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E-Invoicing & E-Reporting developments in the news in week 46/2024

4 months ago
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Click HERE for the PODCAST version discussing ”E-Invoicing & E-Reporting developments in the news in week 46/2024”

Follow the latest updates on E-Invoicing and Real Time Reporting on www.vatupdate.com and the LinkedIn pages on E-Invoicing/Real Time Reporting and ViDA.

HIGHLIGHTS

  • ViDA Q&A: Can authorities impose an E-Invoicing mandate for domestic transactions if recipient is not established in that Member State?
    • Mandatory E-Invoicing for Domestic Transactions: Before July 1, 2030, a Member State imposes mandatory e-invoicing for domestic transactions where the supplier is established in that Member State, but the recipient is not established there, though VAT-registered.
    • Recipient’s Acceptance of E-Invoices: According to Article 232(2), applicable from the ViDA Directive, e-invoices must be accepted by the recipient if they are not established in the Member State. Therefore, a Member State cannot mandate e-invoicing for domestic transactions if the recipient is non-established unless the recipient accepts the e-invoice.
    • Directive Amendments and Compliance: From July 1, 2030, amendments to Directive 2006/112/EC state that e-invoices compliant with the European standard do not require recipient acceptance if the recipient is established in the same Member State. However, for non-established recipients, acceptance is required unless the Member State has exercised specific options under Article 218.
  • Australia – New Zealand: Peppol PINT invoice format becomes the default for B2G in A-NZ
    • Australia and New Zealand have adopted a policy encouraging e-invoicing with incentives like faster payment terms from public entities, but it is not yet mandatory.
    • Both countries use the Peppol network as the primary medium for e-invoicing, making most public administrations accessible through this network.
    • The PINT (Peppol INTernational) invoice format, an extension of Peppol BIS 3.0 designed for local specifics, will become the default for B2G e-invoicing transactions starting November 15, 2025.
    • Specifications for the Peppol PINT A-NZ invoice format, developed specifically for Australia and New Zealand, are available online.
    • The PINT A-NZ invoice format will become mandatory for all B2G e-invoicing transactions on May 15, 2025, with the Peppol BIS 3.0 format remaining optional until then.
  • Bosnia and Herzegovina Mandates E-Invoicing and Reporting for Online Transactions
    • Bosnia and Herzegovina government plans to introduce mandatory electronic invoicing and reporting
    • Aim is to combat tax fraud, particularly in online sales and digital platforms
  • Impact of Brazil’s Tax Reform on Electronic Invoicing: A Simplified and Modernized Approach
    • Brazil enacted tax reform under Constitutional Amendment 132 on 11.11.2024
    • The reform aims to simplify and modernize Brazil’s complex tax system
    • Five existing taxes (PIS, Cofins, IPI, ICMS, and ISS) have been consolidated into two new taxes
    • The new taxes are the Goods and Services Tax (IBS) managed by states and municipalities, and the Contribution on Goods and Services (CBS) administered at the federal level
  • Portugal – Acceptance of PDF Invoices for VAT Deduction Until 2025
    • Acceptance of PDF Invoices: Until December 31, 2024, invoices in PDF format are accepted and considered electronic invoices for all fiscal purposes, as per Article 284 of the State Budget Law for 2024.
    • Extension Proposal: The proposal for the State Budget Law for 2025 includes a similar provision extending the acceptance of PDF invoices until December 31, 2025.
    • Regulatory Framework: The document outlines the need to align these provisions with the VAT Code, specifying criteria for accepting PDF invoices and differentiating them from electronic invoices.
    • Electronic Invoices Definition: According to Decree-Law No. 28/2019, an electronic invoice is one that is issued and received in electronic format and must be accepted by the recipient.
    • Validity of PDF Invoices: Invoices generated by certified billing software in PDF format and delivered to the buyer are valid for exercising the right to deduct VAT, as per Article 19 of the VAT Code.

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