At the ECOFIN council meeting of May 14, an agreement on the VAT in the Digital Age (ViDA) proposal was not achieved due to Estonia’s objection to the ‘deemed supplier’ rules for the platform economy in the taxi and...
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E-Invoicing & E-Reporting developments in the news in week 22/2024
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 Worldwide updates on E-Invoicing/Real Time...
3 months ago
The Digital Outlook: Middle East – Trends in financial innovation and regulation
The Middle East is undergoing a significant transformation due to financial innovation and digital compliance. Businesses need to consider key factors driving this change to successfully navigate it. This whitepaper...
3 months ago
Denmark’s VAT System Cuts Errors by 30% with New Digital Reporting
New Danish VAT reporting system cross-checks with EU trade data Errors reduced by 30% Tax agency announced improvement on Friday Source: law360.com Note that this post was (partially) written with the help of AI. It is...
3 months ago
Challenges Faced by SMEs in Transition to Mandatory E-Invoicing: Industry Leaders Express Concerns
SMEs are facing challenges with the shift towards mandatory e-invoicing Challenges include limited resources, digital literacy, and compliance issues Concerns raised about short implementation period and lack of...
3 months ago
Mandatory KSeF Implementation Postponed to February 1, 2026: Impact on Polish VAT System
The mandatory use of the KSeF e-invoicing system in Poland has been postponed. Originally planned for July 2024, it’s now delayed until February 1st, 2026. This delay is meant to give businesses more time to...
3 months ago
National Cloud Invoice Competition: Register, Issue Invoices, Win Cash Prizes!
To encourage businesses to issue e-invoices and guide people to use mobile devices to receive e-invoices, the Ministry of Finance is holding a nationwide competition for businesses to issue e-invoices. The registration...
3 months ago
E-Invoicing in New Zealand
Summaries of the B2G & B2B e-invoicing obligations in New Zealand Timeline of the main e-invoicing milestones, past & future Access to resources such as some of the technical specifications More detailed...
3 months ago
Spain VERI*FACTU Certified: Computerised Invoicing Delayed to 2026 – Latest Updates
Spain has published the Royal Decree for the launch rules on invoices and their production electronically The planned launch for 1st July 2025 will likely be delayed to early 2026 Spanish B2B e-invoicing is separately...
3 months ago
Saudi Arabia’s 12th Wave of Phase 2 E-Invoicing Integration Criteria and Deadlines
Saudi Arabia announces 12th wave of Phase 2 e-invoicing integration Taxpayers with taxable turnover above SAR10m in 2022 or 2023 must comply with Phase 2 requirements ZATCA will notify impacted taxpayers for integration...
3 months ago
EU Fails to Agree on VAT Changes in ViDA Proposal, Digital Measures Delayed Until 2030
ECOFIN failed to reach agreement on EU Commission’s proposed changes to VAT rules under ViDA initiative ViDA aims to modernize, simplify, and make EU VAT system more resilient to fraud Proposed measures include...
3 months ago
E-invoicing Requirement Extended to 12th Group of Taxpayers from December 1, 2024
E-invoicing requirement in Saudi Arabia extended to 12th group of taxpayers from December 1, 2024 Taxpayers with VAT-liable revenues exceeding SAR 10 million in 2022 or 2023 included in the 12th group Second phase of e...
3 months ago
Lithuania is replacing E. sąskaita with the SABIS platform for B2G e-invoicing
Starting from 1 July 2024, all invoices for public entities and other contracting organizations must be submitted through the SABIS (General Account Administration Information System), replacing the E. sąskaita platform...
3 months ago
Spain VERI*FACTU certified computerised invoicing possible delay to 2026
For resident taxpayers, only state or VERI*FACTU approved invoicing software may be used to prepare and issues invoices Source vatcalc See also E-Invoicing/Real Time Reporting – What can you find on VATupdate.com...
