Studio PonchioSTP
The ViDA package: e-invoicing and digital reporting in EU VAT
«VAT in the Digital Age» redraws European VAT: electronic invoicing for cross-border transactions, near real-time data reporting and new rules for platforms.
The ViDA package introduces a phased reform of VAT across the Union, resting on three pillars: digital reporting and electronic invoicing for intra-EU transactions, the platform economy regime and single VAT registration, designed to cut the compliance burden on businesses operating in several Member States.
Invoicing and reporting
Cross-border transactions are to move to structured electronic invoicing with data transmitted close to the time of the transaction, replacing the recapitulative statements. Member States will be able to extend the obligation to domestic transactions as well.
Platforms and single registration
For certain services (short-term accommodation and passenger transport) platforms will be able to take on the role of person liable for the tax. Single VAT registration extends the one-stop-shop model, sparing businesses from having to register for VAT in every Member State of destination.
How to get ready
Implementation is staggered over time: it pays to map cross-border flows early and to check that invoicing systems are up to the task, so as to be ready when the European deadlines fall due.
- The «VAT in the Digital Age» (ViDA) package – EU measures on e-invoicing, digital reporting, the platform economy and single registration.
- VAT Directive 2006/112/EC, as amended.