ECOFIN approves VAT in the Digital Age package
On 5 November 2024, the EU Finance Ministers at ECOFIN approved the latest version of the VAT in the Digital Age (ViDA) package released on 30 October 2024. This is positive news given that Estonia had earlier raised concerns in relation to the platform rules, a matter which was the subject of compromise discussions throughout
VAT in the Digital Age (ViDA): no EU approval yet
What happened? On 14 May 2024, after extensive consultation and negotiation, the EU Finance Ministers at ECOFIN debated the revised VAT in the Digital Age (ViDA) package released by the European Commission (EC) on 8 May 2024. During the ECOFIN debate, one Member State raised a concern in relation to the platform rules and this
VAT in the Digital Age proposals
In response to the ever-increasing digitisation of the economy, on 8 December 2022 the European Commission published its long-awaited proposals to revamp the EU’s VAT system. The proposals have three main objectives: Modernising VAT reporting obligations, by introducing Digital Reporting Requirements, which will standardise the information that needs to be submitted by taxable persons on
