Simplified VAT invoicing
The EU has recently adopted a new directive aimed at simplifying the VAT invoicing requirements across the EU especially in relation to electronic invoices.
The aim of the new directive is to ensure that tax authorities will accept e-invoices under the same conditions as apply to paper invoices, and to remove legal obstacles to the transmission and storage of e-invoices.
It also contains measures to tackle VAT fraud by helping tax authorities to ensure that tax is paid. Deadlines are introduced for the issue of invoices to enable speedier exchange of information on intra-EU supplies of goods and services.