Israel’s B2B e-invoicing implementation has been postponed to May 5, 2024, due to the ongoing war, allowing businesses more time to prepare. The system will issue an Allocation Number for VAT invoices, serving as a verification tool to combat fraudulent activity. A one-year pilot will test the requirement for obtaining an Allocation Number, and the phased rollout will be revised. The delay aims to ensure a successful and secure implementation, leading to increased tax revenue and a better economic landscape. Businesses are advised to stay updated on the revised timeline for smooth integration.
Source VATit
Click on the logo to visit the website
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
Latest Posts in "Israel"
- Court Rules Bank-Owned Insurance Agency Must Be Classified as Financial Institution for VAT Purposes
- Israel Raises VAT Exemption on Personal Imports to $130, Effective Midnight
- Smotrich Vows Not to Surrender to Left After Coalition Blocks VAT Exemption Order
- Knesset Rejects Plan to Expand VAT Exemption on Imported Goods
- Cabinet Backs Smotrich’s $150 VAT Exemption Before Knesset Vote to Overturn Policy
