Peppol Service Providers (SP) are responsible for creating and maintaining connectivity gateways compliant to Peppol standards, routing e-invoices, and updating participant details in the Malaysia SMP. Companies...
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What Does Being PEPPOL Compliant Mean?
PEPPOL is a standard for exchanging electronic documents like invoices, ensuring they are easy to send and receive. Being PEPPOL compliant means documents can be easily processed by public and private authorities in the...
Saudi Arabia Postpones Tax Fines and Financial Penalties until the end of 2024
ZATCA announced a postponement of tax fines and financial penalties until December 31, 2024, to help taxpayers stay compliant and reduce the economic impact of fines. If there is no further postponement, the fines will...
VAT and the Growth of the Digital Platform Economy
The rapid growth of the digital platform economy has disrupted traditional business models, creating competitive distortions and a gray market. Digital platforms blend various business models, blurring the lines between...
Webinar RTC – Get Ready for Malaysia’s e-Invoicing Mandate: Key Insights and APAC Impact (July 17, 2024)
Register HERE Join us for an in-depth webinar on “Key Insights into Malaysia’s e-Invoicing Mandate” hosted by RTC. This webinar will provide a thorough understanding of Malaysia’s e-Invoicing requirements, focusing on...
Malaysian e-Invoicing New Guidelines Published
The Inland Revenue Board of Malaysia (LHDN) has released new guidelines and a Software Development Kit (SDK) for the implementation of its Continuous Transaction Control (CTC) e-invoicing model, MyInvois. The MyInvois...
E-Invoicing Adoption in the U.S.: Key Drivers and Challenges
Businesses in the U.S. are increasingly adopting e-invoicing for its advantages in efficiency, cost savings, and competitive advantage. The Business Payments Coalition (BPC) and the Federal Reserve have collaborated to...
ZATCA extends the grace period for fines and penalties related to e-invoicing violations
ZATCA has extended its fines and penalties exemption until the end of 2024. Taxpayers must register, submit unfiled returns, and pay principal tax debts to benefit from this initiative. The initiative applies to all tax...
Amendments to the RO e-Invoice, RO e-Transport and the introduction of the pre-filled RO e-VAT return
The Official Gazette published Emergency Ordinance no. 69/2024 amending the national system RO e-Invoice and cash registers legislation, and Emergency Ordinance no. 70/2024 on measures for the implementation and use of...
Impact of e-invoicing mandates on intercompany transactions
The global trend of continuous transaction control (CTC) systems, such as electronic invoicing (e-invoicing) or digital reporting mandates, is significant. These systems require taxpayers to submit transactional data to...
2024 Norway 2024 eInvoicing Country Sheet
The responsible entities for electronic invoicing in Norway are the Ministry of Government Administration and Modernisation (KMD), the Ministry of Finance (FIN), and the Norwegian Agency for Public and Financial...
E-Invoicing Compliance in the USA: The Complete Guide
There is a partial B2G e-invoicing mandate in the USA, with the US Office of Management and Budget (OMB) directing federal agencies to manage invoices electronically for “appropriate federal procurements” in 2018. The...
Denmark: 1st phase of the Bookkeeping Act starts July 1, 2024
The new Bookkeeping Act in Denmark requires the digitization of all accounting processes, including invoicing, with the first phase taking effect on July 1, 2024. The Act mandates the use of certified digital...
Worldwide updates on E-Invoicing/Real Time Reporting/SAF-T in June 2024
The Overviews Worldwide Upcoming E-Invoicing mandates, implementations and changes – Chronological Timeline of B2B E-Invoicing & E-Reporting mandates in the European Union E-Invoicing heatmap for Europe Join the...
Romania’s Government Delays Implementation of New e-VAT Regulation Until 2025
Romania’s government postponed implementation of new e-VAT regulation Changes in provisions will delay some aspects until January 1, 2025 Aim of regulation is to increase VAT collection and reduce tax evasion...
Proposal for Law Amendment: Streamlining and Modernizing Tax Sanctions in Various Laws
Proposal for a law amending the VAT Act, the Collection Act, the Tax Administration Act, and various other laws Consultation deadline: August 22, 2024 With the bill, it is proposed to carry out a restructuring of...
ViDA Initiative: Addressing VAT Challenges in Digital Platform Services for Fair Taxation
ViDA initiative starting on July 1, 2027, addresses VAT challenges for digital platform services Growth of digital platform economy disrupts traditional business models, creates competitive distortions Ambiguity in...
VAT Modernisation Consultation: Key Findings Revealed by Revenue for Ireland’s Administration Reform
Revenue published key findings from public consultation on modernizing Ireland’s VAT administration Majority of responses were from VAT registered businesses, with 54% operating as sole traders or partnerships...
Implementation of E-Invoicing in Practice: Draft of BMF Letter for Introduction from 1.1.2025
The draft of the BMF letter on the introduction of e-invoicing from 1.1.2025 was published on 14.6.2024 The BMF plans to publish a final BMF letter in coordination with the top tax authorities of the states The draft...
France Releases V.2.4 E-Invoicing Specifications: Key Changes, Timeline, and Impact
France has published version 2.4 of the “external specifications” for electronic invoicing The update includes over 100 changes, introducing new features and updates to various aspects of the invoicing...
Germany’s 2025 E-Invoicing Mandate: Key Updates and Requirements for Businesses
German Ministry of Finance has published a draft letter on upcoming e-invoicing mandate E-reporting requirements will be introduced later Businesses must be able to receive e-invoices by January 2025 Businesses will be...
Denmark’s Digital Invoicing & Bookkeeping: July 2024 Launch and Implementation Phases
Denmark is launching digital certified invoicing and bookkeeping in July 2024 The Danish Bookkeeping Act requires businesses to record and store accounting records on approved systems and send structured e-invoices...
Poland’s Mandatory B2B e-Invoicing Rollout: What Businesses Need to Know
Poland to implement mandatory electronic invoicing system for B2B transactions in 2026 Phased rollout starting with larger corporations in February 2026 and expanding to all businesses by April 2026 New system called...
Government Approves Changes to e-VAT Implementation Mechanism Until January 1, 2025
Changes to e-VAT implementation mechanism approved by government VAT difference notes and supporting notes will not be charged to taxpayers for six months Minister of Finance, Marcel Bolos, announced the changes at a...
Lithuania 2024 eInvoicing Country Sheet
The Ministry of the Economy is responsible for the legislation related to procurement by contracting entities in the field of water management, energy, transport, or postal services. The legislation includes amendments...
E-Invoicing & E-Reporting developments in the news in week 26/2024
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 BREAKING – No agreement on ViDA – Summary of the...
Germany publishes e-invoicing draft regulations – Unofficial translation in English
Unofficial translation of the draft regulations letter in English See also E-Invoicing/Real Time Reporting – What can you find on VATupdate.com Worldwide Upcoming E-Invoicing mandates, implementations and changes –...
Fintedu Webinar – Mastering E-invoicing Insights and Strategies from the UAE and KSA (July 2, 2024)
Register HERE Join us for an informative webinar aimed at helping you understand and implement electronic invoicing (eInvoicing). Date : Tuesday, 2nd July 2024 Time : 3 pm to 4 pm GST Mode : Zoom Overview Topic 1...
