Agreement reached on the ViDA package

Following extensive discussions, the Economic and Financial Affairs Council (ECOFIN) adopted the ViDA (VAT in the Digital Age) package on 5 November 2024, which could modify the EU value added tax (VAT) regulations in various areas. Our newsletter summarizes the package's implications and its impact on businesses.

The ViDA package comprises three legal instruments: a Directive, a Regulation and an Implementing Regulation, introduced by the European Commission on 8 December 2022. The primary objective of the legislative package is to reform VAT regulations and mitigate VAT fraud within the EU, aligning with advancements in digitalization. The adopted package is currently awaiting approval from the European Parliament.

To read the whole newsletter below.