European Union: Council Regulation (EU) 2025/517 amending Regulation (EU) No 904/2010 including platform record sharing and standardised exchanges under OSS schemes enters into force
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Council Regulation (EU) 2025/517 amending Regulation (EU) No 904/2010 including platform record sharing and standardised exchanges under OSS schemes enters into force
On 1 July 2028, the provisions of Article 2 of Council Regulation (EU) 2025/517 amending Regulation (EU) No 904/2010 entered into force. The Regulation stipulates the procedural framework for administrative cooperation pertaining to the VAT digital reporting system, as delineated within the provisions of Directive (EU) 2025/516. The Regulation requires Member States to electronically exchange VAT registration and declaration data submitted by taxable persons using the One Stop Shop (OSS) and Import OSS (IOSS) schemes. Furthermore, the Regulation introduces obligations for digital platforms to provide transaction records to Member States and establishes a standard form for the electronic transmission of such records. The Regulation sets out deadlines for transmission and procedures to be followed if the requested records are not received.
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