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Dear Agony Aunt
Key points
- The EU’s VAT in the digital reforms will affect businesses trading with the EU.
- The reforms aim to introduce a more efficient and stricter system of e-invoicing.
- The year 2028 will be the deadline for mandatory e-invoicing and digital reporting for all interactions made between EU states.
- Businesses are likely to have to adopt new tech solutions and internal adjustments to comply.
Potentially starting as early as 2024 businesses will begin to feel the impact of the VAT in the digital age (ViDA) reforms proposed by the European Commission (tinyurl.com/euvatindigage). With businesses in the EU and those trading with the continent needing to make some fundamental changes to remain compliant here are the answers to the most common questions we’ve been receiving to help make sure businesses are as prepared as possible.
What is the purpose of the ViDA reforms?
The primary...
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