VAT changes in the EU: 1 January 2025
Significant and wide-ranging VAT (Value Added Tax) changes are to be introduced in the EU in 2025, with the intention of modernising and simplifying procedures for cross-border transactions. Although this is quite a way off, businesses are going to have to consider how best to accommodate these changes, in order to take advantage of potential efficiencies.
Overall, the changes mean that transactions are going to be taxed where the customer belongs, and that brings the requirement of potential local VAT registrations, filing and payment obligations in other countries.