Nummer: 187

Streamlining exchange of business data in the EU

The EU-Commission must address a long-term solution for burden reduction through making compliance with regulations, including reporting and exchange of company data, more efficient, problem-free and secure.
This can be achieved by ensuring that information requirements in EU legislation are underpinned by common standards and components which can facilitate digital, automated, and standardised business reporting and corporate compliance. 
To realize the potential, a wider application of standardized and interoperable data exchange mechanisms across EU regulation is required throughout the EU.
 

Dato:
21. marts 2024
Type af anbefaling:
Tidlig interessevaretagelse i EU
Tema:
Tidlig interessevaretagelse
Ansvarlig ministerium:
Erhvervsministeriet
Status på anbefaling:
Behandles af regeringen

Problem

Businesses experience significant burdens when complying with reporting requirements in the EU. Data formats and reporting requirements concerning cross-border interactions such as trade and reporting are fragmented due to a lack of standardization.

 

Justification for proposal

Compliance with regulations through reporting as well as sharing data across borders in the EU is fundamental for businesses operating on the single market. 
Despite this, companies are often meet with multiple reporting obligations and data standards in different countries. 
This lack of standardisation creates barriers to digitization and automation which has a huge burden reduction potential for companies. 
Therefore, it is relevant with a horizontal approach to streamline business reporting in the EU through standardization.
 

Consequences for Danish and EU businesses

This initiative will aim to provide suggestions for a long-term solution for burden reduction through making compliance with regulations, including reporting and exchange of company data, more efficient, problem-free and secure.


Affected EU-legislation

  • Corporate Sustainability Reporting Directive (CSRD)
  • VAT in the Digital Age (ViDA)
  • Interoperability Act


Additional information

This proposal is aimed at making it easier for companies to comply with the current rules and reporting obligations in the internal market.
This proposal seeks to address a long-term solution for creating an efficient and standardized framework for how company data is shared and reported across the EU.
A lack of standardization of company data currently constitutes a barrier to digitized and automated business reporting. This proposal has huge potential for reducing burdens.
 

Anbefaling

Proposal for simplification

The EU Commission must support the smooth and secure sharing of business data across EU member states by implementing common minimum standards and a secure and distributed data infrastructure.  This includes, but is not limited, to key digital building blocks, such as eDelivery, eID, eWallets and eInvoicing, which should be used to their fullest potential to improve compliance with various reporting requirements.
The EU Commission must use these building blocks as a foundational element throughout EU legislation.