3 months ago
Spanish B2B e-invoice early 2026 now likely
Technical specification doubts mean further delay to Jan 2026 for e-invoicing and certified electronic invoicing Source vatcalc See also E-Invoicing/Real Time Reporting – What can you find on VATupdate.com Worldwide...
3 months ago
Worldwide updates on E-Invoicing/Real Time Reporting/SAF-T in May 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...
3 months ago
E-Invoicing – Implementation delayed till 2026?
The Spanish Tax Administration hinted at a potential postponement of the implementation of Spanish E-Invoicing during the Annual SAP Users Convention in Spain. Two separate initiatives are being advanced in Spain:...
3 months ago
Will France be the next Peppol authority?
Big news coming soon?? A new PEPPOL Authority could be introduced as soon as this year in FRANCE, according to Cyrille Sautereau (President of the fnfe-mpe). He’s also presented the avancements on the Proof of...
3 months ago
ViDA – Reference material of the proposal made on May 14, 2024
ViDA – Reference material of the proposal made on May 14, 2024 VAT in the Digital Age (ViDA) draft texts Principles for Digital Reporting Requirements Platform Economy Single EU VAT registration Changes to the EU...
3 months ago
Parliament Delays E-Invoicing Mandate and Reporting Obligations for Digital Platform Operators
Poland’s Parliament has delayed the mandatory use of an electronic invoicing system (KSeF) until February 1st, 2026. Previously, it was expected to be mandatory earlier. However, a new law requiring digital...
3 months ago
Extended Deadlines for SMEs Electronic Credit Invoice System: Update on Resolution No. 9/2024
Resolution No. 9/2024 extends deadlines for SMEs Electronic Credit Invoice System Deadlines extended from March 1, 2024, to October 31, 2024 Timeframe extended from 15 to 21 calendar days for Articles 4, 5, and 6 of Law...
3 months ago
Electronic Invoicing System in Chile: Requirements, Evolution, and Functionality
Electronic invoicing system in Chile established since February 1, 2018 Law No. 20.727 requires all companies in Chile to issue tax documents electronically Internal Revenue Service (SII) regulates fiscal control in...
3 months ago
VAT in the Digital Age: Where Do We Stand? EU Reforms and Future Directions
EU’s VAT reforms in the digital age did not receive political agreement at the ECOFIN meeting on May 14 Estonia vetoed the proposal, seeking a compromise on voluntary obligations for digital platforms ECOFIN...
3 months ago
Germany Delays Mandatory E-Invoicing Implementation to 2026, Offers Flexibility for Small Businesses
Mandatory implementation of e-invoicing in Germany deferred to 2026 Companies in B2B sector given time to adapt to changes From January 1, 2025, companies must have capability to receive and process e-invoices Companies...
3 months ago
How VAT e-invoices work in Saudi Arabia
Saudi Arabia introduced e-invoicing through ZATCA in December 2021 to transform VAT-related invoicing. E-invoicing involves generating electronic invoices through specific solutions, not PDFs or scanned copies. There...
3 months ago
ZATCA unveils the threshold for the e-invoicing mandate twelfth wave
ZATCA has set the criteria for taxpayers who need to meet the Integration Phase requirements by 1 December 2024. This applies to taxpayers with revenues subject to VAT exceeding SAR 10 million during 2022 or 2023, as...
3 months ago
Latvia intends to make e-invoicing mandatory for public and private sectors
The Latvian Ministry of Finance is proposing amendments to the Accounting Law to make e-invoicing mandatory nationwide. The proposed timeline is for all companies to issue e-invoices to budget entities (B2G) by January...
3 months ago
ViDA: Comparison changes in the EU VAT Directive of the Original vs. Revised proposal
EU VAT in the Digital Age (ViDA) proposal aims to bring about fundamental changes to the EU’s VAT system Three pillars of reform: e-invoicing & digital reporting, online platforms, single VAT registration Unanimous...
3 months ago
