- Tax authorities globally are digitizing Value Added Tax (VAT) reporting, and new regulations and adoption timelines in the B2G and B2B sectors are accelerating the implementation of e-invoicing requirements in the Asia-Pacific (APAC) region.
- India now obliges all businesses to issue and report e-invoices on a mandatory basis using the JSON format to the Invoice Registration Portal (IRP),
- while South Korea reduced the threshold for e-invoicing to KRW 100 million as of July 2023.
- Japan will implement e-invoicing nationwide from October 2023 based on the JP PINT regulations,
- while in China, a pilot program for fully digitalized e-fapiao is expanding to various provinces.
- In the Philippines, the e-invoicing system started in July 2022, initially for 100 large taxpayers.
Source SNI
