Type: Draft Legislation
European Commission group discusses the issues of platform economy and VAT, digital reporting requirements and e-invoices, and single VAT registration in the EU. In June, the VAT Expert Group (or “VEG”) of the European Commission examined a number of issues related to the reforms for the proposed VAT in the Digital Age. The Commission will draft a conclusion after discussing these issues, and an impact analysis will be finished. Draft amendments to the VAT Directive should be released in the fall.
Key points discussed at the VEG meeting included:
- Single VAT Registration in the EU (extension of OSS)
- E-invoicing interoperability and harmonisation
- VAT and the Platform Economy.
Effective date: June 2022