New Release: Factur-X 1.07.2 and ZUGFeRD 2.3.2 applicable from November 15, 2024. Hybrid E-Invoice Standard: Combines PDF for readability and XML for automation, conforming to EN 16931. Multiple Data Profiles: Includes...
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Slovakia’s New Electronic Transaction Control Statement for VAT Reporting: A Step Towards Mandatory E-Invoicing
Slovakia introduced electronic transaction control statement report from 1 January 2024 Required in support of VAT return, filled monthly or quarterly Applies to resident and non-resident businesses Currently uploaded...
Boosting South Africa’s Economy Through Modernising VAT: Lessons from Global Implementations
Modernizing South Africa’s VAT system can boost the country’s economy Businesses can contribute to improving the country’s fiscus by modernizing their VAT reporting systems South Africa’s current...
Latvia Implements Mandatory B2G and B2B e-Invoicing Under Amended Accounting Law
Amendments to the Accounting Law in Latvia introduce mandatory e-invoicing E-invoicing will be mandatory in the B2B sector for goods and services starting from 1 January 2026 B2G e-invoicing will be mandatory for...
Changes in Consumer Invoicing through KSeF: Impact and Implementation Details
KSeF will change the way invoices are issued for consumers Sellers will be able to issue consumer invoices through KSeF Consumers will receive either a visualization of the invoice or the necessary data to identify the...
Poland’s Draft KSeF Amendments: Public Consultation Open Until 22 November 2024
Poland’s Minister of Finance published a draft amendment to the VAT Act regarding the National e-Invoice System (KSeF) Public consultation on the draft amendments, logical structures for e-invoices, and white...
Latvia Mandates E-Invoicing with Amendments to the Accounting Law Published
On 12 November 2024, the amendments to the Accounting Law were promulgated, confirming the introduction of the electronic invoicing obligation in the country. Mandatory Electronic Invoicing: As of 1 January 2025, B2G e...
Bosnia and Herzegovina to Introduce Mandatory E-Invoicing and Reporting for Online Transactions
The government of Bosnia and Herzegovina has reportedly proposed the introduction of mandatory electronic invoicing and reporting requirements to combat tax fraud, especially in relation to sales via the internet and...
Australia E-Invoicing PINT A-NZ Adopted
The phased introduction of the PINT A-NZ specification of OpenPeppol standard e-invoicing has started. This replaced the ANZ Peppol BIS 3.0 specification from 15th September 2024. The format is obligatory for B2G e...
A Proposal for VAT in the Digital Age (ViDA) has been Approved
The EU’s Economic and Financial Affairs Council (ECOFIN) has approved the Value Added Tax in the Digital Age (ViDA) proposal, aiming to modernize VAT rules and combat tax fraud.
Source: www.fiscal-requirements.com
Summary of E-Invoicing and E-Reporting in Denmark
E-invoicing is mandatory for B2G transactions in Denmark, with digital reporting regulations introduced in 2023, requiring entities to register systems by October 2023 for compliance starting January 2024. Denmark uses...
E-Invoicing & E-Reporting developments in the news in week 46/2024
Click HERE for the PODCAST version discussing ”E-Invoicing & E-Reporting developments in the news in week 46/2024” Follow the latest updates on E-Invoicing and Real Time Reporting on www.vatupdate.com and...
ZATCA’s 17th Wave of Taxpayers
Wave 17 Criteria
The Zakat, Tax and Customs Authority (ZATCA) has announced the criteria for selecting taxpayers in the 17th Wave of the Integration Phase of e-invoicing.
Source: SNI
Updated ViDA Implementation Timeline
Following the approval of ViDA (VAT in the Digital Age), we are pleased to share the updated ViDA implementation timeline. Additional Details July 2030: mandatory platform economy changes and DRR/e-invoicing obligations...
ViDA: E-Invoicing and Digital Reporting
After two years of negotiations, the EU member states adopted the ViDA package. ViDA stands for VAT in the Digital Age. With the ViDA package, the EU aims to better equip the VAT system for the digital world we live in...
Questions about the German E-invoicing Mandate: Insights from Comarch and KPMG
This session focused on the upcoming changes in the German e-invoicing mandate, highlighting key deadlines and compliance requirements of which every business needs to be aware. In this article, we address the questions...
ViDA adopted – for the Polish legislator it means many challenges and decisions to make
Agreement Reached on ViDA Package: After nearly two years of negotiations, the Council reached an agreement on the ViDA package on November 5th. The package includes significant changes like digital reporting (Pillar...
ViDA Q&A: Can authorities impose an E-Invoicing mandate for domestic transactions if recipient is not established in that Member State?
Business Case Before July 1, 2030 A EU Member States imposes mandatory E-Invoices for domestic transactions, e,g, s supply of goods within one country. The supplier is an entity established in that Member State, the...
Navigating ViDA: 10 Key Insights for Success in the Digital Age of VAT
ViDA is a set of tax reforms that will change how VAT works in the EU It is the biggest change to the EU VAT rules since 1993, aiming to combat revenue loss and modernize the system Businesses in the EU will need to...
Latvia Implements Mandatory E-Invoicing Law for B2B Transactions from 2026
Latvia has gazetted a mandatory e-invoicing law Businesses must use e-invoicing for all B2B transactions from 1 January 2026 The amendments will go into effect on 1 January 2025 The Cabinet of Ministers will establish...
FS Portal – electronic forms: Important notice for users of Chrome and MS Edge browsers.
Public announcement regarding electronic forms on the FS portal Incorrect filling of form fields may occur when submitting electronic forms It is recommended to clear the browser cache before submitting, especially when...
Bosnia and Herzegovina’s Proposal for Mandatory E-Invoicing to Combat Tax Fraud
Bosnia and Herzegovina proposes mandatory e-invoicing to combat tax fraud Specifically targeting sales conducted through the internet and digital platforms Rules are in line with EU Directive 2014/55 on electronic...
Revised PINT A-NZ e-Invoicing Specification Implementation Timeline: Key Dates and Changes
PINT A-NZ specification of OpenPeppol standard e-invoicing will replace ANZ Peppol BIS 3.0 specification from 15th September 2024 Format is mandatory for B2G e-invoicing and for B2B counterparties who agree to e...
Modernising SA’s VAT System: Boosting Economy and Business Success Through Automation and Compliance
Businesses can boost the country’s economy by modernizing their VAT reporting systems South Africa’s current VAT compliance gap is estimated to be between 5% to 10% per annum SARS’ revenue collection...
Navigating the Future of Structured Invoicing: Key Updates to the Mandatory KSeF Law
The Ministry has announced updates to the mandatory KSeF (National System of e-Invoices) law and a new structured invoicing framework to ensure a phased transition for businesses into digital finance. The implementation...
PDF invoices remain considered “electronic” one more year in Portugal
The 2025 Budget provision further delays the implementation of Portugal’s B2G e-invoicing mandate for SMEs, initially set for January 1, 2021, now delayed by five years. While large companies are currently subject to...
Peppol PINT invoice format becomes the default for B2G in A-NZ
Australia and New Zealand have adopted a policy encouraging e-invoicing with incentives like faster payment terms from public entities, but it is not yet mandatory. Both countries use the Peppol network as the primary...
India: Lower Threshold for E-invoices to Be Sent to IRP Within 30 Days
On November 5, 2024, the Indian Goods and Services Tax Network announced a lower threshold for invoices to be sent to the Invoice Registration Portal (IRP) within the 30 days of the invoice date. As of 1 April...
