KRA introduces eTIMS Lite for small businesses to simplify tax invoicing All businesses, including those in the Informal Sector, must electronically generate and transmit their invoices to KRA eTIMS Lite platform allows...
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MDEC Releases PINT Specifications for Peppol E-Invoicing in Malaysia
MDEC in Malaysia has become the Peppol Authority in the country Peppol framework will be available for exchange of e-invoices Only Peppol Accredited Service Providers can be used First version of e-invoicing...
6 months ago
ViDA Timetable: VAT in the Digital Age Negotiations and Key Pillars Update for 2024
VAT in the Digital Age (ViDA) negotiations did not reach consensus in 2023 Specific goalposts have been set for furthering the ViDA agenda Important dates include January 18, 2024 for reviewing the current ViDA position...
6 months ago
End of KSeF consultations – upcoming VAT law changes on the horizon.
Ministry of Finance has completed consultations on the National e-Invoice System (KSeF) Proposed changes to the VAT law will be presented in the second half of March Sellers may be able to voluntarily issue invoices in...
6 months ago
10,000 participants attend KSeF consultation meetings – legislative solutions and educational initiatives planned
10,000 people participated in consultation meetings regarding KSeF on March 4, 2024 Participants sat in a conference room with microphones and computers on tables The cycle of meetings “Consulting KSeF” has...
6 months ago
10 countries set to mandate B2B e-invoicing: Are you ready to comply?
E-invoicing, or electronic invoicing, is becoming increasingly mandated by tax authorities around the world to reduce national VAT gaps. This structured data format enables automatic and electronic processing of...
6 months ago
Webinar Recap: 2024 Tax Compliance Virtual Symposium | European e-Invoicing Journey
Agenda Highlights Recap: Global and European Focus: An overview of the global e-Invoicing landscape, including updates and compliance strategies in France and Belgium. Country-Specific Insights: Detailed discussions on...
6 months ago
Israels Mandatory B2B E-Invoicing Delayed, Again
Israel’s B2B e-invoicing implementation has been postponed to May 5, 2024, due to the ongoing war, allowing businesses more time to prepare. The system will issue an Allocation Number for VAT invoices, serving as...
6 months ago
What Is E-invoicing? A Comprehensive Guide
Tax digitization involves real-time tax compliance, including e-invoicing, to tighten tax controls and enhance tax collection effectiveness. It encompasses processes such as e-filing, e-invoicing, and e-reporting, which...
6 months ago
Australia’s Revision of Peppol PINT: A Comprehensive Overview
Australia is modernizing its financial systems with a focus on revising Peppol PINT. E-invoicing was introduced in 2019 to streamline business transactions. The recent revision of Peppol PINT aims to further streamline...
6 months ago
Malawi to Launch Mandatory VAT E-Invoicing System in 2024 to Combat Tax Fraud
Malawi to launch mandatory VAT e-invoicing system in 2024 Aim is to curb Value Added Tax fraud and evasion Minister of Finance announced initiative on 23 February 2024 Current VAT rate in Malawi is 16.5% Governmental...
6 months ago
Recent advances in e-invoicing across Africa
Africa is currently undergoing a significant digital transformation at the national, regional, and continental levels, driven by the vision outlined in Agenda 2063. Despite challenges such as limited resources and...
6 months ago
E-Invoicing & E-Reporting developments in the news in week 9/2024
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 9/2024 Belgium has published its E-Invoicing...
6 months ago
Important Update on Germany’s e-Invoicing Legislation – What You Need to Know
The German Parliament’s Mediation Committee made significant progress on the Growth Opportunities Act, which will reshape e-Invoicing in Germany. Key points include mandatory e-Invoicing starting from 2025, and a phased...
6 months ago
Event: E-Invoicing Exchange Summit in Miami – April 22-24, 2024
The E-Invoicing Exchange Summit will be held in Miami from April 22 to 24, 2024. During the conference, a great variety of presentations, user case studies, roundtables and panel discussions ensure everyone’s needs and...
