The Greek government has approved a new VAT Code, law 5144/2024, replacing the outdated 24-year-old VAT Code, law 2859/2000 The new code updates the language and structure to meet current standards but does not...
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Agenda for the 47th Meeting of the Group on the Future of VAT
Group on Future of VAT to hold its 47th meeting on 2 December 2024 Meeting organized by the European Commission’s Directorate-General for Taxation and Customs Union Agenda includes a welcome and introduction...
7 months ago
Sweden Adopts Peppol BIS Standards for Enhanced E-Procurement Efficiency
Sweden’s public sector e-procurement initiative, SFTI, will adopt Peppol BIS standards by July 1, 2025 This move will replace the older EDIFACT-based SFTI ESAP 6 standard for purchase orders Peppol BIS standards...
7 months ago
Spain Implements Mandatory Verifactu Invoicing Software for Tax Compliance by 2025
Spanish resident taxpayers must use approved invoicing systems called verifiable invoicing systems or VERI FACTU systems The requirement is specified in the Royal Decree 1007/2003 of 5 October 2024 Businesses already...
7 months ago
Uruguay Sets December Deadline for VAT Payers to Adopt E-Invoicing
Uruguay Tax Agency sets December 31 as the deadline for VAT payers to join the e-invoicing regime Starting January 1, 2025, all VAT payers must switch to electronic invoicing upon registration, resuming activities, or...
7 months ago
Portugal Delays Qualified Digital Signature Mandate for E-Invoicing to 2026
Portugal delayed the requirement for a qualified digital signature on electronic invoices The original implementation date was set for 1 January 2025 The new deadline is now 1 January 2026 Until 31 December 2025, PDF...
7 months ago
UAE FTA Updates VAT Law, Introduces Mandatory e-Invoicing System
UAE FTA published Federal Decree-Law No. 16 of 2024 on September 30, 2024 The law establishes a legal framework for e-invoicing and amends the VAT Law E-invoicing replaces paper-based invoicing with electronic processes...
7 months ago
India Lowers E-Invoicing Threshold to ₹10 Lakh, Effective April 2025
India’s GST Council will lower the e-invoicing reporting threshold starting April 1, 2025 Businesses with an annual turnover over 10 lakh INR must submit invoices within 30 days of issuance Non-compliance will...
7 months ago
EU VAT Reform: Navigating E-Invoicing Compliance in the Digital Age
The European Commission has proposed significant VAT reforms affecting businesses in the EU single market The focus of these reforms is on when they will be implemented rather than if they will be implemented VAT in the...
7 months ago
Estonia Plans Mandatory E-Invoicing for VAT Business Transactions by 2027
Estonia’s finance ministry plans to require electronic invoicing for all business-to-business transactions that are subject to value-added tax This initiative is part of a legislative proposal aimed at enhancing...
7 months ago
Estonia Implements Mandatory E-Invoicing for VAT-Subjected B2B Transactions
Estonia’s finance ministry has started a legislative process for mandatory e-invoicing in all VAT-subjected B2B transactions The current 1,000-euro threshold for declaring taxable transactions will be removed The...
7 months ago
Key Differences Between B2B and B2G E-Invoicing Transactions in the U.S.
B2G E-Invoicing Mandate: Business-to-government (B2G) electronic invoicing has been mandatory in the US since late 2018, requiring invoices to include contract numbers and comply with the Federal Acquisition Regulation...
7 months ago
New OIOUBL 3.0 invoice standard released in Denmark
The Danish Business Authority has published the OIOUBL 3 invoice package as a “release candidate,” marking significant changes to e-invoicing in Denmark. The final release is scheduled for April 10, 2025...
7 months ago
Upcoming regulatory changes in Germany
As of January 1, 2025, Germany will reduce the retention period for invoices from ten years to eight years, following the amendments in the Fourth Bureaucracy Reduction Act and the Annual Tax Act 2024. Small businesses...
7 months ago
Romania provides further insight into upcoming B2C invoicing requirements
Romania has circulated draft legislation that supplements and clarifies the obligation to report invoices for B2C transactions, which will begin in January 2025 as established by legislation passed in June 2024. The new...
