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Worldwide updates on E-Invoicing/Real Time Reporting/SAF-T in January 2025

For the Podcast version on SPOTIFY, click HERE


The Overviews

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Highlights

  • Worldwide Upcoming E-Invoicing mandates, implementations and changes – Chronological
  • Bahrain’s Electronic Invoicing Initiative
    • Electronic Invoicing Initiative: Bahrain is exploring the implementation of an electronic invoicing system to enhance VAT compliance and revenue collection, following successful models in Egypt and Saudi Arabia.
    • Background on VAT Evolution: Initially adopting a 5% VAT in January 2019, Bahrain increased the rate to 10% in January 2022 to address economic challenges from the COVID-19 pandemic, making the introduction of electronic invoicing a vital strategy for improving tax transparency and reducing fraud.
    • Goals and Benefits: The adoption of electronic invoicing aims to simplify administrative processes for businesses, optimize economic policy through better data access, and support Bahrain’s fiscal balance program, ultimately enhancing economic transparency and tax compliance.
  • Bulgaria to Introduce Mandatory SAF-T Reporting for Tax by January 2026 with Grace Period
    • Mandatory SAF-T Reporting: Bulgaria plans to implement mandatory SAF-T reporting starting January 2026, beginning with large enterprises and gradually extending to medium and small enterprises, with micro-enterprises included by January 2030.
    • Filing Requirements: Taxpayers will be required to submit SAF-T files monthly by the 14th of the month following the reporting period, while information on fixed assets must be submitted annually.
    • Grace Period for Compliance: A six-month grace period will be provided for the first SAF-T submission, during which taxpayers will not face penalties for non-compliance.
  • Croatia to Introduce Mandatory Electronic Invoicing and Financial Reporting Tools by 2026
    • Introduction of eInvoices: The Croatian government will launch the “Fiscalization 2.0” tax package as of Jan 1, 2026, implementing eInvoices as a new VAT reporting system to fiscalize transactions between entrepreneurs and between entrepreneurs and the state, enhancing the digitization of the tax system.
    • Administrative Relief for Taxpayers: Finance Minister Marko Primorac emphasized that Fiscalization 2.0 aims to simplify tax collection and reduce administrative burdens for taxpayers by eliminating numerous tax forms and introducing a free application, “FiskApplication,” for managing fiscalized data.
    • Reengineering Financial Processes: The initiative includes plans to reengineer the Register of Annual Financial Statements and allows local self-government units to choose whether to collect real estate taxes independently or transfer this authority to the tax administration, promoting efficiency and fairness in tax assessment.
  • Jordan Prepares Phase 2 of the JoFotara Electronic Invoicing System
    • Implementation Timeline and Requirements: The second phase of the JoFotara electronic invoicing system will commence on April 1, 2025, requiring all goods and services to have original, tax-compliant invoices for tax deduction eligibility, with a registration deadline for businesses set for May 2024.
    • Objectives of the JoFotara System: The initiative aims to enhance transparency and data collection for tax authorities, facilitating electronic invoice submissions through a national platform, which will include a QR code verification process for declared invoices.
    • Challenges and Recommendations: Jordan currently lacks a harmonized electronic invoicing system, complicating accountability and data interchange. The government seeks to address fiscal fraud and improve user accessibility while enhancing security for electronic transactions, with further implementation details expected to be published soon.
  • Latvia Mandates Structured E-Invoices for B2G (2025) and B2B (2026) transactions
    • E-Invoicing Requirement for Government Transactions: Beginning January 1, 2025, businesses in Latvia must issue structured e-invoices for invoices directed to Latvian budgetary institutions in the B2G and G2G sectors, adhering to specific technical standards.
    • Expansion to B2B Sector: The second phase of e-invoicing implementation will commence on January 1, 2026, extending the requirement to the business-to-business (B2B) sector.
