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...
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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...
2 months ago
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...
2 months ago
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...
2 months ago
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...
2 months ago
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...
2 months ago
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...
2 months ago
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...
2 months ago
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...
2 months ago
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...
2 months ago
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...
2 months ago
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...
2 months ago
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...
2 months ago
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...
2 months ago
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 –...
2 months ago
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...
2 months ago
Malta 2024 eInvoicing Country Sheet
The Ministry of Finance in Malta has transposed the Directive 2014/55/EU through Legal Notices 403 and 404 of 2018 under the Financial Administration and Audit Act and the Local Councils Act. The transposition included...
2 months ago
Malaysia MyInvois e-invoicing Aug 2024: new guidelines, FAQ & SDK
Aug 2024 phased MyInvois B2B e-invoicing: new guidelines, updated FAQ and Software Development Kit Source vatcalc Source: Guidelines Release Notes Frequently Asked Questions See also E-Invoicing/Real Time Reporting –...
2 months ago
EN16931 – Standard for E-Invoicing in Europe
Standard EN16931 was adopted by CEN in 2017 and is used for B2G e-invoicing in the EU The European Commission estimates €240 billion in savings over six years with electronic invoicing Directive 2014/55/EU aims to...
2 months ago
The future of supply chains – Expert insights
The future of supply chains is a major concern for businesses due to the rapid development of new technologies like AI and blockchain. However, the next decade is more likely to be defined by the adoption of new...
2 months ago
Romania’s New Mandate: e-Invoicing for B2C Transactions
The Romanian Ministry of Finance is mandating e-Invoicing for business-to-consumer transactions starting January 1, 2025, to enhance transparency and combat tax evasion. Businesses must use the RO e-Invoice system, with...
2 months ago
Changes to National Digital Systems by MF: Sanctions for e-Transport and e-VAT Postponed, B2C e-Invoice Mandatory by 2025
Sanctions for e-Transport and e-VAT are postponed until January 1, 2025 Mandatory use of e-Invoice in B2C regime from July 1, 2025 Adjustment of the monthly gross income threshold to exclude meal vouchers and food...
2 months ago
Latvia to Implement Mandatory E-Invoicing for B2B and B2G Transactions by 2026
Latvia to introduce mandatory e-invoicing for B2B and B2G transactions from January 2026 Ministry of Finance proposing new regime, public consultation launched Currently, public and government institutions in Latvia...
2 months ago
Electronic Invoicing in the Municipal Environment Presents New Challenges
EU Directive 2014/55/EU obliges municipalities to accept electronic invoices Varying regulations depending on the federal state Above-threshold and below-threshold values for acceptance obligation Supplier obligation...
2 months ago
Amendment to Director’s Provision on Electronic Invoicing for VAT Subjects Providing Services to Consumers
Amendment to the provision of the Director of the Revenue Agency no. 527125 of December 28, 2018 Changes related to the issuance of electronic invoices through the Exchange System to final consumers by VAT taxpayers...
2 months ago
Expansion of E-Invoicing Mandate to Include B2C Transactions in Romania from January 2025
Mandatory e-invoicing for B2C transactions in Romania starting January 2025 B2C invoices issued by businesses in Romania will fall under e-invoicing requirements Retail store deliveries and services to final consumers...
2 months ago
Tax Legislation Amendments: e-VAT and e-Invoicing Implementation Measures (06/21/2024)
Emergency Ordinance no. 70/2024 implements the national RO e-VAT system and pre-filled RO e-VAT return Pre-filled VAT return includes data from various systems organized by Ministry of Finance and ANAF Taxpayers must...
2 months ago
E-Invoicing Implementation in Denmark: Progress, Challenges, and Future Mandates
Denmark has been a pioneer in B2G e-invoicing since 2005 B2B e-invoicing in Denmark is progressing slower than expected Directive 2014/55/EU requires electronic invoices for public bodies and suppliers Denmark uses EN...
2 months ago
