Mandatory tax ID and UIN validation for B2B sales in Egypt postponed to 1 December 2024 Two-step validation required for zero-rated transactions to strengthen VAT compliance and reduce fraud Real-time, automated...
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UAE e-Invoicing Programme: Transforming Tax Compliance in the Digital Era
UAE has amended its tax laws to pave the way for e-Invoicing The UAE Ministry of Finance has released the e-Invoicing Programme The aim is to achieve a digital and paperless economy, reduce tax gaps, and facilitate...
8 months ago
ECOFIN seeks political agreement on VAT legislation in the digital era – Announcements by AADE
The ECOFIN will seek a political agreement on the legislative package of measures for VAT in the digital era Minister of National Economy and Finance Kostis Hatzidakis will participate in Eurogroup and ECOFIN meetings...
8 months ago
FTA Releases Amended UAE VAT Law with E-Invoicing Implementation Updates
FTA published amendments to UAE VAT Law on 28 October 2024 Amendments are effective from 1 November 2024 Amendments relate to implementation of e-invoicing in UAE UAE committed to introducing first phase of e-invoicing...
8 months ago
ZATCA sets criteria for 17th wave e-invoicing integration for taxpayers with SAR 2.5M+ revenues.
ZATCA determines criteria for selecting taxpayers for 17th wave of e-invoicing integration Taxpayers with taxable revenues exceeding SAR 2.5 million during 2022 or 2023 will be covered under the 17th wave Taxpayers will...
8 months ago
Update on E-Invoice Regulations: Final BMF Letter on E-Invoicing Rules Released
BMF has updated and finalized its interpretation of the new E-Invoicing rules Changes include requirements for contracts to be included as invoices for continuous services For contracts entered into before 01.01.2025...
8 months ago
Upcoming E-Invoice Obligation for B2B Businesses
Starting from January 1, 2025, there will be a general obligation in Germany to issue electronic invoices (E-invoices) for services between domestic companies (B2B sales). There is a transition period in 2025 and 2026...
8 months ago
EU Council reviews compromises on ViDA VAT reforms for Estonia’s approval on passenger transport and accommodation.
EU member states are still trying to reach an agreement on the ViDA proposal for VAT reforms Estonia disagrees with the proposed responsibility of platform economy operators for VAT collection ViDA aims to modernize and...
8 months ago
EU Finance Ministers to Decide Fate of ViDA Package in Meeting on 5 November
EU Finance Ministers will meet on 5 November to discuss economic and financial matters They will focus on sealing the fate of the VAT in the digital age (ViDA) package The deemed supplier rule has been a point of...
8 months ago
Poland Advances e-Invoicing System with Key Amendments to KSeF Law
Phased Implementation and Extended Deadlines: Poland’s Ministry of Finance announced a phased rollout for mandatory e-Invoicing through the National e-Invoicing System (KSeF), starting February 1, 2026, for large...
8 months ago
UK Chancellor Announces Key Reforms in HMRC Strategy and New Tax Measures
New Leadership and Strategic Direction for HMRC: Chancellor appoints James Murray as Chair of the HMRC Board to advance strategic priorities, targeting the tax gap and enhancing service quality, driving initiatives for...
8 months ago
Council of the European Union to Convene on Economic and Financial Affairs: Provisional Agenda Overview
Modernizing VAT for the Digital Age: The ECOFIN meeting on November 5, 2024, will address strategies for updating VAT rules to align with the expanding digital market, including reviewing a directive on digital market...
8 months ago
UAE Phased e-Invoicing Implementation with Peppol by 2026
E-Invoicing Initiative Launch: The UAE government has launched an e-invoicing website through the Ministry of Finance portal, emphasizing the country’s commitment to mandatory e-invoicing starting in the second...
8 months ago
E-Invoicing in Costa Rica: Key Insights and Updates
Implementation and Evolution: Costa Rica’s e-invoicing system, launched by the General Directorate of Taxation (DGT) in 2017 and mandated for all taxpayers by 2018, aims to enhance tax compliance, optimize...
