Significant progress has been made on the overriding objective to reach consensus on the 3 main ViDA pillars under the Belgian Presidency. This has culminated in a likely date of 14 May 2024 for a probable compromise on the ViDA package, with an implementation of 2026-2030 being the most likely range in its application.

Consultation talks in mid-March 2024 appeared successful in reaching agreement on Pillar 1, pertaining to Digital Reporting Requirements (DRRs). Talks on 25 March 2024 focused on the remaining pillars, concerning the platform economy and single VAT registration.

Specifically concerning the DRR pillar, some significant concepts are under consideration:

• The harmonisation of pre-validation requirements for e-invoices
• The extent to which e-invoice recipients must report invoice data
• The possibility for limited summary invoices
• IBAN payment disclosure on intra-community digital reporting
• An optional system for domestic transaction digital reporting
• An extension to the current proposed 2-day digital reporting and e-invoicing deadline for intra-community transactions.
• The derogation process, which currently requires EU Member States to request permission to enforce B2B e-invoicing. Initially projected for January 2024, it is now being debated whether this process should remain active until the DRR implementation.

Negotiations have been ongoing for some time, given the scope of issues to discuss.

Tungsten Automation looks forward to analysing an envisaged final version of the ViDA proposal in mid-May 2024. We are acutely aware of the impact this will levy on e-invoicing and e-reporting processes. We are closely following developments.