Stakeholders are invited to have their say on the current VAT invoicing rules, introduced under the Second Invoicing Directive, which have been in effect since 1st January 2013.
The European Commission has issued a public consultation on these rules, aiming to collect data and evidence required to evaluate them and this includes asking stakeholders for their views on topics such as whether the directive has met its set objectives, to what extent the invoicing rules are aligned with stakeholders’ needs and possible ways for reform. A wide range of stakeholders have been requested to contribute including businesses, consultancies, academics and citizens.
The consultation will run until 20th September 2018. Importantly, the collected data is expected to help the commission determine burden reduction and any simplification potential as well as quantify regulatory costs, benefits and savings to businesses, generated by the invoicing rules.
The spotlight will be on electronic invoicing; data gathered through the consultation is expected to measure and provide deeper insight into the recent trend for individual Member States to take up their own electronic reporting systems.