The German Office for the Coordination of IT Standards (KoSIT) has updated the XRechnung 3.0.2 and XBestellung 1.0 specifications for e-Invoicing and electronic ordering. The updates to XRechnung 3.0.2 include...
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Waiting for ViDA: Modernizing VAT for the Digital Age
The EU’s VAT in the Digital Age (ViDA) proposal aims to modernize the current VAT system by addressing e-invoicing, platform economy complexities, and simplifying multi-country VAT registration. ViDA’s key...
2 months ago
Singapore implements Invoice Response for B2G invoices
The Accounting General Department (AGD) has introduced the Invoice Response document for B2G suppliers to receive real-time status updates for e-invoices sent via InvoiceNow (Peppol). Singapore has implemented...
2 months ago
Ministry of Finance adjusts JPK_VAT deadlines for KSeF implementation by July 8, 2024
Ministry of Finance modifies deadlines for adjusting JPK_VAT to KSeF to July 8, 2024 Businesses have extra time to adapt to new requirements until July 31, 2026 Obligation to include data from simplified invoices in...
2 months ago
The Future of E-Invoicing in Austria: Embracing Digital Transformation for Business and Government
Digitalization is changing business life in Austria, with e-invoicing replacing paper-based invoices B2B e-invoicing will be mandatory in Germany from 2025 ViDA aims to modernize the VAT system for the digital age and...
2 months ago
2024 Greece 2024 eInvoicing Country Sheet
The Directive 2014/55/EU was transposed into Greek law under Law 4601/2019. The transposition includes the use of an extra year for compliance by non-central entities, and it is mandatory for national, regional, and...
2 months ago
The role of E-Invoicing in the digital transformation of organisations
Poland’s decision to implement E-Invoicing is a significant step towards digital business transformation. The move aims to revolutionize invoicing, streamlining the process and enhancing the integrity of the tax...
2 months ago
E-invoicing and electronic document exchange in Kazakhstan
Kazakhstan is driving digitalisation in its accounting system through the introduction of E-Invoicing and electronic document exchange to improve efficiency, transparency, and reduce costs. This modernisation aims to...
2 months ago
E-Invoicing in Poland
E-Invoicing is currently accepted, as well as paper or PDF invoices. E-Invoicing should become mandatory both for B2G & B2B transactions in 2026 through the “KSeF” central platform using the “FA(2)” (XML) format...
2 months ago
Reducing CO2 Emissions: The Impact of Uncollected VAT and Electronic Invoicing Solutions
European Commission report shows member states lost around 61 billion euros in uncollected VAT in 2021 Romania alone lost over 8 billion euros in uncollected VAT, ranking third in Europe Romania introduced mandatory e...
2 months ago
ViDA: Upcoming Changes in VAT System for Digital Platforms and E-Invoicing by 2027
ViDA is a package of changes to the VAT system in the EU, including digital platforms, e-invoicing, digital reporting, and VAT registration ViDA aims to digitize processes and streamline VAT regulations Mandatory e...
2 months ago
Relevant aspects to consider in the implementation process for Electronic Tax Documents in El Salvador
On June 4, 2024, the Ministry of Finance in El Salvador issued an updated version of its Compliance Regulations for Electronic Tax Documents. The key points addressed in the newsletter include: Information Consistency:...
2 months ago
Romania’s Proposal for Mandatory RO E-Invoice Register Procedure
Romania has proposed a procedure for a mandatory electronic invoice register The register would be known as the RO E-Invoice Register The purpose is to combat tax evasion and improve tax collection Businesses would be...
2 months ago
Madagascar’s Centralised e-Invoicing Platform: A Guide for Businesses in Tax Compliance
Madagascar is implementing a centralised e-Invoicing platform to collect structured VAT invoices The platform aims to secure tax receipts, eliminate fraud, and reduce compliance costs Digitalisation efforts include...
