- Global E-invoicing Trends: As we approach 2025, many countries are implementing or expanding e-invoicing and digital reporting mandates for B2B and B2C transactions, leading to increased complexity in compliance due to varying models and data formats.
- Upcoming Mandates: Significant e-invoicing requirements are set to take effect in various countries in 2025, including Bolivia, China, and Germany, while countries like Romania and Saudi Arabia are also rolling out phased implementations to enhance tax compliance.
- VAT/GST Rate Changes: Multiple countries are announcing changes to VAT/GST rates for 2025, with Estonia, Indonesia, and Israel among those increasing their standard rates, while others like Thailand are extending the current rates until later in the year.
- Digital Services Regulations: New regulations are emerging for digital services and online marketplaces, with Chile, Switzerland, and Japan implementing rules that require digital platforms to collect and remit VAT on sales made through their platforms, aiming to enhance compliance in the digital economy.
- Tax Reporting Updates: Various jurisdictions are updating tax return requirements for 2025, including Australia introducing annual GST returns for certain businesses, Belgium extending VAT return deadlines, and Romania requiring SAF-T reports for non-resident VAT taxpayers, emphasizing the need for businesses to adapt to evolving tax obligations.
Source Fonoa
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