    • Preparation of Technical Framework: The Latvian State Revenue Service is tasked with developing the technical framework and rules for e-invoice exchange and reporting by July 1, 2025.
  • Norway’s Mandatory B2B e-Invoicing: Enhancing Financial Processes and Tax Compliance
    • Mandatory e-Invoicing Initiative: Norway is exploring the implementation of mandatory electronic invoicing (e-Invoicing) to improve its financial and tax systems, streamline invoicing processes, enhance tax compliance, and reduce administrative burdens for businesses.
    • Current Landscape and PEPPOL Framework: Since 2012, e-Invoicing has been mandatory for suppliers to public administrations in Norway, utilizing the PEPPOL framework for standardized electronic document exchange. This requirement is already in place for Business-to-Government (B2G) transactions.
    • Future Expansion Plans: Norway is considering expanding mandatory e-Invoicing to a wider range of transactions, aligning with global trends to enhance tax compliance and combat fraud. Businesses in Norway should prepare for these changes and stay informed about the evolving invoicing landscape.
  • Greenland to Implement E-Invoicing for Public Sector Starting 2025
    • The Government of Greenland has announced that mandatory e-invoicing for all public sector transactions will take effect on March 1, 2025, requiring both legal and natural persons to submit digital invoices when providing goods or services to public authorities.
    • Digital invoices must be issued, sent, and received in a structured electronic format that allows for automatic processing; public authorities must be registered as recipients in the joint public NemHandelsRegister managed by the Danish Business Authority.
    • While the regulation will exempt businesses and individuals below a yet-to-be-defined annual turnover threshold, invoices not compatible with digital processing will be rejected, marking a significant advancement in Greenland’s effort to digitalize public sector transactions.
  • Estonia Sets 2027 Launch for Mandatory B2B E-Invoicing to Curb VAT Fraud
    • Estonian tax authorities updated the mandatory e-invoicing rollout for December 2024
    • New launch date set for 2027 for domestic B2B transactions
    • New regime applies only to resident businesses in Estonia
    • Businesses must declare B2B sales via a new e-invoicing platform
    • Tax authority to check and approve invoices before sending to customers
    • New system aims to reduce invoice errors and prevent VAT fraud
  • Senegal to impose mandatory electronic invoicing
    • Mandatory E-Invoicing Legislation: Senegal’s Finance Bill of 2025 will make electronic invoicing mandatory for all taxable persons, ending the previous voluntary adoption and requiring invoices to be sent in a structured electronic format through a centralized platform.
    • Sanctions for Non-Compliance: The Directorate General of Taxes and Domains (DGID) has introduced sanctions for non-compliance, including fines of up to 25% of the VAT amount, capped at XOF 5 million (approximately EUR 7700) per invoice.
    • Implementation Timeline: While the official timeline for mandatory e-invoicing is yet to be announced, the Finance Bill marks a significant step towards the digitalization of invoicing and tax collection in Senegal, following the example of neighboring Benin.
  • Venezuela: SENIAT Introduces New Digital Invoicing Guidelines for Businesses
    • New Digital Invoicing Guidelines: SENIAT introduced new rules under Administrative Ruling SENIAT/2024/000102 for digital invoicing, covering invoices, credit notes, debit notes, and delivery orders.
    • Applicability and Requirements: The guidelines apply to public and private entities authorized by SENIAT, including those not needing fiscal machines. Entities must seek approval from SENIAT and comply with specific formalities like unique serial numbers for invoices.
    • Contingency Plans and Compliance: Businesses must have contingency plans for internet disruptions and comply with tax obligations. SENIAT can revoke authorization for violations such as issuing false invoices.
  • Fiscalization/E-Invoicing Law (draft) in Federation of Bosnia and Herzegovina
