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...
All Technology Posts
Importance of Implementing Uniform e-VAT System for Efficient Tax Collection in Ghana
Ghana Revenue Authority has improved tax collection and compliance Implementation of e-VAT system crucial for efficient tax collection Current VAT system relies on manual processes, leading to inefficiencies and...
3 months ago
Estonia Blocks EU VAT Plan for Digital Platforms, Citing Unfair Tax Burden on Small Businesses
Estonia vetoed EU plan to add VAT on digital platforms Proposal aimed to make platform services register to pay VAT Could have increased cost of online rental and ridesharing by 25% Estonia’s Tax Board to compare...
3 months ago
Estonia Blocks EU Plan to Tax Airbnb and Uber-style Platforms, Citing Concerns Over Consumer Prices
Estonia blocked EU plans to put VAT on Airbnb and Uber-style online platforms Concerns were raised about potential price increases for consumers EU tax commissioner denied claims that the tax would only affect SMEs...
3 months ago
Estonia Blocks EU Plan to Tax Airbnb and Uber-style Platforms: VAT Controversy Unfolds
Estonia vetoed EU plans to put VAT on Airbnb and Uber-style online platforms Concerns include higher prices for consumers and unfair competition for SMEs EU tax commissioner denies claims that the tax is on SMEs Belgium...
3 months ago
Stalemate over VIDA VAT proposal persists as Ecofin Council fails to reach agreement
Ecofin Council failed to reach agreement on VAT in a Digital Age (VIDA) proposal Estonia opposes considering digital platforms as commission agents for short-term rental services Estonia agrees with mandatory digital...
3 months ago
ViDA Package Faces Delay as Estonia Opposes Deemed Supplier Rules: Belgian Presidency Targets June Agreement
ViDA package faces delay in approval at ECOFIN meeting Estonia opposes deemed supplier rules but supports DRR and single VAT registration rules Estonian representative concerned about impact on small and medium-sized...
3 months ago
Update of National e-Invoice System API on test environment
Update of the National e-Invoice System API on the test environment Planned update on May 16, 2024, from 09:00 to 19:00 on the test environment Update includes new features such as generating UPO in v4 version...
3 months ago
The Power of E-Invoice: Revolutionizing Tax Compliance and Economic Transparency
Tax compliance requires trust in data, which governments do not always have Business visibility is important for meeting objectives, but not necessarily perfect Governments are slow to adopt digital tools for tax...
3 months ago
Streamlining Tax Control to Combat Fraud: The Link Between Simplification and Enforcement
Skattekontroll and simplification of regulations go hand in hand Recent report suggests measures to combat VAT fraud Suggestions include strengthening control at VAT registration, developing systems to identify invalid...
3 months ago
The Role of Digital Signatures in Ensuring Security and Compliance in e-Invoicing
Digital signatures are crucial for ensuring the authenticity and integrity of invoices in e-Invoicing projects. They use encryption algorithms to prevent tampering, and digital certificates issued by trusted authorities...
3 months ago
BREAKING: The Council of the EU did NOT approve the VAT in the Digital Age Proposal
During the meeting of the Council of the EU on May 14, 2024, a compromise was NOT approved on the VAT in the Digital Age proposal. Reason: Deemed supplier regime for platforms in short-term accommodation and road...
3 months ago
Overcoming Hurdles in E-Invoicing Implementation in Malaysia’s Older Economic Sectors
Older economic sectors in Malaysia are now reliant on technology for various processes, including data management, surveillance, and marketing. The introduction of mandatory e-invoicing poses a significant challenge for...
3 months ago
Pakistan’s FBR Updated Version 1.3 Technical Specifications
Pakistan Federal Board of Revenue (FBR) introduces updated technical specifications (version 1.3) for data sharing via API. The specifications align with Pakistan’s shift towards mandatory e-invoicing in the...
3 months ago
KSeF from 1 February 2026 – the Sejm adopted the law
The obligatory National e-Invoicing System will enter into force on 1 February 2026. This is assumed by the amendment to the VAT Act, adopted on Thursday by the Sejm. The Ministry of Finance announced earlier that there...