7 months ago
Romania’s Proposed Changes to e-Invoicing, e-Transport, and e-VAT Systems
Romania is set to introduce major updates to its e-Invoicing, e-Transport, and e-VAT systems through a Draft Government Emergency Ordinance published on December 2, 2024, aimed at enhancing fiscal compliance and...
7 months ago
Download the Ultimate Guide to Belgium’s e-Invoicing Compliance
What’s Inside the e-Book? Best Practices: Practical advice on transitioning to structured e-Invoicing and ensuring data integrity. Overview of Belgium’s e-Invoicing Regulations: A clear explanation of the new...
7 months ago
The reputational risk of issuing invoices without QR or with QR not Veri*factu
Reputational risk refers to threats that can damage a company’s image with stakeholders, and its assessment is crucial in today’s interconnected world where information spreads rapidly through media and...
7 months ago
Benefits of Adopting InvoiceNow Solutions for Your Business
Streamlined Processes and Efficiency: InvoiceNow enables direct electronic transmission of invoices, integrating seamlessly with finance systems to automate sending, receiving, and data entry tasks. This automation...
7 months ago
Japan Aligns with Peppol Standards: Updated Specifications for Cross-Border Invoicing
Alignment with Peppol Standards: Japan updated its invoicing standards on June 1, 2024, to align with Peppol PINT BIS Billing version 1.0.2, introducing revised templates, clearer guidelines, and jurisdiction-specific...
7 months ago
Saudi Arabia announces 18th wave of Phase 2 e-invoicing integration
Saudi Arabia’s Zakat, Tax and Customs Authority has announced the criteria for taxpayers to be included in the 18th wave of Phase 2 e-invoicing integration. Taxpayers resident in Saudi Arabia, with a taxable...
7 months ago
Saudi Arabia Announces 18th Wave of Phase 2 E-Invoicing for VAT Taxpayers
Saudi Arabian Tax and Customs Authority announced the 18th wave of Phase 2 of the e-invoicing initiative This wave targets taxpayers with a minimum revenue of SAR 2 million from 2022 or 2023 who were also subject to VAT...
7 months ago
Romania Extends e-Invoicing from B2B to B2C Starting January 2025
Starting January 2025, eFactura B2B e-invoicing regime will be extended to B2C The Romanian Ministry of Finance has confirmed this in a draft Emergency Ordinance New requirements will be implemented from 1 January 2025...
7 months ago
Poland Implements Mandatory E-Invoicing System KSeF by 2026
Poland is advancing its tax system by implementing the National e-Invoicing System known as KSeF The mandatory adoption date for KSeF has been moved to February 1, 2026, for large taxpayers and April 1, 2026, for other...
7 months ago
Uruguay Sets Dec. 31 Deadline for VAT Payers to Adopt E-Invoicing System
The Uruguayan General Directorate of Taxation announced a Dec. 31 deadline for VAT payers to adopt the e-invoicing system Starting Jan. 1, 2025, all VAT payers must use electronic invoicing upon registration, resuming...
7 months ago
Russia Continues Zero VAT Rate for Hotel Services
The Uruguayan General Directorate of Taxation announced a Dec. 31 deadline for VAT payers to adopt the e-invoicing system Starting Jan. 1, 2025, all VAT payers must use electronic invoicing upon registration, resuming...
7 months ago
Romania’s E-Invoicing Reform: Simplified Invoices and Updated B2C Privacy Rules
Romania is introducing significant changes to its e-invoicing system, aiming to enhance tax compliance and expand the data available to tax authorities. Key changes include: Simplified Invoices: Invoices below €100...
7 months ago
Worldwide updates on E-Invoicing/Real Time Reporting/SAF-T in November 2024
The Overviews Worldwide Upcoming E-Invoicing mandates, implementations and changes – Chronological Timeline of B2B E-Invoicing & E-Reporting mandates in the European Union E-Invoicing heatmap for Europe Europe...
7 months ago
