Brazil enacted tax reform under Constitutional Amendment 132 on 11.11.2024 The reform aims to simplify and modernize Brazil’s complex tax system Five existing taxes (PIS, Cofins, IPI, ICMS, and ISS) have been...
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Emirati Ministry of Finance announces VAT e-invoicing system amendments for businesses and government entities.
Emirati Ministry of Finance announced amendments to VAT e-invoicing system Amendments include introducing definition for “eInvoicing system” and expanding definitions of “tax invoice” and...
Germany’s E-Invoicing Guidelines: Requirements, Formats, and Transmission Methods
Germany’s Federal Ministry of Finance issued guidelines for implementing the country’s electronic invoicing mandate The mandate is set to begin in January 2025 as part of The Growth Opportunities Act...
New Zealand Government Mandates B2G E-Invoicing for Faster Payments by 2026
New Zealand government introducing B2G E-invoicing in 2026 Procurement Rules mandate government agencies to use e-invoices and ensure payments within 5 business days Measure to enhance payment timelines for small...
Malaysia’s 2024 E-Invoicing Guidelines: What You Need to Know
Updated E-Invoicing guidelines for 2024 released by the Malaysian Inland Revenue Board Mandatory E-Invoicing dates for different turnover levels: August 1, 2024 for turnover exceeding 100 million ringgits, January 1...
Simplified VAT Registration: Impact on B2B Transactions in the Digital Age
Globalized supply chains require companies to register for VAT in countries outside their residence Compliance costs and lack of harmonization in EU create challenges for businesses EU’s ‘VAT in the Digital...
New regulations on billing programs in Spain: The VERI*FACTU Regulation. Pros and cons of the TJUE ruling.
New regulations on billing programs in Spain: The VERI*FACTU Regulation Order HAC/1177/2024 published on October 28, 2024, developing technical specifications for billing systems Aimed at ensuring integrity...
E-Invoicing & E-Reporting developments in the news in week 45/2024
Click HERE for the PODCAST version discussing ”E-Invoicing & E-Reporting developments in the news in week 45/2024” Follow the latest updates on E-Invoicing and Real Time Reporting on www.vatupdate.com and...
KSeF from February 2026, Facilitations for Taxpayers – There is a Draft Law
The mandatory KSeF will enter into force on 1 February 2026 for taxpayers whose sales value will exceed PLN 200 million in 2025, and for others from 1 April 2026. Until the end of 2026, it will be possible to...
E-invoicing To Be Mandatory for EU VAT by 2030
Agreement has been reached on a package of digital measures for VAT in the European Union (EU), including the introduction of a real-time digital reporting system through electronic invoicing (e-invoicing). Source: www...
Is The Fraud Element of the EU VAT Gap Accurate?
Last year’s estimate, covering 2021, but the gap at €61 billion, down from €99 billion in the previous year. This includes VAT fraud, errors, unpaid taxes due to bankruptcies and poor collections… Source: vatcalc...
VIDA at ECOFIN: Further Delays
VAT System Revisions: The European Union is reforming its VAT rules to address challenges posed by the digital economy and cross-border e-commerce, with a significant ECOFIN agreement reached on November 5 to simplify...
New Zealand’s Accelerated B2G e-Invoicing Mandate: Fast-Tracking Payments and Digital Adoption
Expanded e-Invoicing Requirements: By January 1, 2026, a wider range of New Zealand government agencies, including ACC, Waka Kotahi, Health NZ, and NZ Police, must be capable of issuing and receiving e-Invoices...
Estonia Expands E-Invoicing Rules from July 2025
Estonia is enhancing its e-invoicing framework with new regulations set to take effect on July 1, 2025, aimed at increasing the adoption of e-invoicing in the private sector by simplifying the registration process for e...
The Polish government starts the final consultations on the KSeF draft Act and schema FA_VAT (3)
On November 6, 2024, the Polish Ministry of Finance released a draft amendment to the KSeF (National e-Invoice System) obligation, along with new technical documents outlining the draft schemas FA_VAT(3) and...
GSTN lowers a threshold of a 30-day window for IRP e-invoice reporting
As of April 1, 2025, the Indian government will require taxpayers with an annual aggregate turnover (AATO) of INR 10 crores (approximately EUR 110,000) to report e-invoices through the Invoice Registration Portal (IRP)...
CEN Technical Commitee 434 to revise electronic invoicing standard
The European Standard on Electronic Invoicing (EN 16931–1) is undergoing revision by the CEN Technical Committee 434 to align with upcoming legislative requirements, including the ViDA proposal and Germany’s B2B...
The Polish Ministry of Finance publishes assumptions to the VAT draft law on KSeF
The Polish government has introduced proposed amendments to the VAT obligations concerning the KSeF (National e-Invoice System), allowing additional time for taxpayers to comply with certain requirements and permitting...
KSeF – draft amendment. What changes for e-invoicing?
Phased Implementation of KSeF: Starting from February 1, 2026, large companies in Poland (with sales exceeding PLN 200 million in 2025) will begin transitioning to the National e-Invoicing System (KSeF), followed by...
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...
Summary of E-Invoicing and E-Reporting in Denmark
Regulatory Framework E-invoicing is mandatory for B2G (business-to-government) transactions. Both parties must be capable of handling electronic invoices. While B2B (business-to-business) invoicing is not yet mandatory...
EU member states reach political consensus on ViDA package
ECOFIN Meeting and Agreement on ViDA Proposal: On 5 November 2024, the Economic and Financial Affairs Council (ECOFIN) held its first meeting under the Hungarian presidency and reached an agreement on the VAT in the...
Dominican Republic announces new implementing regulations for the e-invoicing system
New e-CF Status: The status “Anulado” (Annulled) has been added for Electronic Tax Receipts (e-CF) under Decree 587-24. Extension for New RNC Registrants: Taxpayers newly registered in the National Registry...
National e-Invoicing System (KSeF): Updates on Legal and Business Solutions for Seamless Rollout
Phased Implementation Timeline: Poland’s Ministry of Finance has introduced a phased rollout for mandatory e-Invoicing through the National e-Invoicing System (KSeF), starting February 1, 2026, for large...
Proposed Legal Solutions for Mandatory Implementation of Poland’s National e-Invoicing System
Poland’s Ministry of Finance is finalizing consultations on the mandatory implementation of the National e-Invoicing System (KSeF) The system was originally set to be mandatory by July 1, 2024, but has been...
Latvia’s Mandatory e-Invoicing: Driving Efficiency and Compliance in Financial Transactions
Latvia has enacted a new e-Invoicing mandate for both public and private sector transactions The legislation mandates the use of structured e-Invoices for B2G transactions starting January 1, 2025 and for B2B...
France’s DGFIP mandates use of Partner Dematerialization Platform for B2B e-Invoicing.
France’s fiscal and tax authority announced that the Public Invoicing Portal will no longer handle direct exchanges of invoices Businesses engaged in B2B invoicing must now use a registered Partner...
Harmonization of e-invoices from 2035. What awaits Polish and European entrepreneurs?
European finance ministers have reached an agreement to introduce a unified e-invoicing standard in the EU from July 2030 Poland is preparing to implement its own e-invoicing system, with a transition period until 2034...
