Germany signals new VAT e-reporting system and extended archiving rules

Germany's Federal Ministry of Finance (BMF) and Federal Ministry of Justice (BMJV) jointly presented a 26-point action plan aimed at tackling tax and financial crime. The plan aims to strengthen cooperation between financial and investigative authorities, pool expertise across federal and state levels, and use data analysis to minimize tax and financial fraud.

VAT e-reporting

One of the most significant developments for businesses is the proposed VAT reporting system. Businesses would re…