HM Treasury – how proposed EU ViDA overlaps and complicates Northern Ireland’s post-Brexit position in EU VAT regime for goods The UK’s HM Treasury has issued a policy paper discussing how elements of the EU’s proposed VAT in the Digital Age (‘ViDA’) reforms may affect goods
ViDA – major progress needed on Single VAT Registration and Platform Economy reforms in 2023 for 2025 launch. Significant consensus on more complex Digital Reporting Requirements also required for 2028 implementation On 8th December 2022, the European Commission (EC) published its proposed VAT in the
European Commission (EC) proposes near real-time ‘post-audit’ model for 2028 Digital Reporting Requirements; rules out ‘pre-clearance’ reporting and approval by tax authorities of VAT invoices In its proposed Digital Reporting Requirements pillar of its VAT in the Digital Age reforms, the EC has opted not to require
ViDA reforms to EU VAT reporting and invoicing get underway this year as member states consider the most important reform proposals in 30 years On 8th December 2022, the European Commission (EC) published its proposed VAT in the Digital Age reforms in three pillars: Single VAT
2024 Romania eFactură B2B electronic invoice full rollout Romania has dropped plans for a phased rollout to all companies of mandatory B2B e-invoicing. Instead, it will aim for a single 2024 ‘Big Bang’. Ministry of Finance has now confirmed. This follows the July 2022 first round
ViDA – the most ambitious reforms to the EU VAT regime in decades to raise billions in taxes, plus offer businesses and e-commerce sellers major savings The European Commission (‘EC’)‘colleague commissioners on 8 December 2022 adopted the proposed Council Directive amending VAT Directive 2006/112/EC in relation
ViDA – EU sellers may only utilise from their resident country the B2C VAT threshold on cross-border sales From January 2025, EU resident sellers will be limited in their use of the €10,000 intra-community distance selling threshold. Going forward, they will only be able to
New digital reporting obligations lay foundations for major shift in tax collections between member states? The recently announced EU VAT in the Digital Age ViDA reforms could help build the detailed transaction reporting that addresses objections to the long delayed Definitive VAT System. This reform
Member states freed to mandate e-invoicing without Commission approval; obligation for customer to agree to e-invoicing scraped January 2024 In order to facilitate the rapid adoption of e-invoicing, the European Commission has proposed to reform the legal hurdles (Articles 218 and 232, EU VAT Directive)
Option for non-residents to use B2B reverse charge on goods instead of current member states controlling the option to permit it The European Commission is to push for harmonisation of the rules for the simplification that allows non-resident traders selling in an EU state to
