VIDA package approval on November 5, 2024
The EU reform of the VAT in the digital age has been approved by ECOFIN on this Tuesday, November 5.
➡️ The 27 EU member states have finally reached a compromise, under the presidency of Hungary, on the role of digital platforms facilitating the sale of accommodation and short-term car rental services. This problematic pillar making platforms responsible for invoicing and collecting VAT as presumed suppliers will become mandatory from 2030, with some exceptions and a voluntary phase starting in 2028.
The other two pillars of the EU VAT reform will be implemented according to the following schedule:
➡️ 01/07/2028: Single VAT registration via the extension of the OSS counter and the generalised Reverse Charge for non-established suppliers making taxable supplies towards VAT registered buyers
➡️ 01/07/2030: E-invoicing and e-reporting of cross-border B2B transactions
After the final validation by the European Parliament, several measures will be implemented between 2025 and 2035. These measures include, among others, the harmonisation of e-invoicing and e-reporting for internal transactions within the EU member states.
For more information, we invite you to contact our VAT experts: contact@btobnice.com