Published: June 24th, 2024,
Last updated: June 24th, 2024

The Belgian Council Presidency would have liked to have completed another dossier last Friday: the reform package aiming to digitize the VAT system in the EU and prepare it for the challenges of the digital economy. The reform package was proposed by the Commission in December 2022 and includes a digital reporting system with a standard for electronic invoices, a „One Stop Shop.“ The „Open Stop Shop“ should enable companies to operate anywhere in the EU with a single VAT registration. It also contains rules for online platforms. Overall, the rules are intended to simplify the fight against fraud and reduce the administrative burden for companies.