Sneak Peak to Revised ViDA draft up for Vote May 14, 2024

Here's a summarized version of the observations from the revised ViDA draft:

Digital Reporting Requirements (DRR)

• DRR implementation set for July 1, 2030.
• Standard e- invoices required, with exceptions for domestic transactions.
• Cross-border e- invoices must be issued within 10 days.
• EU sales listing requirement to be removed from the same date.
• Real-time reporting mandatory only for cross-border transactions.
• Member states must update existing e- invoicing and reporting to the European standard by 2035.

Platforms

• Changes effective from January 1, 2026, for goods via marketplace and July 1, 2027, for short-term accommodation and passenger transport services.
• Platforms deemed suppliers, obliged to charge and collect VAT.
• Exception for taxable persons under SME scheme.
• Short-term defined as maximum 30 days, with exceptions.
• Deemed-supplier platforms exempt from TOMS; travel agents not covered.

Single VAT Registration

• Mainly effective from July 1, 2027.
• €10k EU-wide threshold doesn't include sales from another Member State's stock.
• OSS expanded to cover more supply types.
• Domestic reverse charge applies unequivocally except for margin scheme.
• Call-off stock simplification phased out by June 30, 2027.

Countdown to May 14th ECOFIN vote!

Full document is available here: pdf (europa.eu)