On 15 April 2024, the Inland Revenue Authority of Singapore (IRAS) and the Singapore Peppol Authority announced that Singapore will broaden the scope of its e-invoicing initiative which was originally introduced in 2019...
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Mandatory Electronic Invoicing in Zambia: Smart Invoice Implementation
Starting from July 1, 2024, all VAT-registered taxpayers in Zambia must issue electronic invoices through the Smart Invoice software solution The Zambian Revenue Authority (ZRA) has implemented this new system Taxpayers...
3 months ago
Updates and Transition Rules for Referencing Previous Export Transactions in NCTS Procedure
EU Commission aims to harmonize customs IT systems by 2025 NCTS Phase 5 implemented in Germany with ATLAS Release 9.1 in March 2021 ATLAS information released on April 16, 2024 regarding transition from NCTS Phase 4 to...
3 months ago
Digital Transmission of Business Tax Assessments via ELSTER to Support Municipal Digitalization
ELSTER, which stands for Elektronische Steuererklärung (electronic tax declaration), is Germany’s online tax office system. It’s designed by the Federal Central Tax Office to make filing taxes more...
3 months ago
VAT in the Digital Age: Challenges and Opportunities for Taxation in the Digital Era
ViDA package aims to modernize VAT regulations to combat fraud, support businesses, and promote digitalization Includes digital reporting requirements, involvement of platforms in tax collection, and expansion of OSS...
3 months ago
Belgian push for updated ViDA European VAT reforms fails, but compromise on horizon
European Commission released updated ViDA package “VAT in the digital era” on May 8, 2024 Ecofin scheduled proposal for approval on May 14, 2024 under Belgian presidency Ecofin did not reach consensus due to...
3 months ago
EU Tax Reforms: Progress on Withholding Tax, Setback on VAT Update due to Estonian Veto
EU finance ministers reached preliminary agreement on law for cross-border withholding tax refund procedures New law will streamline tax refund systems for cross-border dividend and interest payments Czechia initially...
3 months ago
ECOFIN Council Fails to Approve ViDA Package Due to Disagreement on Deemed Supplier Rules
VAT in the Digital Age (ViDA) package was not approved at the ECOFIN council meeting Estonia objected to the use of ‘deemed supplier’ rules for platform economy in the taxi & accommodation sectors...
3 months ago
Australian government announces funds to enhance e-invoicing
The Australian government has committed to investing in e-invoicing as part of a AUD 67.5 million Fighting Scams package announced in the Federal budget. This investment marks the next phase in combating cybercriminals...
3 months ago
ViDA Reform Stalls at ECOFIN Council: Estonia’s Objection to ‘Deemed Supplier’ Rules Creates Impasse
ViDA agreement on EU VAT reform was not reached at ECOFIN Council Estonia objected to deemed supplier rules for ride and accommodation platforms ViDA implementation timeline may be delayed by 2-3 years Estonia’s...
3 months ago
EU’s ViDA Reforms: Impact on Businesses and Key Proposals Explained
EU faced setback on ‘VAT in the Digital Age’ reforms Only one member state opposed the proposals Reforms expected to be rolled out between 2024 and 2030 Key ViDA proposals include new electronic invoicing...
3 months ago
EU ViDA Platform Economy: Deemed Supplier for VAT on Ride & Accommodation Transactions by July 2027
EU ViDA Platform Economy Ride & accommodation platforms deemed supplier for VAT in July 2027 Pillar 2 of EU VAT in the Digital Age reforms Estonia challenges deemed supplier role at ECOFIN meeting on 14 May 2024...
3 months ago
EU Member States Struggle to Agree on VAT in the Digital Age Proposal
EU member states failed to reach an agreement on the VAT in the Digital Age (ViDA) proposal during a meeting on 14 May 2024 The ViDA proposal aims to modernize VAT reporting, change rules for the platform economy and e...
3 months ago
Kenyan National Assembly Considers Finance Bill 2024 with Electronic Invoicing Amendments
Kenyan lower house of Parliament accepted Bill No. 30, The Finance Bill, 2024 for consideration The bill includes measures to amend the application of electronic invoices Specific exemptions are included in the bill...
