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The EU’s current VAT Information Exchange System (VIES), which helps taxpayers to validate EU VAT numbers, will be phased out in 2032 to be replaced by a new ‘Central VIES’ database. As part of the Digital Reporting Requirements (DRR) pillar of the EU’s landmark VAT
Managing tax in Oracle Cloud might seem straightforward at first glance. After all, Oracle Cloud applications come equipped with the Cloud tax engine; a built-in tool designed to automate tax determination and calculation. But for many businesses, the reality proves far more complicated. Without careful
The European Commission has officially adopted the VAT in the Digital Age (ViDA) package following re-consultation with the European Parliament. This landmark reform aims to modernise the EU’s VAT system by leveraging digital tools, increasing efficiency, and enhancing fraud prevention mechanisms. Key changes and implementation
The UK government has initiated a 12-week public consultation to explore the standardisation and potential mandatory adoption of e-invoicing for B2B and B2G transactions. This initiative, led jointly by HM Revenue & Customs (HMRC) and the Department for Business and Trade (DBT), aims to gather
On 12th February, the EU Parliament delivered a decisive nod to the VAT in the Digital Age (ViDA) reforms. This landmark approval follows a November 2024 political agreement reached by Finance Ministers across member states. The reforms aim to modernise VAT administration, streamline digital reporting,
Greece is emerging as a leader in combating VAT fraud through innovative digital solutions like electronic reporting, e-invoicing, and the promotion of electronic transactions. These methods are proving highly effective in reducing VAT fraud and reducing the country’s previously substantial VAT gap; offering a blueprint
