- South Africa’s National Treasury and SARS published a draft bill proposing amendments to the Value-Added Tax Act
- The draft introduces definitions for electronic invoicing, electronic reporting, and an interoperability framework
- E-Invoice is defined as a tax invoice in a structured electronic format for automatic processing
- E-Reporting involves electronically submitting tax data from e-invoices, e-debit notes, and e-credit notes
- Interoperability Framework involves a network for decentralized exchange of electronic documents
- The draft sets the stage for future e-invoicing and e-reporting obligations
- Businesses may expect future regulations detailing e-invoicing frameworks and technical requirements
- New compliance obligations for electronic document exchange and reporting are anticipated
- Implementation timelines and requirements to connect to approved service providers may be announced
Source: sovos.com
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South Africa moves closer to Real-Time VAT Reporting
- Introduction of the TALAB: The 2025 Draft Tax Administration Laws Amendment Bill (TALAB), released by South Africa’s National Treasury and SARS on August 16, 2025, aims to provide the legislative framework for real-time VAT reporting and digital tax administration, with public comments open until September 12, 2025.
- Support for VAT Modernisation Project: The bill supports SARS’s VAT Modernisation Project, which seeks to transform the VAT system in South Africa through digital innovation, enhancing compliance and efficiency in tax processes.
- Key Objectives of the Project: Central to the initiative is the implementation of real-time data transmission from vendors to SARS, aimed at reducing the VAT gap (currently estimated at R800 billion annually) and streamlining administration for both taxpayers and the revenue service through automation and integration.
Source Pagero
- See also
- 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
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