Ministry of Finance working on automating the system of reconciliation between investors’ dues and government debts Contracting with a specialized company to operate financial facilities to implement the...
All Technology Posts
Taiwan Implements Mandatory e-Invoicing for Taxpayers Starting January 2024
Taiwan has made e-invoicing mandatory for all taxpayers Companies can use the MIG 4.0 version of the electronic invoice from January 2024 Previous versions (MIG 3.1, 3.2) can only be used until December 31, 2025...
2 months ago
Mandatory eInvoicing Implementation in Germany: A Modern Approach to VAT Process
German government coalition introducing mandatory eInvoicing for national B2B transactions from 2025 eInvoice to be basis for electronic reporting system in Germany Implementation of eInvoicing in anticipation of...
2 months ago
Diverse Electronic Invoicing Models: CTC, Clearance, Real-Time, Centralized, Interoperable, and More
Electronic invoicing is important for business management in the digital era Different countries have different electronic invoicing models based on their regulatory, economic, and technological needs Two main data...
2 months ago
Unlocking Efficiency: The Role of E-Invoicing in Digital Transformation for Tax Consultancies
E-invoicing as an opportunity for workload relief and process optimization Important to actively guide clients into the digital world Past shortcomings in digitalization can be made up for E-invoicing as a crucial step...
2 months ago
Poland’s e-invoice system updates: Postponements and new regulations for businesses in 2026
Mandatory KSeF obligations in Poland postponed until February 1, 2026 President Andrzej Duda signed a law moving the implementation deadline of mandatory KSeF Ministry of Finance proposing solutions to simplify the use...
2 months ago
Ecommerce News June 2024: VAT Updates, Marketplace Expansions, and Fraud Prevention Efforts
E-invoicing in Spain delayed in two phases Latvia proposing to move start date for B2B electronic invoices Austrian marketplace Shöpping expanding to Germany TikTok Shop reportedly coming to EU, plans halted in Europe...
2 months ago
Tax Incentives for Small Businesses Adopting Mobile Payments until December 31, 2025
Small-scale businesses can receive tax incentives for accepting mobile payments until December 31, 2025 Businesses with monthly sales over NT$200,000 can still be taxed at a 1% rate and are exempt from using uniform...
2 months ago
BREAKING – No agreement on ViDA – Summary of the position of Estonia
Status after the Ecofin meeting on June 21, 2024: Estonia does not agree to the pillar of VAT in the Digital Age (ViDA) and since there is no unanimity, there is no agreement on ViDA, also not on Digital Reporting...
2 months ago
Ecofin will discuss ViDA on June 21, 2024 …. here is the link to the live session
Ecofin meeting – Public session at 12.10PM – Unfortunately, they started earlier …
Press conference at 2PM
Source consilium.europa.eu
2 months ago
Navigating Global E-Invoicing Requirements for Non-Resident Businesses: A Comprehensive Guide
Tax authorities worldwide are embracing digitization to monitor economy and business activities Multinational businesses face challenges with varying e-invoicing requirements across countries Understanding e-invoicing...
2 months ago
New Zealand: Progressing Towards Mandatory e-Invoicing with Singapore Collaboration
New Zealand has signed an e-invoicing Memorandum of Agreement with Singapore Discussions on mandatory e-invoicing are ongoing within the e-Invoicing Adoption Leaders Group New Zealand is actively promoting e-invoicing...
2 months ago
France releases specifications for e-invoicing reform
The French Tax Administration (FTA) has released version 2.4 of the “external specifications” for electronic invoicing (e-invoicing) reform, reaffirming their commitment to the implementation schedule set...
2 months ago
Romania Introduces New B2C e-Invoicing Mandate: What You Need to Know
Romanian Ministry of Finance published a Draft Order for new B2C e-invoicing mandate B2C transactions defined as between taxable entity in Romania and non-taxable person Implementation in phases: voluntary from July...
2 months ago
E-Invoicing & E-Reporting developments in the news in week 24 & 25/2024
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 Dominican Republic Publishes Updated Lists of...
2 months ago
Navigating Global Digital Reporting Requirements as a Non-Resident Business
Tax authorities globally are moving towards digitization to monitor the economy and business activities, posing challenges for multinational businesses due to varying e-invoicing requirements across countries...
2 months ago
How does E-Invoicing works in Uzbekistan
Electronic invoicing, known as Uzasbo Faktura, is mandatory for all taxpayers in Uzbekistan since 2020, applying to B2G, B2B, and B2C transactions. Invoices must be sent and received in electronic format through the...
2 months ago
France’s Updated e-Invoicing Specifications: Enhanced Functionality for Taxpayers and Dematerialization Partners
French authorities published updated version of ‘External specifications file for electronic invoicing’ New version describes functional principles of Public Portal and interactions with other parties Key...
2 months ago
Discussions on modernizing VAT, economic impacts of Russian war, and Eurogroup competitiveness talks.
Ministers of Finance discuss digital era value-added taxation Council continues discussion on modernizing value-added taxation Finland may accept the chairman’s compromise proposal Council discusses economic and...
2 months ago
Moldova 2025 E-invoicing Extension Consultation Launched for Public Bodies
Moldova is launching a public consultation for the proposed extension of e-invoicing to public-related bodies The mandate is set to be implemented from 1 January 2025 Moldova introduced compulsory B2G e-invoicing in...
2 months ago
Germany’s New E-Invoicing Rules Explained: What You Need to Know (Jun 20, 2024)
German Government released guidance on electronic invoicing obligations starting January 1, 2025 Guidance was released in the form of a draft letter in German by the Ministry of Finance on June 13, 2024 Source: vitallaw...
2 months ago
Challenges and Solutions in E-invoicing Consolidation for Tax Transformation
E-invoicing regulations are impacting businesses’ operations E-invoicing consolidation is a major need and challenge Real-time submission of invoice data is required by regulations Businesses struggle with...
2 months ago
E-invoicing: 5 Corner Model Explained
E-invoicing and digital reporting obligations are popular among tax authorities worldwide. Different approaches are followed by governments to process and receive indirect tax relevant data, involving various...
2 months ago
Implementing a third-party tax engine? Make sure you follow these 6 essential project milestones
Innovate Tax recommends considering whether the native functionality of your ERP system can be configured to automate tax determination, application, and remittance. In some cases, implementing a third-party tax engine...
2 months ago
Understanding the Heart of Taxation: What Is a Tax Engine?
In global commerce, VAT is a complex form of taxation with varying regulations. Jun Miyake, Principal, Tax Technology at Ryan, discusses the benefits of deploying a tax engine for indirect tax determination. A tax...
2 months ago
Moldova 2025 mandatory e-factura; consultation
2025 E-invoicing extension consultation launched Source vatcalc 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
EU ViDA agreement still blocked for 21st Jun ECOFIN meeting
VAT in the Digital Age agreement this week still blocked; compromise on Digital Platform ‘deemed supplier’ not yet accepted. Discussions on potential agreement resume 21 June at ECOFIN meeting Source vatcalc Join the...
2 months ago
Cyprus 2024 eInvoicing Country Sheet
The Digital Strategy for Cyprus, approved in 2012, recommends adopting eInvoicing to promote the use of ICT for a smart, sustainable, and inclusive economy. Directive 2014/55/EU has been transposed into law for...
2 months ago
