European Union E-Invoicing and E-Reporting
June 21, 2024
Stalemate at the ECOFIN Meeting: Estonia Blocks ViDA Initiative
Stalemate at the ECOFIN Meeting: Estonia Blocks ViDA Initiative
The ECOFIN meeting held on June 21, 2024, ended without an agreement on the VAT in the Digital Age (ViDA) initiative, largely due to opposition from Estonia.
Estonia's primary concern is the deemed supplier regime as they argue would place financial burdens on small and medium-sized enterprises (SMEs) and distort competition within their domestic market. Estonia proposed an alternative in the form of a voluntary deemed supplier regime, but this suggestion failed to gain approval from the other member states.
The future of the ViDA initiative and related tax policies within the EU remains uncertain. Further negotiations will be necessary to reach a balanced resolution. The next attempt is under the Hungarian Presidency at the Council of the European Union, which takes over from Belgium.
Source/recommended videos:
- Watch the public session on ViDA! - Public session (europa.eu)
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