The European Commission has proposed far-reaching legislative changes on digital reporting requirements for intra EU transactions, including real time reporting of transactions and mandatory e-invoicing. The legislation also provides for member states to mandate digital reporting and e-invoicing on domestic transactions. Other changes include the VAT treatment of supplies involving transport and accommodation platform operators such as Uber and Airbnb, as well an increase in transactions reportable on the one-stop shop (OSS). The new rules are intended to reduce the VAT gap and ensure harmonised electronic reporting requirements, but they will result in significant compliance changes for businesses operating in the EU.
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The European Commission has proposed far-reaching legislative changes on digital reporting requirements for intra EU transactions, including real time reporting of transactions and mandatory e-invoicing. The legislation also provides for member states to mandate digital reporting and e-invoicing on domestic transactions. Other changes include the VAT treatment of supplies involving transport and accommodation platform operators such as Uber and Airbnb, as well an increase in transactions reportable on the one-stop shop (OSS). The new rules are intended to reduce the VAT gap and ensure harmonised electronic reporting requirements, but they will result in significant compliance changes for businesses operating in the EU.
If you are not a subscriber, subscribe now to read this content.
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