- Bosnia and Herzegovina introduced a new bill to fight tax fraud and improve business transparency.
- The bill mandates electronic invoicing and real-time reporting for all business transactions.
- The bill establishes a regulatory framework for digitizing the invoicing process.
- The bill includes penalties for non-compliance with electronic invoicing requirements.
- Electronic invoices must be in a structured format, digitally signed, and archived for 11 years.
- Each invoice will have a unique verification number or QR code.
- The bill establishes centralized platforms for electronic invoicing:
- Central Platform for Fiscalisation (CPF) for B2B and B2G transactions.
- Approved Electronic Fiscal Systems (EFS) for B2C transactions.
- The implementation of electronic invoicing is expected to reduce tax evasion, increase efficiency in tax collection, and simplify administrative processes.
Source: edicomgroup.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
