The Ministry of Finance of the Slovak Republic implemented Act No. 215/2019 to guarantee electronic invoicing and the central economic system, transposing Directive 2014/55/EU. Non-central entities had an extra year for...
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How VAT e-invoices work in Saudi Arabia
Saudi Arabia introduced e-invoicing through ZATCA in December 2021 to transform VAT-related invoicing processes for businesses. E-invoicing involves generating invoices electronically through specific solutions, and in...
Standard EN16931: an overview of the compliance of electronic invoices
Table of Contents What is the EN16931 standard? What is a EN16931 compliant invoice? The content of the basic invoice template What are the criteria that the EN16931 standard must meet? Source Symtrax.com See also E...
VAT in the Digital Age approval not yet reached; new timetable for implementation emerges
EU countries have not yet reached an agreement on the proposed implementation of the ViDA scheme, despite a compromise measure being considered at the most recent meeting of the Economic and Financial Affairs Council...
ECOFIN meeting on 21 June 2024 did not reach the expected agreement on ViDA
The latest ECOFIN meeting on 21 June 2024 did not reach an agreement on the ViDA package. Negotiations will continue under the Hungarian presidency. The previous meeting on 14 May 2024 also failed to reach a consensus...
Ghana continues the VAT e-invoicing system roll-out
Ghana’s Revenue Authority (GRA) has published a list of businesses invited to onboard the VAT e-invoicing system, aiming to onboard 600 VAT-registered taxpayers by June 2024. The second phase of the e-invoicing...
Estonia 2024 eInvoicing Country Sheet
This information provides details about the eInvoicing legislation in Estonia. The Accounting Act mandates the use of eInvoicing for public sector entities since 1 March 2017 and requires specific formats, either the...
ViDA – still without compromise
On June 21, 2024, a meeting of the ECOFIN Council took place regarding changes in the VAT system proposed as part of the “VAT in the Digital Age” (ViDA) package. Member states did not reach a consensus on...
EU’s ViDA: Struggle for Political Consensus Continues in Digital VAT Modernization
European Commission published VAT in the Digital Age package (“ViDA”) to modernize EU’s VAT system ViDA consists of three pillars: modernization of VAT reporting, updated rules for Platform Economy...
Estonia’s Opposition to EU VAT Agreement for Online Platforms Causes Disagreement and Debate
Estonia blocked EU agreement on VAT for online platforms Estonian Minister of Finance disagreed with proposed introduction of VAT for platform services Estonia believes it is unfair for small businesses or individuals...
E-Invoicing Compliance Guide: Slovakia’s Shift Towards Digital Transformation and B2G Regulations
Slovakia is embracing e-invoicing as part of its digital transformation New continuous transaction controls system for B2B and B2C transactions planned for 2025 E-invoicing aims to combat tax fraud, reduce tax gap, and...
Romania to Implement E-Invoicing for B2C Supplies by 2025: International Update
Electronic invoicing obligation for B2C supplies in Romania from January 1, 2025 Electronic invoicing obligations for B2B transactions already in place since January 1, 2024 Invoices must be transmitted to RO e-Factura...
Stalled EU VAT Reform: Disagreements Delay ‘ViDA’ Proposal on Digital Taxation
The EU’s proposed VAT reform “ViDA” has been stalled due to disagreements among member states Main issue is taxation of short-term rentals and transportation services facilitated by digital platforms...
Estonia Blocks European VAT Reform for Uber, Bolt, and Airbnb: The Veto Power Explained
Estonia is blocking European tax reforms that would impose VAT on digital platforms like Uber, Bolt, and Airbnb Other EU countries see the reform as essential for creating a fairer tax environment and preventing unfair...
EU Council fails to reach compromise on VAT reform in digital era, Estonia opposes.
The EU Council has not reached a compromise on the comprehensive reform of the VAT system Estonia has expressed opposition to the reform, similar to the previous month The issue revolves around changes in online sales...
Europe Fails to Harmonize e-Invoicing as ViDA Rejected Again at ECOFIN Meeting
During the latest ECOFIN meeting on June 21, Member States discussed implementing VAT in the Digital Age proposals Estonia objected to proposed platform rules and requested new deemed supplier rules be optional A...
How to get ahead of the tax curve: Predicting and preparing for future market disruptions
The tax industry is slow to create new legislation in response to global and market disruptions, taking decades to update regulations. For example, digitalization, such as e-invoicing and real-time reporting, has taken...
Reselling vs. Building E-Invoicing Solutions: A Strategic Decision for ERP Integration Companies
Electronic invoicing is a complex and evolving area with specific regulations in different countries, posing challenges for ERP vendors to keep up with the changes. Businesses seek comprehensive ERPs that cover various...
Denmark 2024 eInvoicing Country Sheet
The Danish Business Authority is responsible for the implementation of eInvoicing legislation in Denmark, including the Law on use of electronic invoice no 1593 of 18/12/2018 and the Consolidation Law on public...
What are cloud containers? Understanding containerized architectures
Containers are a lightweight and efficient way to deploy and manage applications in cloud environments, providing isolation, standardization, and portability. Technologies like Docker and Kubernetes enable the use of...
European Council not adopting ViDA (again)
In the ECOFIN session dd. June 21, 2024, there was no significant change in the positions on passing the “VAT in the Digital Age” (ViDA) package. Despite efforts and compromise proposals, Estonia maintained...
Czechia 2024 eInvoicing Country Sheet
The Czech Republic transposed the Directive 2014/55/EU on electronic invoicing into national legislation with Act no. 134/2016 Coll. The legislation became effective on October 1, 2016. The Národní elektronický nástroj...
Status Update: ECOFIN Meeting on June 21, 2024 – Estonia’s Stance on ViDA
The ECOFIN meeting on June 21, 2024, did not reach an agreement on the VAT in the Digital Age (ViDA) initiative, primarily due to Estonia’s opposition. Estonia’s concerns revolve around the deemed supplier...
EU ViDA agreement blocked again at ECOFIN meeting
VAT in the Digital Age agreement eluded Finance Ministers today; compromise on Digital Platform ‘deemed supplier’ not yet accepted by Estonia. Discussions resume 14 July at ECOFIN meeting. Source vatcalc See also No...
Taiwan Makes e-Invoicing Mandatory for all Taxpayers
Starting from January 2024, companies in Taiwan can use the MIG 4.0 version of the electronic invoice. The previous versions (MIG 3.1, 3.2) can only be used until December 31, 2025, according to the Taiwan government...
Updated External Specifications for e-Invoicing and e-Reporting
The French authorities have updated the ‘External specifications file for electronic invoicing’ after consulting with stakeholders. The new version describes the functional principles of the Public Portal...
E-invoicing Consolidation: The New Tax Transformation Challenge
E-invoicing regulations are becoming more widespread and are impacting businesses in various ways. One major challenge is the need for e-invoicing consolidation. Many regulations require real-time submission of invoice...
EU Member States Again Fail to Agree on VAT in the Digital Age Proposal
The ECOFIN meeting under the Belgian presidency on 21 June 2024 faced a setback as the 27 EU member states failed to agree on the ViDA proposal for modernizing VAT reporting. Estonia’s opposition to the proposal...