Dr. Matthias Gehm discusses tax exemption for rental activities under § 4 No. 12 letter a UStG The “Praxisfälle” section features a specific case related to VAT that is of general interest Readers can...
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Poland’s Proposed Reforms to National VAT E-Invoicing System: Key Provisions and Consultation Request
Polish Ministry of Finance proposing changes to National VAT e-Invoice System (KSeF) Key provisions of the draft amendment include mandating KSeF e-invoicing for all taxpayers simultaneously Introducing an offline mode...
5 months ago
European Commission proposes to maintain VAT deduction restrictions on Romanian motor vehicles
European Commission proposes to maintain restrictions on right to deduct VAT on motor vehicles in Romania Subscription to IBFD required for more details Source: research.ibfd.org Note that this post was (partially)...
5 months ago
Extended Response Times Due to Easter and Month-End – Important Information for Import System Users
Extended response times due to Easter and month-end Attention is drawn to the possibility of extended response times if large amounts of import declarations are submitted in a short period of time It is recommended to...
5 months ago
Barbados Revenue Authority Updates VAT Rates and Exemptions for Electricity and Equipment
Barbados Tax Agency announced updated VAT rates on electricity and exemptions on certain equipment Reduced VAT rate of 7.5% for first 250 kilowatt-hours of electricity for certain consumers Standard VAT rate of 17.5%...
5 months ago
Serbia Updates VAT Rulebook with Measures for Independent Sellers and Tax Exemptions
Serbian Official Gazette published a regulation amending the rulebook on VAT Measures include calculating VAT on market value of goods and services sold by independent seller Defines independent seller and determines...
5 months ago
Romania Extends E-Invoicing Penalty Relief to 31 May 2024
Romania has published Emergency Ordinance no. 30 of 28 March 2024 in the Official Gazette. Among other things, the Emergency Ordinance amends certain provisions of Law no. 296/2023 with regard to the e-invoicing...
5 months ago
Joint declaration Enhancing eInvoicing interoperability between the United States and the EU
Key points regarding eInvoicing and the collaboration between the United States and the European Union (EU): eInvoicing Transformation: eInvoicing is a powerful tool in modern business, offering efficiency gains, cost...
5 months ago
E-Invoicing Exchange Summit: Update on the B2B Digital Highway for North America
The U.S. took a significant leap forward in its Electronic Invoicing endeavours by successfully transferring the first invoice via the U.S. open exchange network on March 5th – using DBNAlliance, the new E...
5 months ago
Paraguay e-invoice Marangatú SIFEN 2024 update
SIFEN e-invoicing small company mandate April to Aug 2024 Source vatcalc See also Worldwide Upcoming E-Invoicing mandates, implementations and changes – Chronological Join the Linkedin Group on Global E-Invoicing/E...
5 months ago
Updates of e-invoice guidelines and Software Development Kit for MyInvois System (API)
The Inland Revenue Board of Malaysia (IRBM) has released the Software Development Kit (SDK) version 1.0 and updated e-invoicing guidelines. The SDK 1.0 includes updates to validations and documentation, with new...
5 months ago
New GSTR-1 Update: GSTN enables Auto HSN Summary Import from E-Invoices for Efficient Filing
A new feature has been introduced in the GSTR-1 filing process for taxpayers who generate e-invoices. This feature allows taxpayers to directly import HSN data from their e-invoices into the GSTR-1 form. It streamlines...
5 months ago
Germany’s Road To Mandatory E-Invoicing: What Businesses Need To Know
Germany is embracing the global trend of mandatory e-invoicing, with the Growth Opportunities Act mandating electronic invoices for domestic B2B sales from 2027. From January 2025, all businesses in Germany must be...
5 months ago
KSeF: The Ministry of Finance proposes changes to the National e-Invoicing System
The Ministry of Finance has proposed a draft legal amendment to the National e-Invoicing System for consultation. The system, which was supposed to become mandatory from 1 July 2024, has faced performance issues...
