The obligatory National e-Invoicing System will enter into force on 1 February 2026. This is assumed by the amendment to the VAT Act, adopted on Thursday by the Sejm. The Ministry of Finance announced earlier that there...
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Ecofin meeting on VAT in the Digital Age (ViDA): Changes to the EU VAT Directive, Implementing Regulation, ..
Ecofin will meet on May 14, 2024 to discuss VAT in the Digital Age: The Council will seek a political agreement on the value-added tax (VAT) in the digital age package. This package consists of three proposals to tackle...
D-Day for VAT in the Digital Age (ViDA) – Will EU businesses get some perspective on the spaghetti of E-Invoicing & e-Reporting regulations?
On May 14, 2024, the Ecofin meeting will discuss and eventually approve the Revised VAT in the Digital Age (ViDA) regulation. Sources Revised draft: data.consilium.europa.eu ViDA proposal dd. Dec 8, 2022 See also ViDA...
EU VAT Reforms: Marketplaces Exempt from Deemed Supplier Obligations in Digital Age
EU VAT in the Digital Age drops proposal to extend VAT deemed supplier obligations on facilitating marketplaces Marketplaces are no longer responsible for their EU-resident sellers’ B2C goods transactions The...
EU Finance Ministers to Discuss ViDA and FASTER Tax Agreements on 14 May
EU Finance Ministers meeting on 14 May in Brussels Aim to reach agreements on FASTER and ViDA tax files Agreement on FASTER likely, main issue is market capitalisation ratio Uncertainty on agreement for ViDA package...
List of Potential Partner Dematerialization Platform (PDP) Operators in France
Businesses in France transitioning to electronic invoicing can choose partner dematerialization platforms or the public invoicing portal French Ministry of Finance has published a list of companies applying for Partner...
Overview and Timetable of Proposed VAT Changes in the Digital Age: Compromise Proposal 2024
EU Commission published draft Directive for ‘VAT in the Digital Age’ initiative on 8 December 2022 Compromise proposal under current Belgian Council Presidency published on 8 May 2024 Timetable for changes...
Deputy Prime Minister and Finance Minister Ludmila Petkova to Attend ECOFIN Council Meeting in Brussels
Deputy Prime Minister and Minister of Finance Lyudmila Petkova will participate in the regular meeting of the Council of the European Union on Economic and Financial Affairs (ECOFIN) on May 14 and 15 in Brussels The...
On ECOFIN’s agenda: updated EU proposal for VAT reforms in the Digital Age
On May 8, 2024, the European Commission released a significant update of the VIDA package “VAT in the Digital Age”, reflecting ongoing adjustments and dialogue among EU member states since the initial...
New Regulatory Update: Kenya’s Electronic Tax Invoice Regulations 2024
Kenya has gazetted the Tax Procedures (Electronic Tax Invoice) Regulations, 2024, revoking the previous 2023 regulations. This aims to enhance VAT compliance and digital transaction tracking. All businesses in Kenya...
New SDK 1.0 Released by LHDNM
LHDNM in Malaysia has released significant updates to its SDK, including enhanced validations, documentation, signature updates, new additions, and visual and functional enhancements. These updates are designed to...
EU Tax and Customs Union DG’s 2024 Agenda: Prioritizing Tax Reforms and International Cooperation
EU’s Directorate-General for Taxation and Customs Union (DG TAXUD) has set out its management plan for 2024 Prioritizing work to support delivery of various tax reforms, including OECD’s two-pillar...
ViDA explained #1: Are Summary Invoices still allowed?
Summary As of July 1, 2027 Summary invoices are allowed for both supplies of goods or services for supplies where VAT becomes chargeable in the same calendar month For intra-EU acquisitions of goods (art. 138) and...
VAT In The Digital Age: Impact Of Revised Proposals On EU Businesses
The European Commission has released revised proposals for the ‘VAT in the Digital Age’ (ViDA) reform, which will be discussed by the Economic and Financial Affairs Council (ECOFIN) on May 14, 2024. If there...
E-Invoicing & E-Reporting developments in the news in week 19/2024 – It’s all about ViDA
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. EU Member States are working towards reaching an agreement on the...
Four Tips to Ensure Your EDI Integration Project is a Success
Integrating EDI capability in ERP systems is crucial for supply chain organizations, but ensuring the success of an EDI integration project is challenging. Many businesses struggle to select the right solution, often...
Updated ViDA Proposal by EU
The European Commission has proposed a draft directive (ViDA) for approval at the Ecofin meeting on May 14, 2024 The proposal includes measures for the digital economy and short-term rentals Challenges in applying VAT...
E-VAT Rollout Progressing as Planned, Expected to Boost Revenue Collection
Ghana Revenue Authority (GRA) says E-VAT rollout progressing as planned Successful pilot phase completed with 50 taxpayers During pilot phase, VAT revenue grew by over 58% Efficiency of electronic VAT invoicing...
Singapore 2025 E-Invoicing Mandate Timeline: IRAS Implements InvoiceNow for GST-Registered Businesses
IRAS announced phased implementation of e-invoicing via InvoiceNow Based on international Peppol standard for structured digital format GST-registered businesses required to transmit invoice data directly to IRAS...
Singapore and New Zealand Prime Ministers Sign eInvoicing Agreement for Business Collaboration
MoA on eInvoicing signed by Prime Ministers of Singapore and New Zealand Commitment to collaborate on promoting adoption of eInvoicing by businesses Aim to establish infrastructure and raise awareness for eInvoicing...
LHDN Launches New E-Invoice SDK for Malaysia’s E-Invoicing Mandate
LHDN in Malaysia has launched a new version of e-invoice software development kit (SDK) The SDK provides tools, libraries, and resources for integrating existing systems into the MyInvois system A FAQ is included in the...
Accounting Act in Estonia is in the Parliament
Estonia’s government has approved changes to e-invoicing regulations, allowing for mandatory e-invoicing starting in January 2025. Taxpayers registered as e-invoicing recipients in the Estonian e-business register...
B2B Electronic Invoicing in France
France is progressing with its new electronic taxation system for private companies, establishing the legal and technical framework for mandatory electronic invoicing between private companies (B2B) and e-Reporting. The...
Electronic Invoicing in the United States: Interoperable Exchange Network
After the sixth ministerial meeting of the Council for Trade and Technology, the US and the EU released a joint statement focusing on boosting the interoperability of electronic invoicing between their territories...
Innovate Tax unveils revolutionary tax data management suite TaxMaster™
Innovate Tax launches TaxMaster™, a unique master data cleansing service for enterprise IT and tax teams to drive global compliance in the era of tax digitalisation. TaxMaster™ incorporates a three-stage process to...
SAP DRC v third-party solutions vs in-house development: What should your business use for e-invoicing?
E-invoicing, also known as electronic invoicing, is the exchange of digital documents between suppliers and buyers in a structured data format. It enables automatic and electronic processing, leading to faster and more...
New draft of EU VAT reform (VAT in the Digital Age (ViDA))
The European Commission published an updated draft of the “Value Added Tax (VAT) in the Digital Age (ViDA)” package, which aims to amend EU VAT rules in three key areas. The proposed changes include...
ViDA – Changes to the EU VAT Directive 2006/112 – Old vs. New articles
Overview of the old vs. new articles of the EU VAT Directive 2006/112/EC that would be amended. File ViDA Old vs new articles See also E-Invoicing/Real Time Reporting – What can you find on VATupdate.com Worldwide...
