Saudi Arabian Tax and Customs Authority (ZATCA) announced the 17th wave of Phase 2 of the e-invoicing initiative The 17th wave includes taxpayers with a revenue of at least SAR 2.5 million subject to VAT during 2022 or...
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Latvian Parliament Passes Law Mandating e-Invoicing for Businesses Starting 2025
Latvian Parliament approved mandatory e-Invoicing requirements on 31 October 2024 Law on Amendments to the Accounting Law must be signed by the president and published in the Official Gazette to enter into force Source:...
EU agreement on VAT in digital era: political consensus reached, formal adoption pending
EU member states have reached political agreement on VAT rules for the digital age The agreement includes making VAT reporting obligations for cross-border transactions fully digital by 2030 Online platforms will be...
Estonia Agrees to Support EU Platform Economy Rules After Compromise Offered by Hungary
Estonia initially blocked endorsement of the package in the Council twice Estonia agreed to support the initiative after a compromise was offered by the Hungarian rotating presidency of the EU The compromise allows...
ViDA Act: Revolutionizing VAT Compliance in the EU for a Digital Future
ECOFIN approved the VAT in the Digital Age (ViDA) Act on November 5, 2024 ViDA Act aims to streamline VAT processes and standardize electronic invoicing across EU member states ViDA implementation timeline includes...
Changes to VAT invoicing rules in Sweden and the EU clarified.
Assessment made based on section B-1 of explanatory notes on invoicing Decision to no longer apply the “Scope of application of the VAT Act’s invoicing rules” Text removed and clarifications made under...
Challenges and Decisions for Polish Lawmakers: Implementing ViDA Package by November 6, 2024
ViDA package finally adopted after nearly two years of negotiations Package includes digital reporting, e-invoicing, and economy of digital platforms Controversies arose around digital reporting and economy of digital...
VAT in the Digital Era (ViDA): Three Key New Measures for Businesses
The European Commission welcomes the general approach announced by the Council regarding the proposals for VAT in the digital era The new measures aim to make the EU VAT system more business-friendly and resilient to...
Measures for VAT in the digital era and tax aspects of Draghi’s Eurogroup report.
Measures for VAT in the digital era and tax aspects of Draghi’s report on the Eurogroup table Minister of National Economy and Finance, Kostis Hatzidakis, calls for more ambition in EU competitiveness Resolution...
Key Changes in KSeF Law and Perspectives for Taxpayers
The topic of KSeF is back on the government’s agenda after a period of relaxation due to the decision to postpone its implementation until 2026. Final consultations on KSeF took place at the end of October and the...
MDDP Expert Interview: Changes in National e-Invoicing System and Impact on Businesses
Ministry of Finance is working on amending the law regarding the National e-Invoice System The project is expected to be presented to the Council of Ministers by the end of the year The system has been functioning on a...
Key Provisions of Kenya’s Tax Laws (Amendment) Bill 2024: A Detailed Overview
Kenya’s National Assembly presented the Tax Laws (Amendment) Bill 2024 and the Tax Procedures (Amendment) (No.2) Bill 2024 on 1 November 2024 Both bills are currently under review at the National Assembly The Tax...
EU Agreement: Online Platforms to Collect and Remit VAT – Boosting Digitalization and Fighting Fraud
EU ministers of Finance have agreed on digitalizing the VAT system in Europe after two years of negotiations New rules include electronic invoicing, real-time data provision, and activities on digital platforms to...
EU Member States Approve VAT in Digital Age Package, Setting New Requirements for Businesses
ECOFIN approved the VAT in the Digital Age (ViDA) package on 5 November 2024 The package includes e-invoicing, single VAT registration, and platform economy VAT obligations Estonia supported the package after...
Update of EU VAT Rules: Embracing Digital Age for Fair Taxation and Business-Friendly System
Remarks by Executive Vice-President Dombrovskis at the ECOFIN press conference: As Minister Varga said, ECOFIN agreed to update the EU’s VAT rules to bring them in line with the digital age, keeping up with...
