Last month, the ECOFIN conference exposed various concerns around the VAT in the Digital Age (ViDA) proposal.One of the enduring contentious points relates specifically to the timing of the proposal.

The European Parliament has issued a proposal to the European Commission, outlining its intention to delay each pillar of ViDA by 2 years.

This is supplemented by other concerns raised in response to the proposal. In total, the European Parliament has proposed 251 amendments in a draft report.

More information on the proposed amendments are available on the EU website:

https://www.europarl.europa.eu/doceo/document/ECON-AM-749001_EN.pdf

The European Commission will, in turn, need to consider the proposed revision to its original schedule.

The ViDA proposal will have radical implications for e-invoicing and e-reporting (BLOG LINK INSERT) over the next decade. Its significance cannot be underestimated. To this effect, Kofax is closely monitoring developments in respect of the ViDA proposal and will keep you informed of the same.