EU Lawmakers Support Tweaked Value-Added Tax Rules Update

European Parliament lawmakers Tuesday said they would back a proposed update of the European Union’s value-added tax rules.

The so-called VAT in the Digital Age plan, which would, among other things, require electronic invoicing for cross-border transactions within the EU and revise VAT rules for some online platforms, was “a sensible proposal that will help consumers and businesses,” said Chris MacManus, an Irish member of the European Parliament’s economic and monetary affairs committee, which discussed the proposal Tuesday.

However, some changes were needed, including longer deadlines before EU countries must start applying the rules, and ...