Worldwide updates on E-Invoicing/Real Time Reporting/SAF-T in December 2024

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The Overviews

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Highlights

Revolutionizing Tax Compliance in Slovakia with Mandatory e-Invoicing
- Mandatory Electronic Invoicing Proposal: The Slovak Ministry of Finance has introduced a draft law requiring all VAT payers to adopt electronic invoicing and real-time data reporting starting January 1, 2027, in alignment with EU directives.
- Digital Transformation of VAT Compliance: The proposed amendment to the existing VAT law aims to replace the dual-option system (paper and electronic invoices) with a fully digital framework, addressing issues related to tax evasion and processing delays.
- Combatting Tax Evasion: The initiative is driven by the urgent need to tackle persistent tax evasion practices that undermine public revenue, with electronic invoicing intended to enhance transparency and streamline tax reporting.
- Public Participation in Legislation: The Ministry encourages stakeholder and citizen engagement in the legislative process, allowing comments and suggestions on the draft law until January 31, 2025, fostering collaboration and refinement of the policy.
- Alignment with EU Vision: By implementing these changes, Slovakia aims to modernize its tax system, comply with EU goals for VAT in the digital era, and create a more transparent and efficient economic environment.
European Union – ViDA Initiative Drives Digitalization with E-Invoicing Pilot and Electronic VAT Certificates
- Launch of OpenPeppol’s ViDA Pilot: OpenPeppol initiated a pilot program in December 2024 to test the 5-corner model for e-invoicing and digital reporting requirements under the ViDA framework, involving 101 participants including tax authorities and businesses, with results expected to guide effective ViDA implementation by Q2 2026.
- Introduction of Electronic VAT Exemption Certificates: The EU Commission announced a digital VAT exemption certificate on December 10, 2024, replacing paper certificates to streamline tax processes in cross-border transactions, with a transitional phase allowing both formats until the compulsory implementation period from 2031-2032.
- Commitment to Digital Taxation: Both initiatives reflect the EU’s aim to modernize tax processes, enhancing efficiency and compliance for businesses and tax authorities, while reducing administrative burdens and facilitating seamless cross-border transactions.
France – OpenPeppol to Act as Interim Peppol Authority for France’s e-Invoicing
- Approval of Key Decisions: The OpenPeppol Managing Committee approved Internal Regulations Part II, which sets a standardized foundation for the Peppol Network. OpenPeppol will act as the interim Peppol Authority for France starting January 1, 2025, overseeing post-award services and capability lookups while the French government establishes a permanent authority.
- Transitional Measures: To ensure a smooth transition, OpenPeppol will establish a Change Management Board and a French Service Provider Forum to maintain French specifications and address national requirements. OpenPeppol will fulfill all obligations typically assumed by a Peppol Authority under the PA Agreement.
- Strengthening Security: A mandatory Information Security Survey for all Service Provider Members has been introduced to assess the implications of mandating ISO/IEC 27001 certification. This aims to enhance security standards and ensure trust within the Peppol ecosystem.
Brazil Updates E-Invoicing for New Indirect Tax Implementation
- Updated Technical Note: On December 6, 2024, the Brazilian government released an updated version of Technical Note NT 2024.002, which incorporates additional validation rules for calculating the new indirect taxes (CBS and IBS) that will be due monthly.
- Tax Reform Background: Brazil’s Congress is debating a significant tax reform aimed at introducing a dual VAT regime, which includes the IBS to replace the state VAT and municipal service taxes, and the CBS to replace federal contributions like PIS/COFINS.
- Implementation Timeline: The updates will be available for testing from September 1, 2025, to October 30, 2025, and in the production environment from October 31, 2025, to December 31, 2025, with full implementation of the new fields and validation rules starting January 1, 2026; further updates to the technical note may occur as the tax reform progresses.
France
- E-Invoicing in France – FAQs – Unofficial translation in English
- Electronic invoicing: the DGFIP updates its information sheets!
Serbia’s National Assembly Passes Amendments to E-Invoicing Law
- Implementation Timeline: The amendments to the e-invoicing law will take effect on various dates, with most changes starting January 1, 2025. Key provisions include the VAT status declaration and the Central Intermediary System roles effective from December 15, 2024, while VAT reporting and system user requirements apply to VAT periods post-December 31, 2024.
- VAT Status Declaration and Electronic Recording: Entities must declare their VAT status within 5 days of registration or any changes, including their VAT tax period. VAT on imports and earlier-stage VAT must be recorded electronically, and VAT status is now a required part of e-invoices, with import data accessible through the Customs Declaration List.
- Penalties for Non-Compliance: Private sector invoices must be stored for 10 years, with significant penalties for non-compliance, including fines ranging from 200,000 to 2,000,000 RSD for failures related to electronic invoicing, VAT status declaration, and maintaining electronic VAT records, extending liability to legal entities and responsible persons.
Denmark’s OIOUBL 3.0 e-Invoicing Standard: Key Dates and Business Implications
- New E-Invoicing Standards in Denmark: The Danish Business Authority announced the OIOUBL 3.0 invoice package as a “release candidate,” set for final release on April 10, 2025, to join Peppol BIS 3.0 as one of Denmark’s two national e-Invoicing standards.
- Enhanced Invoicing Specifications: OIOUBL 3.0 introduces updated specifications for invoices, credit notes, and invoice responses, requiring businesses to support two-way communication for technical and content-related acknowledgments.
- Compliance Roadmap: Key dates include the final release on April 10, 2025, mandatory compliance by November 15, 2025, and the deprecation of OIOUBL 2.1 on May 15, 2026. Businesses should update their systems proactively to ensure a smooth transition and embrace improved digital communication and efficiency.
Estonia Proposes Mandatory E-Invoicing for B2B Transactions Starting 2027
- Mandatory E-Invoicing Proposal: From July 2025, Estonian taxpayers must issue e-invoices upon buyer request to boost e-invoicing adoption, aiming to enhance transparency, reduce fraud, and improve VAT collection.
- B2B E-Invoicing Requirement: The Estonian Ministry of Finance proposes mandatory e-invoicing for transactions between VAT-registered taxpayers (B2B), considering upcoming ViDA changes and other EU countries’ experiences.
- Implementation Timeline: The proposed changes require amendments to the VAT Act and other regulations, with the draft to be presented to Parliament. The government aims for these changes to take effect by 2027.