VAT in the Digital Age Proposals Delayed until 7th December

Friday 18th November, 2022

The European Commission has confirmed that details of major reforms to the VAT regime will be published on 7 December instead of 16 November 2022. New tax goverance rules on cryptocurrencies and crypto-assets, DAC8, have also been delayed to the same date when senior members of the European Commission, meet to confirm major EU legal proposals:

• Single VAT registration in the EU, which includes extending the One Stop-Shop to cover more cross border B2C goods & services transactions, as well as potentially certain B2B transactions.
• Digital Reporting Requirements, which is aiming to harmonise live transaction reporting, including e-invoicing, in the EU. This could include adopting Continuous Transaction Controls government preclearance invoice reporting.
• Digital Platforms and VAT, looking at extending more transaction reporting of online marketplaces’ users and sellers transactions, plus potentially extending the deemed supplier VAT obligations for the gig and sharing economies

VAT in the Digital Age originated from the EU Tax Action Plan, published in 2022. It seeks to build on the success of the 2021 EU e-commerce VAT package.