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...
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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...
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...
Greece: myDATA Technical Specifications v.1.0.10 Published in Test Environment
The Greek Independent Authority for Public Revenue (AADE) has released updated myDATA technical specifications, version 1.0.10, now available in the myDATA Test Environment. Key updates include allowing fuel invoices to...
Malaysia: e-Invoicing Mandate Enters Second Phase at the Start of 2025
Malaysia’s Inland Revenue Board (IRBM) will begin the second phase of its e-invoicing mandate on January 1, 2025, targeting companies with annual turnovers between RM 25 million and 100 million (approximately 5-20...
New Era for Swedish E-Procurement: SFTI Transitions to Peppol BIS Standards
Sweden’s Single Face to Industry (SFTI) initiative will update its e-procurement standards, phasing out older formats in favor of Peppol BIS, starting July 1, 2025. The EDIFACT-based SFTI ESAP 6 standard for...
Bosnia and Herzegovina Mandates E-Invoicing and Reporting for Online Transactions
Bosnia and Herzegovina government plans to introduce mandatory electronic invoicing and reporting Aim is to combat tax fraud, particularly in online sales and digital platforms More details to be released soon Source:...
Saudi Arabia Sets Criteria for 17th Wave of e-Invoicing Integration: FATOORA Compliance Guidelines
Saudi Arabia has defined criteria for the 17th wave of e-Invoicing integration The criteria were unveiled by the Saudi Zakat, Tax, and Customs Authority (ZATCA) The e-Invoicing implementation is being executed in waves...
GST E-Invoice Compliance: Upload Within 30 Days from April 2025 – Key Implications and Changes
Starting April 1, 2025, e-invoices must be uploaded to the Invoice Registration Portal (IRP) within 30 days from the date of invoice generation The rule aims to streamline GST compliance and improve reporting accuracy...
E-Invoicing and E-Reporting Regulations in Denmark: A Comprehensive Overview for Fiscal Compliance
E-invoicing is mandatory for B2G transactions in Denmark Digital reporting regulations introduced in 2023, with compliance starting January 2024 Upcoming deadlines include financial statement submissions by January 1...
Poland Ministry of Finance Seeks Feedback on Mandatory VAT E-Invoicing Changes
Polish Ministry of Finance opens consultation on mandatory VAT e-invoicing amendments Bill No. UD158 proposes changes to the national VAT e-invoicing system known as KSeF Proposed amendments include mandatory e...
FURS Enhances Communication Security with TLS Certificate Replacement in Slovenia’s Tax System
FURS will replace the digital certificate for TLS connections in its production system on December 3, 2024 The update aims to enhance communication security in Slovenia’s tax system Businesses using tax receipt...
Costa Rica Introduces New E-Invoicing Regulations Effective November 2024
Costa Rica has announced new rules for e-invoicing The Executive Decree No. 44739-H has been published in the Official Gazette New definitions for electronic payment receipts, provisional receipts, and valid electronic...
Why E-Invoicing Can Lead to High Costs for Global Retailers and How to Avoid Them
Complex Integration Requirements: Integrating e-invoicing systems into existing ERP, POS, and accounting systems is complex, especially with varying standards and formats across countries. Diverse National Laws and...
E-Invoicing Exchange Summit Kuala Lumpur 2024 (Nov 25-27)
Source: Exchange Summit Press Release E-Invoicing Exchange Summit Asia Pacific: Actionable Steps for Compliance and Efficiency with E-Invoicing Switzerland, October 2024 – The E-Invoicing Exchange Summit Asia Pacific...
The Government Publishes Proposals for Updating the Conditions for the National e-Invoice System (KSeF)
Draft Law Proposal: The government proposed amendments to the VAT Act to update the National e-Invoice System (KSeF). Extended Transitional Periods: Transitional periods for mandatory KSeF usage will be extended for...
Top Benefits of E-Invoicing for German SMEs: Streamline Operations & Boost Efficiency
Optimizes Cash Flow: E-invoicing accelerates payment cycles, improving cash flow management for SMEs. Reduces Late Payments: Automated reminders help minimize late payments and their associated penalties. Lowers...
Finance Proposes e-VAT Sanction Extension, e-Invoice CNP Changes, and New Invoice Guide by 2025
Extended Deadline for Sanctions: The Ministry of Finance will propose extending the deadline for applying sanctions on pre-completed e-VAT statements to June 30, 2025. Optional CNP Transmission: The Ministry of Finance...
Acceptance of PDF Invoices for VAT Deduction Until 2025
VAT Guidance Nº. 25043 – PDF invoices The Portuguese VAT Department has issued a VAT Guidance, stating that taxable persons are entitled, in accordance with item a) of paragraph 2 of Article 19 of the Portuguese...
Singapore has just Introduced GST InvoiceNow Requirement
Singapore is implementing new e-invoicing requirements for GST-registered businesses through the InvoiceNow network, which will be rolled out in phases. InvoiceNow is based on the international Peppol standard and...
E-Invoicing mandates: The European Union
We are thrilled to announce that the ViDA (VAT in the Digital Age) proposal, has finally achieved assent this week. This package of reforms to Value Added Tax in the European Union has been a long time coming, having...
Video – VAT in the Digital Age (ViDA) explained
On 5 November 2024, the 27 EU Member States reached unanimous political agreement on the VAT in the Digital Age (“ViDA”) proposal. This youtube video of KPMG (Ireland) brings you up-to-speed in less than 5 minutes...
UAE VAT Law Amendments: Simplifying E-Invoicing for Businesses and Government
Amendments to VAT e-invoicing system in United Arab Emirates Designed to simplify, standardize, and automate invoicing processes Benefits for both businesses and government entities Introduction of formal definition for...
Bosnia & Herzegovina E-Invoicing Mandate Proposal
The Balkans state of Bosnia and Herzegovina is formulating a bill to introduce mandatory electronic invoicing, including live reporting to government tax authorities. This is likely to be presented the parliament in...
