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Umsatzsteuer Newsletter 54/2022
VAT in the Digital Age (Part 3): digital reporting requirements and mandatory e-invoicing
On 08.12.2022, the European Commission published a draft directive for the "VAT in the Digital Age" initiative, which intends to modernize VAT reporting obligations and to impose the use of e-invoicing for cross-border transactions. By implementing digital reporting requirements (DRR), the Commission introduces a transaction-by-transaction reporting system that shall replace the outdated recapitulative statements and provide information to Member States in almost real time. The implementation of mandatory e-invoicing shall form the basis of the DRR.
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Umsatzsteuer Newsletter 53/2022
VAT in the Digital Age (Part 2): "Single VAT Registration" to avoid foreign registrations
On 08.12.2022, the European Commission published a draft directive for the "VAT in the Digital Age" initiative. One of three pillars in the new package of amendments is the "Single VAT Registration". This is intended to eliminate the registration obligations in other EU countries for most businesses and thus relieve them of administrative duties. The entry into force of the new regulatory framework is planned for 01.01.2025.
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Umsatzsteuer Newsletter 52/2022
VAT in the Digital Age (Part 1): New deemed reseller model for online platforms and online marketplaces
On 08.12.2022, the European Commission published a draft directive for the "VAT in the Digital Age" initiative. The changes concern the treatment of the platform economy, the VAT reporting obligations and e-invoicing, as well as the uniform EU VAT registration. In a short series of newsletters to be published over the next three days, we will explain the different changes resulting from the draft directive. In this newsletter, we provide an overview of the new deemed reseller model for short-term accommodation rental and passenger transport, as well as the extension of the deemed reseller model for online marketplaces.
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