Type: Legislation
Following the ECOFIN May meeting, the European Commission has begun preparations for implementing Single VAT Registration (SVR) as part of the EU VAT in the Digital Age (ViDA) reforms, slated for July 2027. This reform includes the extension of the One-Stop Shop (OSS) VAT return to further B2C and B2B stock movements, aimed at reducing foreign VAT registrations and costs for businesses. The harmonisation of the B2B reverse charge will go ahead, allowing member states some flexibility in its application. The proposal to extend the marketplace ‘deemed supplier’ rule to EU sellers has been dropped, favoring marketplace sellers over own website sales. Additionally, various cross-border services where the seller is not resident will be included in the OSS scheme, enhancing VAT compliance and reporting.
Effective date: July 2027
