The UK is considering changes to value-added tax reporting in line with the EU’s system, designed to better adapt tax systems to digital technologies.
The VAT in the Digital Age package, or ViDA, approved by the European Parliament in February, introduces e-invoicing and single VAT registration, aiming to tackle VAT fraud, digitize tax systems, and simplify them for businesses and tax administrations.
“We are aware of ViDA and are looking at the impact on the UK businesses and more so on cross-border taxation,” Lily Duane, His Majesty’s Revenue and Customs policy lead on e-invoicing, said during an EY-sponsored webcast Tuesday. ...
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