Hello everyone, welcome to PWC TaxBite podcast series.

My name is Peter and I'm very happy that I can welcome Alan and Claire in my virtual

recording studio.

The reason I invited Claire and Alan is because there are a lot of developments in the

indirect talk space and more in particular, VAT in the digital age, or as I call it, Vida.

I'm very curious to explore with Alan and Claire and with his audience what this is, what this is all about, what the impact can be.

So, yeah, welcome Alan.

And Alan is for the people who do not know her leading or

e-invoicing Center of Excellence out of Belgium, Brussels, and Claire, who is co-leading the digital

network. So I think with both of you, I have the right brainpower in the room to talk about

this development, this topic. Maybe to start with the beginning, let's explore a bit what it's actually about this Vida.

Maybe Claire, can you explain that a little bit to the audience and also maybe touch on why it's so important for businesses.

Okay, thank you, Peter. And hello everybody. So, as you already mentioned, Peter, Vida stands for VAT in the digital age. It is in fact an EU initiative, which is designed to modernize the current VAT system. It was approved last year in November 2024, and in fact,

it introduces measures like a mandatory e-invoicing for some transactions, the extension

of the so-called one-stop shop to more transaction types, and also new rules for platforms in sectors like

accommodation and transports. The goal is in fact to simplify VAT compliance, also to reduce

fraud and create a more uniform system across the different EU member states.

Now, these changes will bring significant compliance obligations for businesses,

making an early preparation essential.

Yeah, thanks, Claire.

So I hear you mention also e-envoicing. So that seems to be an important part of the Vida proposal. So, Alan, let me turn to you. Can you explain a bit what is changing on that front?

Sure, Peter. And hello everyone also from my sides. So what changes around the invoicing?

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