VATupdate

E-Invoicing changes per July 1, 2022 … are you ready?

Per July 1, 2022

  • Australia
    • Australian Federal Government agencies are going to be able to receive Peppol e-Invoices by July 2022. Businesses supplying Federal Government agencies (B2G transactions) are open to choose to send invoices by their preferred channel i.e. email or Peppol e-Invoice.
  • Guatemala
    • Mandatory Online Electronic Invoices for remaining VAT registered business from 1 July 2022 via FEL
  • Italy/San Marino
    • Mandatory cross-border invoice reporting through the SDI
    • New taxpayers in scope for the e-invoicing mandate
    • Mandatory e-invoicing between Italy and San Marino
  • Phillippines
    • Large-scale taxpayers, e-commerce and export firms need to start shifting to the digital issuance of invoices and receipts
  • Romania
    • Obligation to issue electronic invoice via the RO e-Factura system in B2G relationships and for B2B transactions of products with high fiscal risks
    • Implementation of the E-Transport platform for products with high fiscal risks
  • Serbia
    • Requirement to receive and keep e-invoices issued by either a public sector entity (G2B) or a private sector entity (B2B)
    • B2G – obligation of a public sector entity to issue an electronic invoice to a private sector entity
  • South Korea
    • From 1 July 2022, the threshold will be lowered to KRW 200,000,000 (around $160,000) and individual entrepreneurs will need to begin issuing e-invoices. If paper invoices are issued, there may be fines
  • Vietnam
    • Phase 2: E-Invoicing will be extended to another 57 provinces and cities. Implementation for both the public and private sectors (which includes enterprises, economic organizations, business households, and individuals)

Per July 30, 2022

  • Panama
    • All businesses are obliged to send e-invoices to the public entities (B2G) under SFEP

 

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