    • Objective of the Draft Law: The draft law on fiscalization in the Federation of Bosnia and Herzegovina aims to modernize the fiscal system by mandating the issuance of electronic receipts and the use of electronic fiscal systems (EFS) to enhance transaction recording, supervision, and compliance, in alignment with EU Directive 2014/55/EC.
    • Key Provisions: The law outlines essential components such as the issuance of e-invoices and fiscal receipts, the functionalities of the EFS, and the establishment of a Central Platform for Fiscalization (CPF) for real-time monitoring. It also includes oversight mechanisms and a penalty system for non-compliance.
    • Expected Outcomes: By implementing this law, the Federation aims to improve tax collection efficiency, combat tax evasion, reduce informal economic activities, and promote transparency in business operations through the adoption of advanced technological solutions.
  • Cambodia Launches Voluntary B2G e-Invoicing, Pioneering Digital Tax Transformation
    • Launch of e-Invoicing System: On December 12, 2024, Cambodia’s General Department of Digital Economy (GDDE) initiated the voluntary registration phase of its e-Invoicing system for business-to-government (B2G) transactions, marking a significant step towards digitizing tax compliance and enhancing operational transparency across all sectors.
    • Key Features and Benefits: The e-Invoicing platform offers real-time VAT data validation, cost reductions in invoice processing, seamless integration with ERP systems, and improved audit readiness, benefiting both businesses and tax authorities by simplifying compliance and reducing tax evasion.
    • Phased Implementation and Future Expansion: The system begins with voluntary B2G participation, with plans to transition to mandatory business-to-business (B2B) compliance in 2025 and eventually include business-to-consumer (B2C) transactions, positioning the e-Invoicing initiative as a foundational element of Cambodia’s modern tax infrastructure and digital economy.
  • European Parliament issues draft report on the Council’s draft directive amending ViDA
    • Approval of Council Draft: The European Parliament approves the Council’s draft directive amending VAT rules for the digital age.
    • Notification Requirement: The Parliament requests that the Council notify it if there are any intentions to deviate from the approved text.
    • Re-consultation Request: The Parliament asks the Council to consult it again if any substantial amendments to the draft are proposed.
    • Procedural References: The resolution references relevant articles of the Treaty on the Functioning of the European Union and the Rules of Procedure.
    • Communication Directive: The Parliament instructs its President to forward its position to the Council, the Commission, and national parliaments.
  • Italy Delays Electronic Invoicing for Some Healthcare Providers
    • Italy delays electronic invoicing requirement for some healthcare providers
    • The new rule affects a specific group within the healthcare sector
    • Implementation date for electronic invoicing has been pushed back to allow more preparation time
  • ZATCA Sets Criteria for 19th E-Invoicing Wave in Saudi Arabia
    • Saudi Arabia’s ZATCA sets criteria for 19th wave of e-invoicing integration
    • Eligibility for Group 19 taxpayers based on VAT revenues exceeding SAR 1.75 million in 2022 or 2023
    • Notification for integration with Fatoora Platform to be completed by 30 September 2025
  • Bosnia and Herzegovina: Mandatory E-invoice Law to Combat Tax Fraud and Improve Transparency
    • Introduction of E-Invoicing Law: Bosnia and Herzegovina has released a draft law to mandate B2B, B2G, and B2C e-invoicing and real-time reporting to combat tax fraud, covering various transactions including sales of goods, services, and property transfers.
    • Centralized Reporting Platform: Taxpayers in B2B and B2G transactions will be required to use the Central Platform for Fiscalisation (CPF) for issuing e-invoices and real-time data reporting, while B2C transactions will utilize approved electronic fiscal systems for invoice management.
    • Compliance and Penalties: The draft law specifies penalties for non-compliance, with further details on implementation timelines and relevant bylaws to be provided in the future.
  • Greece Granted EU Approval for Mandatory Electronic Invoicing Implementation by Jan. 15, 2025