EU Commission Welcomes General Direction on VAT in Digital Era: A Step Towards Fair Competition
The European Commission welcomes the general direction of the Council on its proposals regarding VAT in the digital era The measures aim to make the EU VAT system more business-friendly and resilient to fraud The rules...
Commission’s Proposal on VAT Modernization in the Digital Age: Embracing Digitalization for Business-Friendly System
Commission welcomes general approach on VAT in the Digital Age Package makes EU’s VAT system more business-friendly and resilient to fraud Introduces uniform real-time digital reporting for VAT purposes based on e...
Challenges and Decisions: Implementing ViDA Package in Polish Legislation by 2024
ViDA package finally adopted after almost two years of negotiations Pillar I: electronic reporting and e-invoicing by July 2030 Pillar II: changes to digital platform economy by January 2030 Pillar III: Single VAT...
ViDA Package for VAT in the Digital Age Approved by EU Finance Ministers
EU finance ministers approved the VAT in the Digital Age (ViDA) package at the ECOFIN meeting Agreement was reached on the pillars of ‘Single VAT registration’ and ‘Digital reporting and E...
EU Agreement: Online Platforms to Collect and Remit VAT for Tax Fraud Prevention and Support
EU ministers of Finance have agreed on digitalizing the VAT system in Europe after two years of negotiations New rules include electronic invoicing, real-time data provision, and activities on digital platforms to...
2025 Budget: South Korea’s VAT Act Amendments to Boost Digital Compliance and Support Small Businesses
South Korea proposes amendments to VAT Act for 2025 budget Bill includes measures to encourage digital compliance, prevent tax evasion, and support small businesses Key changes include extending VAT deduction period for...
Key Changes in Draft Law: KSeF Returns to Agenda with Perspectives for Taxpayers
KSeF has returned to the government’s agenda after a temporary pause Implementation of KSeF will be phased, starting in 2026 for taxpayers with sales exceeding PLN 200 million Digitally excluded taxpayers will...
Transition to EU-wide e-invoicing and digital reporting standard for VAT: Three-step process by 2030.
Gradual transition to an EU-wide e-invoicing and digital reporting standard for VAT Three steps in the process: 1. Twenty days after official publication of the proposal (aim: first half of 2025) Member states can make...
EU Finance Ministers Agree on ViDA Package for Digital VAT Compliance by 2035
EU Finance Ministers reached a consensus on the latest version of the VAT in the Digital Age (ViDA) package ViDA initiative includes three pillars with gradual implementation dates Three pillars are Digital Reporting...
Saudi Tax Authority Announces Criteria for Seventeenth Wave of VAT e-Invoicing Integration
Saudi General Authority of Zakat and Tax announced selection criteria for seventeenth wave of linking taxpayer VAT e-invoicing systems Wave begins July 31, 2025 for taxpayers with VAT-taxable revenue exceeding 2.5...
ZATCA Criteria for Group 16 Taxpayers on E-Invoicing Integration: Key Details and Deadlines
ZATCA announced criteria for Group 16 taxpayers for e-invoicing integration Group 16 consists of businesses with an annual turnover of SAR 3 million or more in 2022 or 2023 Taxpayers in Group 16 must integrate their...
ECOFIN’s Approval of ViDA: Streamlining VAT Rules for the Digital Economy
ECOFIN approved the VAT in the Digital Age (ViDA) package on 5 November 2024 ViDA aims to streamline and harmonize EU VAT rules, reduce administrative burdens, and safeguard tax revenues The package includes compromises...
ECOFIN Council agrees on ViDA – E-Invoice
ECOFIN Council agrees on details of ViDA project, which aims to create a transaction-based VAT reporting system ViDA will require the use of mandatory e-invoices, starting in Germany in 2025 New reporting system will...
