The sixth ministerial meeting of the Trade and Technology Council (“TTC”) was held in Leuven, Belgium, on 4 and 5 April 2024. It was co-chaired by European Commission Executive Vice Presidents Margrethe...
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Sovos Webinar – VAT Snapshot: Navigating the Latest Global E-invoicing Requirements (May 2)
Register HERE Thursday, May 02, 2024 2:00 PM British Summer Time 45 minutes Keeping up with e-invoicing requirements has never been a bigger task, especially if you operate internationally. Multinational organisations...
Current status of E-Invoicing in Africa
Implemented Angola Angola is the only country outside Europe to have adopted the SAF-T requirements for electronic data transmission relating to VAT reporting and accounting elements. Since 2019, the Adminitraçao Geral...
Electronic Tax Invoice in Kenya
Updated on: September 14, 2023 What is an electronic tax invoice? What is the new Tax Invoice Management System? What is the due date for implementing e-invoicing in Kenya? Business to whom electronic tax invoice will...
Not every country chooses for Peppol
FDmagazine recently organized a webinar on e-invoicing with Dynatos and PwC. Participants expressed concerns about the interoperability of Peppol with other countries’ systems. The Belgian government has mandated...
ViDA: Everything you should know about VAT in the Digital Age
The European Commission introduced the VAT in the Digital Age (ViDA) initiative in December 2022 to modernize the VAT system and address the significant VAT revenue loss in EU member states. ViDA aims to adapt the VAT...
E-Invoicing & E-Reporting developments in the news in week 18/2024
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 takes further steps on introducing countrywide...
Migration to SAP S/4 Hana – 5 key considerations
In 2025, SAP will stop supporting older systems, prompting supply chain organizations using SAP to migrate to the new S/4HANA system. This transition is not simple and offers an opportunity to update other business...
Saudi Arabia expands e-invoicing to new taxpayer group in Phase 2 announcement
Saudi Arabian Tax and Customs Authority announced the eleventh wave of Phase 2 of e-invoicing The eleventh wave covers taxpayers with at least SAR 15 million revenue subject to VAT for 2022 or 2023 Taxpayers in this...
Implementation of Electronic Invoice version 1.9
Resolution No. 000165 of November 1, 2023, regulates the implementation of Electronic Invoice version 1.9 Changes in the electronic billing system must be implemented by May 1, 2024 Documents must be generated and sent...
Estonia’s E-Invoicing Expansion: New Rules for Standardization and Simplification by 2025
Estonia is expanding the use of e-invoices by 2025 Companies registered as e-invoice receivers can demand electronic invoices from suppliers The new amendment aims to standardize and simplify e-invoicing requirements...
Poland Delays Mandatory B2B E-Invoicing to February 2026: Implications for Tax and Audit Professionals
Mandatory B2B e-invoicing in Poland delayed to February 2026 National e-Invoicing System (KSeF) phased approach for implementation Original plan for mandatory e-invoicing in July 2024 changed due to critical flaws in...
Estonia’s New Law: Buyers Can Request E-Invoices from 2025 Onwards
Estonian Ministry of Finance proposing amendments to Accounting Act Amendments to become effective on January 1, 2025 pending approval by Parliament Aim to encourage e-invoicing usage in Estonia Adoption of uniform...
New start of the Invoice revolution, what about the costs that entrepreneurs have already incurred?
The audit of the mandatory National e-Invoicing System (KSeF) revealed significant flaws, leading the Ministry of Finance to start its work almost from scratch. The mandatory implementation of KSeF will take place in...
Poland Releases E-Invoice Update (KSeF)
The Polish Ministry of Finance has confirmed a 2026 launch of the mandatory KSeF e-invoicing regime in the country.
Source: fiscalsolutions.co.uk
The two-stage implementation of the KSeF comes as a surprise
The obligation to issue invoices through the National e-Invoicing System (KSeF) will be implemented on 1 February 2026 for companies with a turnover exceeding PLN 200 million in the previous year, and on 1 April 2026...
ZATCA’s 11th Wave of Taxpayers
The Zakat, Tax, and Customs Authority have outlined criteria for selecting businesses in the eleventh group to implement the “linking and integration” phase of electronic invoicing. This group comprises establishments...
Estonia’s Financial Revolution: Accounting Act Amendments Passed
The Estonian Ministry of Finance has approved amendments to the Accounting Act, focusing on a more efficient, digital-first economy. The key updates include standardized e-invoicing practices, enhanced flexibility for...
Estonia takes further steps on introducing countrywide e-invoicing in January 2025
The Estonian Government has approved the use of e-invoices for business transactions, with business entities registered as e-invoice receivers being able to require suppliers to issue structured e-invoices starting from...
Ministry of Finance Extends VAT E-Invoicing Implementation Deadlines
The Polish Ministry of Finance made a significant announcement regarding the mandatory national VAT e-invoicing system (KSeF). The extension entails a shift in deadlines: from Jan. 1, 2025, to Feb. 1, 2026, for...
Estonia’s Proposed Legislation: Mandatory E-Invoice Issuance by Sellers Upon Client Request
Estonian government approved draft amendment to Accounting Act Aim is to standardize and simplify electronic invoicing requirements Sellers will be obligated to provide e-invoice if buyer requests it starting January 1...
Romania Extends Deadline for E-Invoicing Sanctions Until 31 May 2024
Romania has postponed e-invoicing sanctions until 31 May 2024 The “no sanction period” for failing to issue electronic invoices has been extended from 31 March 2024 VAT-registered businesses must send sales...
Ecofin agenda 13/14 May 2024 – Dutch position on “VAT in the digital age” (VIDA)
The Belgian Presidency has made VIDA a priority and is aiming for an agreement on the entire proposal. The Netherlands supports the Commission’s initiative to modernize the VAT system and bring it in line with the...
ZATCA Criteria for Wave 10 and 11 Taxpayers in KSA E-Invoicing Integration Phase
ZATCA sets criteria for selecting taxpayers for integration phase of e-invoicing in KSA Phase targets taxpayers with VAT-liable revenues exceeding SAR 25 million in 2022 or 2023 Selected taxpayers to integrate e...
ZATCA further extends the scope of taxpayers required to comply with Phase 2
ZATCA has set the threshold for the eleventh wave of taxpayers required to comply with the upcoming e-invoicing obligation in KSA by 1 November 2024. On 26 April 2024, ZATCA announced the criteria for the eleventh wave...
How interoperability makes business easier
Interoperability is crucial for businesses to benefit from e-invoicing. It refers to the ability of different systems to connect and communicate seamlessly. This allows e-invoicing service providers to exchange...
Estonia 2025 customer e-invoicing option
2025 Accounting Act e-invoicing legislation goes to Parliament Source vatcalc See also Worldwide Upcoming E-Invoicing mandates, implementations and changes – Chronological Join the Linkedin Group on Global E-Invoicing/E...
VAT in the Digital Age (ViDA) on the Agenda of the Ecofin meeting on May 14, 2024
Extract Agenda VAT in the digital age” package a) Directive on VAT rules adapted to the digital age adapted to the digital age (Legal basis: Article 113 TFEU) b) Regulation as regards the VAT administrative...
