Final agreement on VAT in the digital age (VIDA)
On 11 March, the European Economic and Financial Affairs Council gave final approval to the VIDA proposals. These are proposals to revamp the VAT rules and adapt them to digital developments. For instance, mandatory e-invoicing. Moreover, cross-border transactions are less likely to require VAT registration in the other EU member state.
In our previous news item, we already covered the main points of the VIDA proposals for you.
What is the next step? The changes will be formally published in the Official Journal of the EU. Some of the changes will then automatically apply to the whole EU after 20 days. And for another part of the changes, individual member states are still required to incorporate it into national legislation.
However, the deadlines and starting dates of the proposals are already fixed. So start the preparation in your own systems and administration in time. We will be happy to help you with that.
Do you have any questions about VIDA? If so, please contact one of our VAT advisors or your regular contact person at CROP.
Check out our other news release on this topic:
Political agreement on VAT in the digital age (VIDA) | CROP accountants and advisors
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