3 months ago
Ecofin meeting on VAT in the Digital Age (ViDA): Changes to the EU VAT Directive, Implementing Regulation, ..
Ecofin will meet on May 14, 2024 to discuss VAT in the Digital Age: The Council will seek a political agreement on the value-added tax (VAT) in the digital age package. This package consists of three proposals to tackle...
3 months ago
D-Day for VAT in the Digital Age (ViDA) – Will EU businesses get some perspective on the spaghetti of E-Invoicing & e-Reporting regulations?
On May 14, 2024, the Ecofin meeting will discuss and eventually approve the Revised VAT in the Digital Age (ViDA) regulation. Sources Revised draft: data.consilium.europa.eu ViDA proposal dd. Dec 8, 2022 See also ViDA...
4 months ago
EU Finance Ministers to Discuss ViDA and FASTER Tax Agreements on 14 May
EU Finance Ministers meeting on 14 May in Brussels Aim to reach agreements on FASTER and ViDA tax files Agreement on FASTER likely, main issue is market capitalisation ratio Uncertainty on agreement for ViDA package...
4 months ago
EU VAT Reforms: Marketplaces Exempt from Deemed Supplier Obligations in Digital Age
EU VAT in the Digital Age drops proposal to extend VAT deemed supplier obligations on facilitating marketplaces Marketplaces are no longer responsible for their EU-resident sellers’ B2C goods transactions The...
4 months ago
Overview and Timetable of Proposed VAT Changes in the Digital Age: Compromise Proposal 2024
EU Commission published draft Directive for ‘VAT in the Digital Age’ initiative on 8 December 2022 Compromise proposal under current Belgian Council Presidency published on 8 May 2024 Timetable for changes...
4 months ago
List of Potential Partner Dematerialization Platform (PDP) Operators in France
Including Comarch and Sovos Businesses in France transitioning to electronic invoicing can choose partner dematerialization platforms or the public invoicing portal French Ministry of Finance has published a list of...
4 months ago
Deputy Prime Minister and Finance Minister Ludmila Petkova to Attend ECOFIN Council Meeting in Brussels
Deputy Prime Minister and Minister of Finance Lyudmila Petkova will participate in the regular meeting of the Council of the European Union on Economic and Financial Affairs (ECOFIN) on May 14 and 15 in Brussels The...
4 months ago
On ECOFIN’s agenda: updated EU proposal for VAT reforms in the Digital Age
On May 8, 2024, the European Commission released a significant update of the VIDA package “VAT in the Digital Age”, reflecting ongoing adjustments and dialogue among EU member states since the initial...
4 months ago
New Regulatory Update: Kenya’s Electronic Tax Invoice Regulations 2024
Kenya has gazetted the Tax Procedures (Electronic Tax Invoice) Regulations, 2024, revoking the previous 2023 regulations. This aims to enhance VAT compliance and digital transaction tracking. All businesses in Kenya...
4 months ago
New SDK 1.0 Released by LHDNM
LHDNM in Malaysia has released significant updates to its SDK, including enhanced validations, documentation, signature updates, new additions, and visual and functional enhancements. These updates are designed to...
4 months ago
EU Tax and Customs Union DG’s 2024 Agenda: Prioritizing Tax Reforms and International Cooperation
EU’s Directorate-General for Taxation and Customs Union (DG TAXUD) has set out its management plan for 2024 Prioritizing work to support delivery of various tax reforms, including OECD’s two-pillar...
4 months ago
ViDA explained #1: Are Summary Invoices still allowed?
Summary As of July 1, 2027 Summary invoices are allowed for both supplies of goods or services for supplies where VAT becomes chargeable in the same calendar month For intra-EU acquisitions of goods (art. 138) and...
4 months ago
VAT In The Digital Age: Impact Of Revised Proposals On EU Businesses
The European Commission has released revised proposals for the ‘VAT in the Digital Age’ (ViDA) reform, which will be discussed by the Economic and Financial Affairs Council (ECOFIN) on May 14, 2024. If there...
4 months ago
