VAT for Digital Age

The European Commission asked for comments to their VAT for Digital Age consultation. Proposal includes 3 parts: Digital Reporting Requirements, VAT Treatment of the Platform Economy and Single VAT Registration in the EU and IOSS. The Technology Industries of Finland values the main idea of trying to make taxation simple and easy for taxpayers in all Member States. The Comission's proposal is a positive step to the right direction. The changes to tax reporting and e-invoicing should be done with also considering how to enhance competitiveness and real-time economy. EU should become a well-functioning single-market, by making it easy to locate and do business in the EU. TIF higlights that examples how to make taxation and reporting easier should be taken from countries which have small VAT gaps, highly digitalised and light VAT reporting. For example, the Nordic Countries. For example the Nordic countries’ Real-Time Economy project for additional info on building a national digital ecosystem for business actors that would be compatible with similar systems in other Nordic countries. It would allow seamless, real-time and secure transmission of orders, e-invoices, digital receipts and business data between parties. https://www.yrityksendigitalous.fi/en/

Read the statement