The proposal is based on three key elements:
Posted: Mon Jan 06, 2025 8:47 am
VAT in the Digital Age (ViDA), the 3 key points of the EU proposal
the introduction of a digital reporting system , or e-reporting, to enable the monitoring at Union level of data relating to intra-Community transactions .
Digital reporting, which will become mandatory, will necessarily be belgium whatsapp resource based on the electronic invoice according to the European standard. Through specific implementing acts, the European Union will have to clarify the technical details of the system and the methods of interaction between the national systems and the centralized system that will be implemented. At the current stage of the proposal, therefore, while each Member State will be able to optionally decide whether and how to implement the electronic invoice or a CTC (Continuous Transaction Control) model, at a cross-border level the European electronic invoice becomes an increasingly concrete reality.
Single VAT registration , to allow businesses to more easily fulfill their VAT obligations, without having to register in each of the countries in which they carry out transactions, and therefore without having to conform to the respective compliance requirements. Through this innovation, businesses will be able to register only once and fulfill the obligations provided for through a single portal and in a single language. This should also generate savings for the benefit of businesses, especially SMEs, in terms of administrative and registration costs: savings that are estimated to amount to almost 9 billion over a period of 10 years;
Update of VAT rules for platform operators . This change refers in particular to those operators who manage platforms related to short-term rentals and the passenger transport sector, for example in the tourism sector. At present, in fact, many of these transactions remain outside of VAT obligations, causing inequalities between the economic operators involved and generating an unfair advantage for some of the operators who use these platforms. With the changes contained in the reform, the platforms in question will be required to guarantee the payment of VAT where due, if the operators do not comply directly. This measure should allow the recovery of 6 billion in VAT per year, according to the proposed estimates.
the introduction of a digital reporting system , or e-reporting, to enable the monitoring at Union level of data relating to intra-Community transactions .
Digital reporting, which will become mandatory, will necessarily be belgium whatsapp resource based on the electronic invoice according to the European standard. Through specific implementing acts, the European Union will have to clarify the technical details of the system and the methods of interaction between the national systems and the centralized system that will be implemented. At the current stage of the proposal, therefore, while each Member State will be able to optionally decide whether and how to implement the electronic invoice or a CTC (Continuous Transaction Control) model, at a cross-border level the European electronic invoice becomes an increasingly concrete reality.
Single VAT registration , to allow businesses to more easily fulfill their VAT obligations, without having to register in each of the countries in which they carry out transactions, and therefore without having to conform to the respective compliance requirements. Through this innovation, businesses will be able to register only once and fulfill the obligations provided for through a single portal and in a single language. This should also generate savings for the benefit of businesses, especially SMEs, in terms of administrative and registration costs: savings that are estimated to amount to almost 9 billion over a period of 10 years;
Update of VAT rules for platform operators . This change refers in particular to those operators who manage platforms related to short-term rentals and the passenger transport sector, for example in the tourism sector. At present, in fact, many of these transactions remain outside of VAT obligations, causing inequalities between the economic operators involved and generating an unfair advantage for some of the operators who use these platforms. With the changes contained in the reform, the platforms in question will be required to guarantee the payment of VAT where due, if the operators do not comply directly. This measure should allow the recovery of 6 billion in VAT per year, according to the proposed estimates.