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The EU economic and financial affairs council (ECOFIN) has reached agreement on the EU’s VAT in the digital age (ViDA) initiative. The agreement covers three acts – a directive a regulation and an implementing regulation – which taken together bring about changes to three different aspects of the VAT system. The new rules will:
- make VAT reporting obligations for cross-border transactions fully digital by 2030;
- require online platforms to pay VAT on short-term accommodation and passenger transport services in most cases where individual service providers do not charge VAT; and
- expand online VAT one-stop shops so that businesses do not have to go through costly registrations for VAT in every member state in which they do business.
Mariana Príncipe senior director of VAT compliance at Ryan said: ‘We’re now seeing member states setting implementation dates for the various ViDA measures stretching across 2025...
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