The Ministry of Finance is starting consultations on two implementing acts regarding the universal use of KSeF from July 1, 2024. This is a technical regulation and an amendment to the regulation on issuing invoices...
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RTC Webinar – Embracing Poland’s e-Invoicing Revolution: Preparing for July 2024 (Nov 28)
Register HERE Date & Time: Nov 28, 2PM CET Description As the landscape of business transactions evolves, Poland stands on the brink of a significant shift: the introduction of mandatory e-invoicing for B2B...
9 months ago
Ghana issues Budget Statement and Economic Policy for the 2024 Financial Year
VAT measures Extend the value added tax (VAT) Zero-Rating provision for locally manufactured textiles and locally assembled vehicles until December 2025 Reduce the VAT rate on commercial properties from the standard...
9 months ago
France B2B e-invoicing new proposed July 2025 launch
Two e-invoicing & e-reporting amendment proposals: early July 2025 launch large enterprises; delay to Sept 2027 mid-sized businesses. Source vatcalc Proposed amendment to the law See also Worldwide Upcoming E...
9 months ago
E-Invoicing Exchange Summit Asia (Dec 4-6, 2023)
Agenda & Registration from, click HERE When and where December 4 to 6, 2023 in Singapore Short description The next E-Invoicing Exchange Summit will be held in Singapore from December 4 to 6. You may expect in-depth...
9 months ago
New Timeline Suggested for French e-Invoice System
The Direction Générale des Finances Publiques (DGFiP) has made changes to the implementation timeline for the e-Invoice/e-reporting system. The new proposal states that implementation will begin on September 1, 2026 for...
9 months ago
Bahrain NBR Updates VAT General Guide with New Electronic Document Conditions
NBR published updated version of VAT General Guide in Bahrain Updates are related to conditions for issuing electronic documents without prior approval from NBR Access the updated guide by clicking the provided link...
9 months ago
How can Artificial Intelligence Help Close the VAT Gap
National tax agencies in Europe and beyond are increasingly turning to Artificial Intelligence tools to help bring down stubborn Value Added Tax fraud leakage. The EU estimates it loses €50 billion per annum in VAT...
9 months ago
Revised E-Invoicing Regulations in Serbia: Key Changes
The requirement to include information on the business account of recipients will no longer be mandatory as a common element of the electronic invoice. A new requirement will be introduced, which is the inclusion of the...
9 months ago
Global 2024 VAT / GST Changes
Global 2023 VAT / GST Changes
Future global VAT / GST changes
Past VAT GST changes
Source: vatcalc.com
9 months ago
VAT Compliance in Spain for Businesses
Spain VAT compliance is dense, but it doesn’t have to be hard to achieve. Spanish VAT legislation has been amended numerous times since it was introduced, and there are other regulations organisations need to be aware...
9 months ago
E-Invoicing & E-Reporting developments in the news in week 46 & 47/2023
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 European Union – ViDA: The EU Parliament voted...
9 months ago
Selection criteria for an e-Invoicing solution
Only 20% of businesses use automated processes for invoice payments due to complicated selection criteria for e-Invoicing solutions. An integrated system for automated dispatch and receipt of e-Invoices can increase...
9 months ago
Germany’s Bundestag passes extended transition to e-invoicing, allowing paper invoices until 2026
The Bundestag passed the Growth Opportunities Act introducing mandatory e-invoicing for domestic B2B transactions in Germany. The transition period for e-invoicing has been extended by one year, allowing paper invoices...
9 months ago
EU Lawmakers Call for One-Year Pause on VAT Reform to Allow Businesses to Prepare
EU lawmakers seek a one-year delay to most elements of the VAT in the digital age (VIDA) package The VIDA package aims to improve tax authorities’ use of technology and modernize VAT rules MEPs want businesses to...
9 months ago
Understanding E-Invoicing in Poland: The KSeF System and Compliance Requirements
Poland has introduced the National e-Invoicing System (KSeF) as a voluntary solution for e-invoicing. KSeF will become mandatory by July 2024, with a deadline of January 2025 for certain taxpayers. The mandate will...
9 months ago
Expansion of Electronic Invoicing Regime in KSA to Include More Taxpayers from June 2024
Saudi Arabia expanding electronic invoicing regime Ninth phase to include more taxpayers from June 1, 2024 Obligations apply to taxpayers with taxable supplies of SAR30 million or more in 2021 or 2022 Compliance...
9 months ago
Electronic Invoicing in Romania: A Two-Phase Approach for Business Transactions Explained
Romania has adopted new legislation for electronic invoicing The legislation covers the mandatory use of electronic invoices for B2B transactions Electronic invoices will be generated and transmitted through a...
9 months ago
Senate proposes updated timelines for the French CTC mandate
The French Senate has proposed an amendment to the 2024 Finance Bill, suggesting new timelines for the French e-invoicing and e-reporting mandate. The amendment proposes that the first phase of the mandate should begin...
9 months ago
RTC Webinar – Embracing Poland’s e-Invoicing Revolution: Preparing for July 2024 (Nov 28)
Register HERE Date & Time: Nov 28, 2PM CET Description As the landscape of business transactions evolves, Poland stands on the brink of a significant shift: the introduction of mandatory e-invoicing for B2B...
9 months ago
Fonoa Webinar – Recorded session & slide deck: Global E-invoicing Success: Practical In-House Strategies
Sources Slide deck Recorded session Are you affected by the many existing and upcoming e-invoicing rules in countries around the world? You’re not alone. Many in-house tax teams are well informed on the tax technical...
9 months ago
Simplified regularisation in case of duplicated electronic invoices
The Italian tax authorities have provided clarification on correcting unconscious duplication of electronic invoices. The case in question involved an Italian company sending electronic invoices to a client in the...
9 months ago
GENA(EESPA) Urges EU Leaders to Address Challenges in Digital Reporting Requirements
GENA(EESPA) supports the aim of harmonized e-Invoicing and Digital Reporting Requirements (DRR) as part of the VAT in the Digital Age (ViDA) proposals. They advocate for the use of the ‘5-corner’ model for...
9 months ago
Digital VAT Reporting Consultation in Ireland: Revenue Seeking Inspiration from Global Business Experiences
Irish Revenue has opened a public consultation on modernizing Ireland’s domestic reporting systems. The consultation seeks businesses’ experiences and challenges with existing e-invoicing and digital...
9 months ago
E-invoicing Trends in the Middle East
Saudi Arabia is leading the way in e-invoicing in the Middle East, with B2B invoices requiring clearance from the tax authority in the second phase of its mandate. Israel is not adopting a mandatory e-invoicing regime...
9 months ago
KPMG Week in Tax: 20 – 24 November 2023
Africa Ghana: Tax measures in the 2024 budget include proposals concerning corporate income tax, gross gaming revenue taxation, value added tax (VAT), and electronic invoicing (e-invoicing). Customs proposals are also...
9 months ago
The DIAN has Published a New Resolution Project to Fully Regulate the Electronic Invoicing System
On November 1, 2023, the DIAN published Resolution No. 000165, which formalizes the adoption of version 1.9 of the technical annex of the electronic sales invoice. In addition, the technical annex 1.0 corresponding to...
9 months ago
European Parliament wants One-Year Postponement of ViDA Proposals
The European Parliament proposes to implement the measures set out in the proposal for a directive on VAT in the Digital Age (VAT) ViDA) by one year. This gives companies time to prepare properly. It also proposes some...
9 months ago
