On 5 November 2024, the EU Finance Ministers at ECOFIN approved the latest version of the VAT in the Digital Age (ViDA) package released on 30 October 2024. This is positive news given that Estonia had earlier raised concerns in relation to the platform rules, a matter which was the subject of compromise discussions throughout 2024.
As a recap, the ViDA proposals are designed to:
1. help streamline and harmonise the EU’s VAT rules (thus lessening fragmentation and making them more apt for the modern economy and the single market);
2. reduce administrative burdens for businesses operating cross-border; and
3. safeguard significant tax revenues for Member States.
