Cote dIvoire’s Directorate General of Taxes has released details of a new electronic standardized invoice All businesses are required to use this for issuing and reporting VAT transactions The new system is...
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Albania Enhances Fiscal Platform for Rejected E-Invoice Management
New improvement in Albania for managing rejected electronic invoices Albania’s Tax Administration enhanced its fiscalization platform Starting November 2024, rejected invoices will automatically be listed in...
Mastering Regional E-Invoicing Complexities and CTCs: Final Insights
This article focuses on the regional complexities and challenges of e-invoicing compliance for multinational companies There are no widely accepted international standards for e-invoicing, making compliance complex...
Year-End Briefing: VAT Gap, Law 5164/2024, and B2G Invoicing Updates
The final broadcast for 2024 covered various topics Updates on Christmas bonuses from the Labor Inspection Further reduction of the VAT gap in Greece for 2022 Extension of asset declaration deadlines until February 28...
Urgent Call for Clarity on Esend-MyData Integration Issues
The Independent Authority for Public Revenue updated the MyData system with Esend data on December 19, 2024, without prior notification Numerous errors have been identified in the data transmission values between the...
Ministry of Finance Proposes Mandatory Electronic Invoicing Bill
Ministry of Finance plans to start drafting a bill The bill will make electronic invoicing mandatory Source: research.ibfd.org Note that this post was (partially) written with the help of AI. It is always useful to...
Spain Implements Mandatory Verifactu Invoicing Software for Tax Compliance by 2025
Spanish resident taxpayers must use approved invoicing systems called verifiable invoicing systems or VERI FACTU systems The requirement is specified in the Royal Decree 1007/2003 of 5 October 2024 Businesses already...
The electronic standardized invoice comes into force in Ivory Coast in January 2025
Introduction of Electronic Standardized Invoice: The General Directorate of Taxes (DGI) announced that the electronic standardized invoice will be implemented starting January 2025, as discussed during an event...
DG TAXUD worked with DG DIGIT to develop a Solution Architecture Template (SAT) for e-invoicing
Project Initiation and Goals: In September 2023, DG TAXUD launched the FPG 042 project group under the Fiscalis Programme to develop a Solution Architecture Template (SAT) for B2B intra-community e-invoicing reporting...
Group on the Future of VAT: Agenda and minutes of the 47th meeting (December 2, 2024)
Source Circabc Agenda 47th GFV meeting – 02-12-2024 1. Welcome and introduction 2. ViDA Package – Update on the state of play and Implementation 2.1. GFV N° 141 ViDA Package. DRR Implementation – Preliminary...
Malaysia: Second Phase of E-Invoicing Mandate in 2025
Targeted Rollout for Medium-Sized Businesses: The Inland Revenue Board of Malaysia (IRBM) is launching the second phase of its e-invoicing mandate on January 1, 2025, focusing on medium-sized businesses with annual...
Romania’s 2025 Tax Compliance and E-Invoicing Changes
Mandatory B2C E-Invoicing: Starting January 1, 2025, Romania will require electronic invoicing for business-to-consumer (B2C) transactions to combat tax evasion and enhance transparency. A transitional phase allows...
ZATCA’s 18th Wave of Taxpayers
Targeted Taxpayers: The Zakat, Tax and Customs Authority (ZATCA) has identified the criteria for the 18th Wave of e-invoicing integration, focusing on taxpayers with VAT-relevant revenues exceeding SAR 2 million in 2022...
The Role of E-Invoicing in U.S. Digital Tax Reporting
Current Landscape and Benefits: E-invoicing is gaining traction in the U.S., offering significant advantages such as improved cash flow management, enhanced accuracy, and streamlined tax compliance. Although not...
How U.S. Small Businesses Can Transition to E-Invoicing (Common Mistakes to Avoid)
Growth and Importance of E-Invoicing: The global e-invoicing market is projected to grow significantly, from $12.47 billion in 2023 to $62.68 billion by 2031, emphasizing the need for U.S. small businesses to adopt e...
E-invoicing Network Models
Types of Communication Models: E-invoicing utilizes various network models, ranging from 2-corner (direct point-to-point) to 5-corner systems, each defined by the number of communication nodes involved, affecting the...
Germany’s Upcoming Regulatory Changes in 2025
Shortened Invoice Retention Periods: Starting January 1, 2025, Germany will reduce the mandatory invoice retention period from 10 years to 8 years for invoices with retention obligations beyond December 31, 2024, while...
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...
Senegal’s Move Towards e-Invoicing: A Key Element of the 2025 Finance Bill
Mandatory E-Invoicing Introduction: The Directorate General of Taxes and Domains (DGID) in Senegal plans to implement mandatory electronic invoicing for all commercial transactions starting with the 2025 Finance Bill to...
Nationwide Digital E-Fapiao Rollout Implemented on December 1, 2024
Nationwide Implementation: As of December 1, 2024, China’s State Taxation Administration has fully implemented the digital e-fapiao system, allowing all taxpayers to issue electronic invoices. Expansion to Civil...
RTC Webinar Recap: The 17th Wave of FATOORA e-Invoicing Compliance in Saudi Arabia
Gratitude to Participants: RTC extends heartfelt thanks to all participants of the “17th Wave of FATOORA” webinar, whether they attended live or plan to watch the sessions later, providing essential...
Portugal’s 2025 Budget Affects E-Invoicing Regulations
Budget Approval: On November 29, 2024, the Portuguese Parliament approved the 2025 state budget, impacting tax and e-invoicing regulations. PDF Invoices Accepted: Taxpayers can continue submitting PDF invoices as...
Publication of Peppol Specifications for MY PINT Specifications
Updated Specifications Released: Peppol has published version 1.1.0 of the Malaysian billing specifications, which now include updated guidelines for invoice, credit note, self-billing invoice, and credit note...
Senegal Advances Mandatory e-Invoicing with 2025 Finance Bill to Curb Tax Fraud
Senegal is set to introduce mandatory electronic invoicing for all commercial transactions as part of the 2025 Finance Bill The initiative by the Directorate General of Taxes and Domains aims to combat tax fraud and...
Recap: 17th Wave of FATOORA e-Invoicing Compliance in Saudi Arabia
RTC expressed gratitude to all participants of the 17th Wave of FATOORA e-Invoicing Compliance webinar in Saudi Arabia The event provided a platform for understanding the e-Invoicing system in Saudi Arabia with guidance...
Turkey Implements New Central System for e-Invoices and e-Waybills
The Turkish Revenue Administration has announced a new central application for e-invoices and e-waybills starting December 14, 2024 The new system aims to improve communication between the Sender Unit and the Mail Box...
Who Now Asks for Electronic Invoices in Restaurants?
Since January 1, 2025, electronic invoices are mandatory for transactions between domestic businesses Many business owners are just realizing the challenges of implementing electronic invoicing Electronic invoices are...
Argentina Implements New E-Invoicing Rules for Foreign Currency Transactions
The Argentine Official Gazette published General Resolution No. 5616/2024 on December 18, 2024, focusing on e-invoicing and voucher issuance procedures The resolution mandates recording the exchange rate on receipts for...