    • Proposal Overview: Greece seeks authorization to implement mandatory electronic invoicing for B2B transactions to improve VAT collection and reduce tax evasion, deviating from certain EU VAT directives.
    • Implementation and Benefits: The electronic invoicing system aims to enhance data quality on the myDATA platform, enabling faster detection of VAT fraud, prefilled VAT returns, and lower administrative costs, with a proposed implementation period until June 30, 2026.
    • Alignment with EU Policies: The proposal is consistent with EU regulations and aligns with similar derogations granted to other Member States, laying the groundwork for future standardization of electronic invoicing across the EU.
  • Greece is likely to mandate e-invoicing for B2B transactions in 2025
    • The European Commission has proposed allowing Greece to mandate e-invoices for B2B transactions between taxable persons established in the country, following Greece’s request for a derogation from specific EU directives.
    • This measure will not affect non-Greek companies registered for VAT in Greece or the right of customers to receive paper invoices for intra-Community transactions.
    • If approved, the e-invoicing obligation could be implemented from July 1, 2025, to June 30, 2026, with e-invoice data being transmitted in real-time to Greece’s myDATA platform, adhering to the European standard for electronic invoicing.
  • Morocco Plans for Mandatory e-Invoicing by 2026
    • Mandatory E-Invoicing Initiative: Morocco plans to implement mandatory e-invoicing by 2026 as part of a broader tax reform led by the General Directorate of Taxes (DGI), aiming to enhance efficiency, transparency, and tax compliance.
    • Phased Rollout Schedule: The rollout will occur in stages, with initial proposals introduced by the end of 2024, system development expected to complete by October 2025, and a pilot phase starting in early 2026 to allow businesses to adapt.
    • System Approaches and Compatibility: The DGI is considering two models for the e-invoicing system—post-audit and continuous transaction control (CTC)—and will support international formats like UBL and CII, utilizing electronic signatures for security and compliance.
  • Slovakia Proposes Mandatory B2B E-Invoicing by 2027
    • Public Consultation for E-Invoicing: Slovakia has launched a public consultation to implement mandatory B2B e-invoicing, aiming to combat tax evasion and enhance tax compliance, with a proposed start date of January 1, 2027, for domestic transactions.
    • Requirements for E-Invoicing: The proposed system mandates that VAT taxpayers issue and receive invoices in a specific electronic format aligned with European standards, ensuring automatic processing to reduce errors and standardize invoicing.
    • Real-Time Reporting: E-invoice data must be reported to the Slovak financial administration in real time, which will streamline compliance and improve transparency in tax reporting.
    • Alignment with EU Directives: The initiative is in line with the VAT in the Digital Age (VIDA) initiative and Directive 2014/55/EU, facilitating seamless cross-border transaction reporting within the EU by 2030.
    • Implementation Timeline and Public Engagement: Key dates include changes to tax registration starting January 1, 2026, enforcement of mandatory e-invoicing by January 1, 2027, and expansion to cross-border transactions by July 1, 2030. The government encourages public feedback on the proposal by January 31, 2025, to ensure a comprehensive and effective implementation.

Argentina

Australia

Australia/ New Zealand

Bahrain

Belgium

Bosnia and Herzegovina

Brazil

Bulgaria

Cambodia

Chile

China

Colombia

Costa Rica

Croatia

Denmark

Dominican Republic

Egypt

Estonia

Europe

European Union

European Union/ Greece

Finland

France

Germany

Germany/ Webinars / Events

Greece

Guatemala

Hungary

India

Ireland

Italy

Japan

Jordan

Kazakhstan

Latvia

Liechtenstein

Lithuania

Malaysia

Mexico

Morocco

Netherlands

Norway

Pakistan

Paraguay

Philippines

Poland

Portugal

Romania

Saudi Arabia

Saudi Arabia/ Webinars / Events

Senegal

Serbia

Singapore

Slovakia

Slovenia

South Africa

Spain

Sweden

Taiwan

Turkey

Ukraine

United Arab Emirates

United Kingdom

United Kingdom/ Webinars / Events

United States

Uzbekistan

Venezuela

Vietnam

Webinars / Events

World


See also

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