- Introduction of Mandatory e-Invoicing: The House of Peoples has approved the Fiscalization Bill, which mandates electronic invoicing and fiscalization for all business transactions (B2B, B2G, and B2C). This legislation aims to enhance transparency, combat tax fraud, and modernize the tax system through real-time reporting and centralized transaction oversight.
- Centralized Verification and Compliance Mechanisms: Under the new system, all invoices will be declared and will include a unique QR code for instant verification of fiscalization status. The bill outlines a penalty regime for non-compliance, with potential fines and trade restrictions for businesses that fail to issue electronic invoices according to the established regulations.
- Technological Infrastructure for Implementation: The legislation establishes the Central Platform for Fiscalisation (CPF) for B2B and B2G transactions, while B2C transactions will utilize Approved Electronic Fiscal Systems (EFS). This infrastructure will ensure secure issuance, receipt, and archiving of electronic invoices, ultimately aiming to improve tax collection efficiency and reduce administrative burdens for businesses and tax authorities alike.
Source Edicom
Bosnia and Herzegovina: E-Invoicing & E-Reporting – VATupdate
- 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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