3 months ago
Estonia’s Veto on EU’s VAT Reform in Digital Age Sparks International Debate
Estonian Government vetoed the Commission’s proposed VAT reform package VIDA package aims to modernize VAT rules in response to digital economy Package includes e-invoicing rules, platform economy VAT rules, and...
3 months ago
E-Invoicing Revolution: Malaysia’s Transition to Digital Transactions by August 2024
E-Invoicing in Malaysia will be implemented gradually, starting by August 2024 for bigger companies E-Invoices will replace traditional paper or electronic invoices, credit notes, and debit notes E-Invoices contain...
3 months ago
ViDA – EU VAT reform without consensus: What’s next for digital age taxation?
No consensus reached in the EU on VAT digitalization package ViDA Economic and Financial Affairs Council discussed proposed solutions but did not reach agreement Estonia raised objections regarding proposed settlement...
3 months ago
Ghana Revenue Authority’s E-VAT Journey: Pilot to Full Implementation Success Story
Ghana Revenue Authority’s E-VAT system has been implemented in phases Pilot phase successfully completed with over 50 taxpayers VAT revenue grew by over 58% during the pilot phase Phase 1 focuses on onboarding...
3 months ago
Mandatory e-Invoicing System (KSeF) Shifted to February 1, 2026: Updates and Legislative Changes
Mandatory KSeF postponed to February 1, 2026 The Sejm adopted a law moving the mandatory KSeF implementation deadline to February 1, 2026 The Ministry of Finance will propose a two-stage introduction of the obligation...
3 months ago
EU Member States fail to reach agreement on the VAT in the Digital Age (ViDA) Proposal
The EU member states did not reach an agreement on the VAT in the Digital Age (ViDA) proposal during the ECOFIN meeting on 14 May 2024. The ViDA proposal encompasses changes to VAT reporting, rules for the platform...
3 months ago
2025 E-invoicing Act Enters Estonian Parliament
The Estonian government has approved a final version of a new bill to amend the Accounting Law regarding e-invoicing, which is expected to take effect in 2025. The broad amendment aims to modernize Estonian e-invoicing...
3 months ago
Kenya revokes the Kshs.5 million threshold for eTIMS
The long-awaited Tax Procedures (Electronic Tax Invoice) Regulations 2024 have been gazetted, impacting businesses in Kenya. Key takeaways include the requirement for all businesses to issue eTIMS invoices and clearer...
3 months ago
2026 is the Year for B2B E-Invoicing in Croatia
Croatian public procurement entities have been required to receive and process e-Invoices since December 1, 2018, while suppliers to public administrations must issue e-Invoices since July 1, 2019. The Fiscalization...
3 months ago
E-Invoicing heatmap for Europe
Last update: July 23, 2024 Source B2G: Preparatory study on the effects of the Directive 2014/55/EU on electronic invoicing in public procurement – Page 40 See also E-Invoicing/Real Time Reporting – What...
3 months ago
E-Invoicing in Poland
E-Invoicing is currently accepted, as well as paper or PDF invoices. E-Invoicing should become mandatory both for B2G & B2B transactions in 2026 through the “KSeF” central platform using the “FA(2)” (XML) format...
3 months ago
EU has not yet reached agreement on VAT in the digital age (ViDA) proposal
The Economic and Financial Affairs Council (ECOFIN) of the EU met on 14 May 2024 to discuss changes to the EU Value Added Tax (VAT) rules as part of the VAT in the digital age (ViDA) initiative. However, the Ministers...
3 months ago
New approval timeline for the latest ViDA proposal publication
The ViDA proposal consisting of Digital Reporting Requirements, Single VAT Registration, and VAT treatment of the platform, has faced a potential approval delay until the end of June 2024. Effective from 1 July 2030...
3 months ago
ECOFIN meeting on 14 May 2024 did not reach the expected agreement on ViDA
The latest ECOFIN meeting on 14 May 2024 did not reach an agreement on the ViDA package. Negotiations between Member States continue. The implementation of the first Pillar about e-invoicing and digital reporting...
3 months ago
