Bloomberg Law
May 25, 2023, 2:08 PM

Lawmakers Wary of Short Deadlines in EU VAT Reform

Stephen Gardner
Stephen Gardner
Freelance Correspondent

Companies and tax authorities should be given more time to adapt to a planned revision of European Union value-added tax rules, a lawmaker responsible for drawing up a European Parliament opinion on the update said Thursday.

In particular, proposed two-day deadlines for issuing an invoice after a cross-border transaction has taken place, and then for electronic reporting of the transaction, should be extended to 10 days, Olivier Chastel, a Belgian European Parliament member, said during a hearing of the economic and monetary affairs committee (ECON).

The shorter deadlines are “not realistic, even for large companies, let alone small companies ...

Learn more about Bloomberg Law or Log In to keep reading:

Learn About Bloomberg Law

AI-powered legal analytics, workflow tools and premium legal & business news.

Already a subscriber?

Log in to keep reading or access research tools.