EU: New draft of EU VAT reform (VAT in the Digital Age (ViDA))
May 9, 2024 · The European Commission (EC) on 8 May 2024 published an updated draft of the “Value Added Tax (VAT) in the Digital Age (ViDA)” package, which, if adopted, would amend the EU VAT rules in the following three areas: The EC initially proposed the VIDA package on 8 December 2022.
EU has finally reached agreement on VAT in the digital age (ViDA) …
On 5 November 2024, the Economic and Financial Affairs Council (ECOFIN) of the European Union (EU) met to discuss changes to the EU Value Added Tax (VAT) rules as part of the VAT in the digital age (ViDA) initiative.
VAT In The Digital Age: Impact Of Revised Proposals On EU ... - Forbes
On May 8, 2024, the EU revealed the updated 'VAT in the Digital Age' proposal. If political consensus is reached, these reforms will be implemented between 2024 and 2030.
Taxation: Council agrees on VAT in the digital age package
Nov 5, 2024 · The Council today reached an agreement on new measures that will bring the EU’s value added tax (VAT) rules into the digital age. With new rules on electronic invoices and real-time data reporting, as well as business carried out through digital platforms, this package of legislation will fight tax fraud, support businesses and promote ...
The value-added tax brings in billions for other countries, but the …
Jun 21, 2021 · President Joe Biden has called for tax increases on the wealthy, including hikes on income and capital gains, along with estate tax reforms and increased IRS enforcement. Other …
EU VAT Reforms Trade Short-Term Business Costs for ... - Bloomberg Tax
Oct 31, 2024 · The ViDA reform proposals, introduced in 2022, aim to further modernize the EU’s VAT system to reduce the VAT gap—the difference between the amount of revenue expected to be collected and the amount actually collected. ViDA is based on three pillars.
Value-Added Tax - The New York Times
Andrew Yang’s proposed V.A.T. and $1,000 dividend would be more practical than Senator Warren’s wealth tax, in the view of the economist N. Gregory Mankiw. News about Value …
Phased EU VAT Reform Implementation Plan Unlocks Agreement - Bloomberg Tax
Oct 31, 2024 · Hungary has brokered an agreement between European Union countries on a value-added tax update for the bloc, clearing the way for its formal approval by finance ministers at a Nov. 5 meeting. “After long discussions, a new compromise has been found with staged deadlines,” for implementing the new rules, an EU official told reporters ...
The United States Needs a Value-Added Tax - Bloomberg Tax
Nov 20, 2020 · The U.S. faces a large long-term imbalance between projected federal tax revenue and federal spending, which has widened during the coronavirus pandemic. Alan Viard of the American Enterprise Institute posits that a value-added tax is …
VAT in the Digital Age (ViDA) - European Commission
On 8 December 2022, the European Commission proposed measures to modernise the EU’s Value-Added Tax (VAT) system, make it work better for businesses and more resilient to fraud, and address challenges in VAT raised by the development of the platform economy.