We mentioned that the APAC region started e-Invoicing to prevent tax evasion and tax non-compliance. It is worth noting that these models, which are already being implemented by some countries in the region, aim to make both e-Invoicing and CTC models mandatory in the future.
In the first part, we have detailed the e-Invoice regulations of Australia, New Zealand, Vietnam, and the Philippines, you can read it by clicking here.
Thailand
E-Invoicing called E-tax invoicing in Thailand is not mandatory. Taxpayers who use e-Invoicing must report to Thai tax authorities.
Singapore
IMDA, the tax authority in Singapore, reached a significant milestone in May 2018 by becoming the first PEPPOL authority outside the EU.
Malaysia
Since 2015, the use of e-Invoicing has been voluntary in Malaysia. To receive electronic invoices, a signed agreement is required between the buyer and the seller.
Indonesia
E-Faktur Pajak is the name of e-Invoicing in Indonesia. To prevent tax fraud and improve trade, the Directorate General of Taxation (DGT) has introduced the e-Faktur obligation.
South Korea
In 2009, South Korea’s responsible authority, the National Tax Services (NTS) introduced their electronic invoicing system called the South Korea e-Tax Invoice.
Source: SNI
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- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