5 months ago
Malaysia MyInvois e-invoicing Aug 2024; new software kit
Aug 2024 phased MyInvois B2B e-invoicing; new software development kit published Source vatcalc See also Worldwide Upcoming E-Invoicing mandates, implementations and changes – Chronological Join the Linkedin Group on...
5 months ago
ecosio webinar – E-invoicing is becoming mandatory in Germany – What you need to know (April 11)
Register HERE Thursday, April 11, 2024: 10:00 a.m. – 10:40 a.m Join ecosio’s experts for an in-depth analysis of German e-invoicing legislation and find out how companies can prepare for the upcoming...
5 months ago
Amadeus and Taxera Partner to Revolutionize E-Invoicing for Global Travel Sellers
Amadeus partners with Taxera Technologies to bring e-Invoicing technology to travel sellers worldwide The partnership aims to streamline, secure, and automate processes for travel sellers E-Invoicing is becoming...
5 months ago
Romania Extends Grace Period for E-Invoicing Compliance: No Fines Until May 31, 2024
Romanian Parliament adopted tax and budgetary measures including compulsory electronic invoicing Grace period initially scheduled from 1 January 2024 to 31 March 2024 Government Emergency Ordinance (GEO) no. 30/2024...
5 months ago
Notice of Temporary Suspension of Tax-related Services for Purchase
Notice regarding the suspension of some tax-related services Effective from March 29, 2024 Upgrade of electronic invoice service platform and VAT invoice management system from 20:00 to 24:00 Aimed at improving taxpayer...
5 months ago
Proposed Amendments to Legislation for Mandatory KSeF: Consultations and Implementation Deadlines
Ministry of Finance introduced draft amendments to legislation for mandatory National e-Invoicing System (KSeF) into consultations New deadline for mandatory KSeF implementation to be announced in late April/early May...
5 months ago
Poland Ministry of Finance Seeks Feedback on VAT E-Invoicing Amendment Consultation
Polish Ministry of Finance seeking comments on draft amendment to Mandatory VAT E-Invoicing Act Draft includes measures to introduce mandatory e-invoicing for all taxpayers on a single date Offline mode to be...
5 months ago
Current status of E-Invoicing in Asia Pacific
Last update: April 15, 2024 Implemented Indonesia – As of July 2015 Indonesia uses an electronic invoicing system called e-Faktur Pajak, which became mandatory in stages starting in July 2015. Mandatory: Since...
5 months ago
Mandatory E-invoicing in the Philippines. Is Your Company Ready?
E-invoicing in the Philippines has undergone several changes in the last few years regarding its e-invoicing guidelines. In 2018, the Philippines launched Tax Reform for Acceleration and Social Inclusion (TRAIN)...
5 months ago
Mandatory Electronic Invoicing in Vietnam
E-invoices have been mandatory in Vietnam since July 1 2022 for all taxpayers. The system promises to save time and money, which will contribute to greater efficiency of businesses and tax authorities. Source Comarch...
5 months ago
Four Keys to Developing the Right Tax Tech Strategy
The global tax landscape is rapidly evolving with significant developments such as the OECD’s Pillar Two rules, CESOP, ViDA rules in the EU, and e-reporting mandates. These changes increase compliance requirements and...
5 months ago
E-Invoicing & E-Reporting developments in the news in week 13 & 14/2024
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 of week 13 & 14/2024 EU e-invoicing and e...
5 months ago
Data archiving and cybersecurity: Working hand-in-hand for vulnerabilities
The more our operational dependencies and data shift towards the digital landscape, the more we are under constant cyberthreats. The statement seems unnerving and discouraging, but, unfortunately, it is true! But do we...
5 months ago
French E-invoicing Decree Enacted
Decree No. 2024-266 has been enacted, introducing provisions for a transitional period and regulations regarding partner dematerialization platform (PDP) registration. The decree establishes a provisional process for...
5 months ago
