Decree establishing the Regulation of the Electronic Invoicing Law was enacted on October 10 Relevant points include definitions of billing system elements, deferred sending of tax receipts, and requirements to be an...
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Impact of Brazil’s Tax Reform on Electronic Invoicing: A Simplified and Modernized Approach
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...
8 months ago
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...
8 months ago
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...
8 months ago
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...
8 months ago
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...
8 months ago
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...
8 months ago
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...
8 months ago
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...
8 months ago
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...
8 months ago
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...
8 months ago
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...
8 months ago
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...
8 months ago
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...
8 months ago
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...
8 months ago
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...
8 months ago
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)...
8 months ago
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...
8 months ago
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...
8 months ago
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...
8 months ago
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...
8 months ago
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...
8 months ago
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...
8 months ago
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...
8 months ago
EU Council reaches agreement on VAT in digital age legislation, welcomed by DStV.
The EU Council has reached an agreement on the legislation package for value-added tax in the digital age The agreement allows for the introduction of legal changes within negotiated deadlines The DStV welcomes the...
8 months ago
KSeF Amendment: Phased E-Invoicing Implementation and Offline Mode Until 2026
Ministry of Finance presented draft bill amending KSeF regulations Companies in Poland will switch to National e-Invoicing System (KSeF) in stages from 2026 Proposed taxpayer-friendly simplifications during first period...
8 months ago
ViDA: Digitalizing VAT in the EU for Improved Competitiveness and Fairness
EU Council reached agreement on “VAT in the Digital Age” legislative package Package consists of five articles with significant impact Member States can introduce mandatory e-invoicing Supply chain fiction...
8 months ago
VAT in the Digital Age: New Rules for Electronic Invoicing and Reporting Requirements
Changes to VAT Directive include e-invoicing and digital reporting obligations Member States have more options for implementing e-invoicing and reporting obligations Mandatory e-invoicing for national transactions...
8 months ago