2 months ago
Latvia 2024 eInvoicing Country Sheet
The Ministry of Finance, in collaboration with the State Revenue Service, State Treasury, and State Regional Development Agency of Latvia, is responsible for implementing and maintaining the technical solution in the...
2 months ago
Saudi Arabia’s Criteria for 13th Phase of E-Invoicing Integration Unveiled by ZATCA
Saudi Arabia unveils criteria for 13th phase of e-Invoicing integration Criteria includes taxpayers with revenues subject to VAT exceeding SAR 7 million in 2022 or 2023 ZATCA will notify targeted taxpayers to integrate...
2 months ago
Council Implementing Decisions allowing Member States to implement Mandatory B2B E-Invoicing (Status July 2024)
The Council of the European union has up till now only authorized Italy, France and Poland to implement Mandatory B2B E-Invoicing and Real Time Reporting. This is a derogation of Articles 218 and 232 of the EU VAT...
2 months ago
Updates on RO e-Invoice System: New Regulations, Deadlines, and Exemptions Explained
Emergency Ordinance no. 69/2024 introduces amendments to the electronic invoicing system Use of electronic invoicing system extended to transactions between economic operators, taxable persons in Romania, and final...
2 months ago
Liechtenstein 2024 eInvoicing Country Sheet
The responsible ministry for eInvoicing in Liechtenstein is the Ministry of General Government Affairs and Finance. The legislation governing eInvoicing is the Law of 10 November 2017 on Public Procurement (Public...
2 months ago
E-Invoicing & E-Reporting developments in the news in week 27/2024
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 France – Why the Peppol network is becoming...
2 months ago
Sovos and PwC Ireland Partner to Accelerate E-Invoicing and E-Reporting Compliance Solutions
Sovos and PwC Ireland have announced a joint business relationship to accelerate e-invoicing and e-reporting implementation Sovos offers support to clients around the world for regulatory compliance needs PwC Ireland...
2 months ago
Migration to SAP S/4Hana – 5 Key Considerations
2025 is the deadline set by SAP for businesses to migrate to their new S/4HANA system. This transition is not a simple process and offers an opportunity to update other key business processes. Five key questions to...
2 months ago
Current Situation in Spain regarding the E-Invoice and key aspects to be considered for the future
The future of electronic invoicing in Spain can be seen in the draft regulation published on 15 June 2023 and in the previous law “Crea y Crece”, Law 18/2022 dated 28 September 2022. Electronic invoicing was...
2 months ago
Saudi Arabia Determines Criteria for 13th Wave of the Integration Phase for the Country’s New E-Invoicing Requirements
The Saudi Zakat, Tax, and Customs Authority (ZATCA) has announced the criteria for the 13th wave of the integration phase for the country’s new E-Invoicing (FATOORA) requirements. The integration phase is being...
2 months ago
Germany 2024 eInvoicing Country Sheet
The Federal Ministry of the Interior is responsible for eInvoicing on the federal administration level, while each state (Land) is responsible for eInvoicing on the federal state level (Länder). The Directive 2014/55/EU...
2 months ago
Romania B2C E-Invoicing Mandate in 2025
The Ministry of Finance is mandating electronic invoicing for all business-to-consumer transactions from January 1, 2025, as part of a draft law proposing significant updates. The national RO e-Invoice system will cover...
2 months ago
Saudi Arabia e-invoices (FATOORAH) – 13th wave Jan 2025
FATOORAH mandatory B2B e-invoicing twelfth wave of Phase 2 from 1 December 2024 Source vatcalc See also E-Invoicing/Real Time Reporting – What can you find on VATupdate.com Worldwide Upcoming E-Invoicing mandates...
2 months ago
E-Invoicing Exchange Summit Prague (Sept 23-25)
When and where September 23 to 25, 2024 in Prague, Czech Republic Short description The E-Invoicing Exchange Summit Europe will be held in Prague from September 23 to 25, 2024. At this global platform you will get in...
2 months ago