8 months ago
UK Government Announces Nationwide E-Invoicing Initiative
The UK government is rolling out a nationwide e-invoicing initiative as part of its Digital Transformation Roadmap, with full implementation expected by spring 2025. The initiative aims to simplify invoicing processes...
8 months ago
VAT in the Digital Age (VIDA) Package Agreement Set for 5 November 2024
EU member states are nearing an agreement on the VAT in the Digital Age (VIDA) package, with official approval expected on 5 November 2024 at the ECOFIN meeting, followed by a consultation with the European Parliament...
8 months ago
E-Invoicing & E-Reporting developments in the news in week 44/2024
Click HERE for the PODCAST version discussing ”E-Invoicing & E-Reporting developments in the news in week 44/2024” Follow the latest updates on E-Invoicing and Real Time Reporting on www.vatupdate...
8 months ago
EU’s New ViDA Proposal: Streamlining VAT Systems for ECOFIN Approval
The Council of the European Union has released a new proposal for tax reform called VAT in the Digital Age (ViDA) The proposal aims to modernize and streamline VAT systems across the EU, particularly in e-invoicing and...
8 months ago
ViDA Proposal: Streamlining VAT Systems in the Digital Age for ECOFIN Approval
The Council of the European Union has released a new proposal regarding the VAT in the Digital Age (ViDA) reform The proposal aims to modernize and streamline VAT systems across the EU, notably e-invoicing and...
8 months ago
Ecofin aims for political agreement on VAT in the digital age
Ecofin Council aims to reach a political agreement on the VAT in the Digital Age (ViDA) directive ViDA proposal includes digital reporting obligations, addressing challenges of the platform economy, and a single VAT...
8 months ago
UAE Updates Guidance on B2B and B2G E-Invoicing Launch Plan for July 2026 Introduction
UAE has updated guidance on the introduction of B2B and B2G e-invoicing in July 2026 Phased launch plan includes issuance of technical requirements in Q4 2024, draft legislation in Q2 2025, rollout strategy in Dec 2025...
8 months ago
Latvian Parliament Enacts Mandatory E-Invoicing Law for B2G and B2B Transactions by 2026
Latvian Parliament has introduced mandatory structured e-invoicing and digital reporting for B2G and B2B transactions E-invoicing mandatory for B2G transactions from January 1, 2025, and for B2B transactions from...
8 months ago
Over 150,000 emails sent by AADE for issuing and transmitting digital invoices to myDATA
The Independent Authority for Public Revenue (AADE) sent over 150,000 emails for issuing and transmitting digital documents circulation to myDATA The AADE sent 154,910 reminder emails for the issuance and transmission...
8 months ago
ViDA – Changes to the EU VAT Directive 2006/112 – Old vs. New articles
Click HERE for an overview of the changes in the EU VAT Directive 2006/112/EC related to the ViDA proposal – Old version of the relevant articles vs new articles. The changes vs. the previous version issued in May...
8 months ago
Belgium’s Mandatory E-Invoicing: Compliance Details and Software Solutions for Businesses
Belgium will require mandatory e-invoicing for B2B transactions starting January 1, 2026 The mandate aims to streamline operations and combat VAT fraud Microenterprises and B2C transactions are excluded from the...
8 months ago
EU Council Considers Extending Italy’s Mandatory E-Invoicing to Combat Tax Fraud and Improve Compliance
EU Council considering extending Italy’s mandatory e-invoicing authorization until December 31, 2025 Aim is to reduce VAT fraud and improve tax compliance Italy’s e-invoicing system has increased VAT revenue...
8 months ago
NBR Trials e-Invoice for VAT System, Dumps Device-Based Taxing After Long Piloting
NBR is introducing e-invoice system to automate VAT collection Device-based taxing system being dumped after prolonged piloting E-invoicing to be introduced in phases starting with large taxpayers EoI invited to hire...
8 months ago
Recent VAT Revisions in the UAE: Roadmap for E-Invoicing Implementation and Governance Structure Review
UAE Ministry of Finance issued Federal Decree-Law No. 16 of 2024 amending VAT provisions Amendments focus on implementation of e-invoicing in UAE by Q2 2026 Businesses encouraged to review amendments and assess...
8 months ago
