- South Africa plans to mandate electronic invoicing by 2028 to modernize tax compliance and reduce VAT fraud
- VAT fraud costs the country up to ZAR 50 billion annually
- The South African Revenue Service is considering a Peppol-based 5-corner model for real-time transaction reporting and pre-filled VAT returns
- A second public consultation on technical and legal frameworks is planned for late 2025
- Stakeholders involved will include businesses, software providers, and accounting professionals
- The move aligns with global trends as countries like France, Belgium, and Italy have adopted or are planning similar systems
Source: fiscal-requirements.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
