Obligations and deadlines related to DRR

It is in the proposal to modernize and digitize VAT reporting (DRR) that the concept of CTC, or Continuous Transaction Control, comes in.
What it really means is that you continuously follow up the transactions and check them when they occur.
To make this possible, a standardization is developed in the form of a format based on the European standard we are familiar with in Sweden. The one that, for example, Peppol BIS Billing 3 is based on. However, there is nothing in the ViDA proposal that tells how the reporting should be conveyed. It only deals with what should be conveyed. The format should carry information from the invoicing that has been done. For example, due dates and serial numbers are extracted. But exactly how the transmission is to take place, and how it is intended, is not specified.
In the worst case scenario, this could lead to there being 27 different infrastructures within the Union. In other words, each Member State will have its own system.

Linked to the DRR are a number of deadlines to adhere to:

• For cross-border trade within the EU, the invoice must be issued within two days of the transaction being made.
• Once you have sent the invoice, you have another two days to report the information to the Swedish Tax Agency.
• This obligation also applies to the buyer. The person receiving the invoice must report receipt to the Tax Agency within two days.