We’ve decided to dedicate a page on our website to two important reforms that will revolutionize the European tax landscape in the coming years.
TOMS: The reform of the “Tour Operator Margin Scheme,” the now obsolete margin regime for travel agencies, has been on the European Commission’s agenda for some time. A public consultation has also been launched in 2025 to ask users and industry professionals what urgently needs updating, reducing unfair competition and red tape to align the tax regime with new technologies and sustainability practices.
ViDA: This acronym stands for “VAT in the Digital Age” and encompasses a series of reforms to modernize VAT in the digital age that have already been approved by the European Union. Starting in July 2028, a series of tools will be implemented to update tax regimes to reflect the innovations brought about by the digital economy, such as European electronic invoicing, the platform economy (marketplaces will be required to collect VAT on behalf of third-party sellers), and a single VAT number valid in all Member States.
Finaxit is available to prepare your business for changing regulations.