2025 SME Special Scheme introduces pan-EU €100,000 registration threshold to reduce foreign VAT compliance burden From 1 January 2025, there will an optional €100,000 EU VAT registration threshold, enabling resident businesses to sale in other EU states via their domestic VAT return. The European Commission
ViDA Pillar 1, Intra-community EU Digital Reporting Requirement & e-invoicing from 1 July 2030 Work progresses for July 2030 launch; existing real-time reporting regime harmonisation to EU standards by Jan 2035 As part of the EU ViDA reforms, EU Finance Ministers gave political agreement to
Is €50 billion fraud in the EU VAT Gap an overestimate The European Commission’s annual VAT Gap estimate is due within the next few days. But is the calculation of missing VAT overestimating the amount of VAT fraud? Last year’s estimate, covering 2021, but the
EU banking & insurance VAT exemption overhaul rolled into wider financial services tax review The EU’s long term aim to withdraw the outdated VAT exemption on financial services has now been rolled into a wider examination of the taxation of the sector. Concerns around the
2025 no change to EU – Northern Ireland Intrastat thresholds The UK’s HMRC has confirmed that there will be no change to the EU – Northern Ireland (NI) Intrastat reporting threshold. The 2024 current arrivals and dispatches exemption, and delivery terms thresholds will be carried
Pillar 2 delay to January 2030 (voluntary Jul 2028) with 10-year opt-out proposal to unlock Estonia’s veto on VAT in the Digital Age. ViDA confirmed on 5th Nov ECOFIN agenda for final agreement A revised VAT in the Digital Age proposal for the outstanding Pillar
EU Working Party on Tax reviews Fiscal representation to encourage adoption of IOSS and close VAT fraud Proposals are being discussed on 6 November 2024 at the EU’s Working Party on Tax Questions to reform the Import One-Stop Shop reporting to shut down VAT fraud
Parliament reviews behavioural taxes under EU control: VAT; alcohol; tobacco; and energy products The EU Parliament has published a briefing on behavioural taxation, which can be used to influence consumer behaviour, as well as to collect revenue. The EU has set ambitious environmental and health
Digital Certificate to replace paper version from 1 July 2026 On the 6 November 2024, the European Commission’s Working Party on Tax Questions is set to review progress on the prosed Electronic VAT Exemption Certificate. This follows an invitation by the Commission to interested parties
2023 data reveals €26 billion raised from OSS & IOSS 150,000 businesses The 2023 evaluation (published 14 October 2024) of the VAT e-commerce package, particularly focusing on the One-Stop Shop (OSS) and Import One-Stop Shop (IOSS) schemes, reflects the substantial progress made in streamlining VAT