6 months ago
Exciting News for UAE Businesses: Introduction of e-Invoicing Mandate
The UAE Ministry of Finance revealed details about the upcoming Continuous Transaction Controls (CTC) mandate at the e-Invoicing Exchange Summit in Dubai. The UAE will implement e-Invoicing using the Peppol 5-corner...
6 months ago
Electronic Invoicing to Become Mandatory in the German B2B Sector: What, Why and How?
The introduction of e-invoicing in Germany is a significant step towards digital transformation and modernizing financial transactions. Germany has recognized the need to replace paper-based invoicing with electronic...
6 months ago
Worldwide updates on E-Invoicing/Real Time Reporting/SAF-T in February 2024
Worldwide Upcoming E-Invoicing mandates, implementations and changes – Chronological Timeline of B2B E-Invoicing & E-Reporting mandates in the European Union Join the Linkedin group on ”Global E-Invoicing/E...
6 months ago
Update of National e-Invoice System API in Demo Environment on February 29, 2024.
API Krajowego Systemu e-Faktur will be updated on the pre-production environment (Demo) The update will take place on February 29, 2024, from 14:00 to 16:00 The update includes support for eIDAS authorization standard...
6 months ago
Impact of Missing e-Invoices on e-Way Bills: Guidelines and Consequences from March 1, 2024
NIC issued new guidelines for e-way bill on January 5, 2024 Businesses failing to include e-invoice details will have e-way bill generation blocked from March 1, 2024 E-way bill is an electronic document created for...
6 months ago
Poland E-Invoicing Mandate Postponement: Updates on Delay and Consultations
Polish Ministry of Finance postponed the B2B e-invoicing mandate Revised date expected to be announced in April or May 2024 Delay due to critical errors in KSeF functionality Consultations covering 9 main areas...
6 months ago
Belgium Approves B2B E-Invoicing Legislation for 2026 Implementation
Belgium has been progressing swiftly in approving legislation endorsing B2B e-invoicing The Chamber approved Bill No. 55K3743001 in January 2024 The legislation proposes mandatory e-invoicing for B2B transactions...
6 months ago
UAE to Implement Decentralized E-Invoicing Mandate for B2B and B2G Transactions by July 2026
UAE Ministry of Finance and Federal Tax Authority plan to mandate e-invoicing by July 2026 Initially targeting B2B and B2G transactions, with consumer transactions to follow Adopting a “Decentralised CTC and...
6 months ago
Panama E-Invoicing Deadline for Exempt Taxpayers: March 1, 2024
Panama’s e-invoicing trajectory has excluded specific exempt taxpayers Resolution No.201-0418 imposes e-invoicing obligations on exempt taxpayers Expiry date for fiscal equipment exemption certificates is 1 March...
6 months ago
Israel Tax Authority proposes delaying B2B e-invoicing mandate to 2025
Israel is proposing to further delay the B2B e-invoicing mandate until 2025 The mandate was originally scheduled to be implemented in October 2023 but was delayed for three months The B2B mandate in Israel follows a...
6 months ago
Germany’s Future B2B E-Invoicing: Updates on Collaboration and Timeline
Tungsten Automation announced that Germany’s Parliament could not agree on the e-invoicing trajectory Contentious points were referred to the Mediation Committee for further discussion E-invoicing receipt...
6 months ago
Beyond Traditional EDI: Exploring the Integration of XML in e-Invoicing and Statutory Reporting Practices
The shift from Electronic Data Interchange (EDI) to Extensible Markup Language (XML) represents a significant evolution in business data exchange, addressing the demands of the digital era. XML offers greater...
6 months ago
E-invoicing & e-reporting: 4 channels you must know of!
E-invoicing and e-reporting are becoming mandatory globally, driven by the need for faster, more accurate, and efficient processes as well as sustainability. Automation and technology play a significant role in this...
6 months ago
