The European Commission Is Seeking Feedback on a Proposed VAT Initiative for the Digital Age
The European Commission has extended the comment period on a draft proposal for the VAT in the digital age scheme from February 17 to May 5.
The proposal contains provisions that would:
1) Implement partial or complete harmonization of digital reporting standards, including electronic invoicing.
2) Clarify current VAT regulations and evaluate the possibility of platforms taking proactive participation in VAT collection.
3) Establish a single VAT registration.
4) Develop a basis to aid tax administrations in the fight against VAT fraud.
Source: ec.europa.eu
