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
- Estonia: Mandatory B2B E-invoicing Upon Buyer’s Request Approved
- Mandatory B2B E-Invoicing: From July 1, 2025, the Estonian Parliament’s amendments to the Accounting Act will mandate B2B e-invoicing upon the buyer’s request, delayed by six months from the initial proposal.
- Commercial Register Requirement: Entities listed in the Commercial Register as e-invoice recipients, across both private and public sectors, can request e-invoices for their purchases, with the Register containing relevant e-invoice handler data and reception channel information.
- E-Invoice Standards: By default, the European e-invoice standard (EU EN16931) will be used if requested by the buyer, although parties can agree to use a different e-invoice standard.
- Latvia’s issued draft law for E-Invoicing as of Jan 1, 2025
- Mandatory e-Invoicing Introduction: Latvia mandates e-Invoicing starting January 2025 for public sector transactions, extending to all businesses by January 2026.
- Regulatory Amendments: The Latvian Ministry of Finance amended the Accounting Law to require e-Invoices, enhancing transparency and compliance with EU standards.
- Implementation Phases: Phase one focuses on government-related transactions starting January 2025, and phase two extends to business-to-business (B2B) transactions by January 2026.
- Compliance and Challenges: Businesses must integrate compatible software, train staff, and update systems to meet the new e-Invoicing requirements.
- Technical Infrastructure: Latvia will use the Peppol e-delivery network for secure and standardized e-Invoice transmission, supporting seamless cross-border transactions within the EU.
- UK Launches Consultation on E-Invoicing
- The UK government is planning to introduce e-invoicing as part of efforts to enhance business efficiency and modernize the tax system. Chancellor Rachel Reeves has announced that HMRC will launch a consultation on e-invoicing, targeting businesses and government departments.
- The exact scope and details of the initiative are yet to be determined. However, the primary goals include streamlining administrative processes, improving cash flow, and reducing errors in tax returns through the automation of invoicing systems.
- The consultation will involve gathering feedback from UK businesses to better understand their requirements and how HMRC can support the adoption of e-invoicing across various sectors. The aim is to encourage investment in this technology and promote wider usage, simplifying tax processes for businesses and government bodies.
- Saudi Arabia: E-invoicing requirement extended to 16th group of taxpayers from April 1, 2025
- The Zakat, Tax and Customs Authority (ZATCA) has announced the criteria for the 16th group of taxpayers required to comply with the second phase of the e-invoicing system implementation in Saudi Arabia.
- The 16th group includes taxpayers with VAT-liable revenues exceeding SAR 3 million in 2022 or 2023. The integration phase will begin on April 1, 2025, and taxpayers will need to integrate their e-invoicing solutions with the FATOORA Platform.
- ZATCA has provided details on the specific format and additional fields required for e-invoices in this phase. Taxpayers will receive a six-month notice before their compliance date, and they must adhere to the storage requirements, including the use of QR codes. Non-compliance may result in penalties, so ZATCA urges taxpayers to prepare and seek guidance if needed.
Belgium
- Structured electronic invoices between companies mandatory from 2026
- Submit your E-Invoicing software application
- What does a Peppol e-invoice look like?
Colombia
- August 2024 Legal Update: Colombian Authorities’ Key Legal Sources and Clarifications for Businesses.
- How electronic invoicing works in Colombia
Costa Rica
Democratic Republic of Congo
- Democratic Republic of Congo: First Phase of E-invoicing Launched
- The pilot phase of the e-invoicing and fiscalization device mandate has begun in DRC
Estonia
Finland
Germany
Ghana
Guatemala
India
Jordan
Latvia
- Latvia’s Draft Law for e-Invoicing
- Latvia’s Shift to Mandatory e-Invoicing: A Comprehensive Guide to the Transition Timeline and Its Implications
- Latvia’s Mandatory e-Invoicing: Transition Timeline, Implications, and Compliance Guide
Malawi
Nigeria
- FIRS to Launch e-Invoicing Platform for Improved Tax Administration in Nigeria
- Nigeria: Plans to Implement Mandatory E-invoicing
- Nigeria’s Federal Inland Revenue Service Plans to Introduce e-Invoicing Platform
- Nigeria’s New E-Invoicing System: Enhancing Tax Compliance and Transparency for Sustainable Growth
Panama
Poland
Romania
- New SAF-T Reporting Obligations for Non-Resident VAT Taxpayers in Romania: What You Need to Know
- Romania VAT: Nonresident Taxpayers Must Submit SAF-T Reports by January 2025
Saudi Arabia
Slovenia
United Kingdom
- UK Launches Consultation on E-Invoicing
- “Chancellor Unveils New HMRC Tax Measures – E-Invoicing consultation
- UK Government to Consult on Expanding E-Invoicing Requirements for Business Transactions
- United Kingdom: the Road to e-Invoicing
- How Does E-Invoicing Work in the UK?
- UK government unveils plans to introduce countrywide e-invoicing
- Government Announces E-invoicing Public Consultation
- UK to launch a consultation on e-invoicing
- UK Government Unveils E-Invoicing Reform to Boost Business Efficiency
World
- The Future of Tax Compliance: Continuous Transaction Controls (CTC) Explained
- 5 Essential Elements for Effective Country-Level Implementation for Electronic Invoicing
- E-Invoicing & E-Reporting developments in the news in week 38/2024
THE CLASSICS
- Timeline of the E-Invoicing mandates per country
- Website tax authorities on E-Invoicing/Real Time Reporting
- Worldwide Upcoming E-Invoicing mandates, implementations and changes – Chronological
- European Commission: eInvoicing Country Factsheets for each Member State & other countries
- Timeline of B2B E-Invoicing & E-Reporting mandates in the European Union
- EU e-invoicing and e-reporting overview
- Collection of E-Invoicing Guides – Worldwide
See also
- E-Invoicing & E-Reporting developments in the news in week 38/2024
- E-Invoicing & E-Reporting developments in the news in week 37/2024
- E-Invoicing & E-Reporting developments in the news in week 36/2024
- E-Invoicing & E-Reporting developments in the news in week 35/2024
- Worldwide Upcoming E-Invoicing mandates, implementations and changes – Chronological
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
- Join the LinkedIn Group on ”VAT in the Digital Age” (VIDA), click HERE
