General Background Romania has been making strides in the e-invoicing world since 2020. The Romanian Ministry of Public Finance first mandated the use of e-invoicing and e-reporting for B2G transaction in July of 2022. E-invoicing was thereafter mandated for B2B transactions in July of 2024. Now, B2C transactions will be
General India has gradually been implementing electronic invoicing since 2020. Subsequently, many postponements for the mandated use of e-invoices have been allotted. The postponements are to ease the adjustment into the current global digitalisation, of which, India has now become a gracious participant. The implementation of e-invoicing in India is
On 5 November 2024, the Council of the European Union, focusing on Economic and Financial Affairs (ECOFIN), convened in Brussels. The meeting adopted a comprehensive agenda tackling both legislative and non-legislative matters critical to the economic framework of the EU. One of the key agenda points discussed is the VAT
eezi was born from the heart of the VATit Group, with the primary goal of creating a meaningful suite-of-services across the VAT realm. We envision being the one-stop-shop for clients, with simple and effective service being our number one priority. eezi has collaborated with VATit Reclaim to bring a streamlined
e-Invoicing Tax administration in the digital era is a critical topic for companies worldwide. Globally there has been a trend towards real-time tax compliance including e-invoicing. There is a focus on digital records, transactional-level data, and real time reporting to tighten tax controls and increase the effectiveness of tax collection.
Starting 1 January 2025 the German e-invoicing mandate will begin, with a phased rollout extending until early 2028. Acknowledging the significance of this change, the tax authorities issued a draft introductory letter on the new e-invoice in June 2024. On 15 October 2024, they released the final introductory letter, outlining
France in Focus: La Facturation et les Rapports électronique On the 15th of October 2024 the Ministère Chargé du Budget et des Comptes Publics, did a press release advising on a transition in the development of e-invoicing and e-reporting in France. The simplification of electronic invoicing is a foremost step
There is a possible delay in the implementation of electronic invoicing in Spain – yet again! The Spanish Tax Agency plans on implementing electronic invoicing and reporting in two separate drives – Verifactu on the one hand and mandatory B2B invoicing, as introduced by the Crea y Crece law on the other.
On 23 September 2024, the UK Chancellor of the Exchequer announced plans to focus on improving the UK’s tax system to help fix the foundations of the UK economy. Included in the package, HMRC will also launch a consultation on electronic invoicing shortly. This will promote the wider use
General Background The beautiful country of Norway, situated on the Scandinavian Peninsula, has been aiming to further foster the digitalization of invoicing and reporting. Their goal being - to digitize the entire ‘order to pay process’. The current mandate imposed, only finds application to central, regional and local public contracting
On 18 July 2024, Israel’s Tax Authority (ITA) introduced an updated version of its technical specifications for its electronic invoicing mandate. This new version details the clearance Continuous Transaction Control (CTC) model that taxpayers must adhere to claim VAT deductions on cleared invoices. According to these revised technical specifications,
Starting January 2025, new changes will come into play in Portugal’s e-invoicing regulations: * Starting from 1 January 2025, a new regulation will come into effect regarding Portuguese invoices. According to this regulation, all invoices issued in PDF format must include a digital signature to be considered valid, along with
General Background Starting in 2018, Taiwan’s Ministry of Finance has gradually implemented the mandatory use of electronic invoices, with the goal of future applicability to all taxpayers. The initiation of the undertaking is to provide a more efficient and affordable Cloud processing service. This prevents logistical problems and erroneous
Starting 1 January 2025, all German-based companies must be capable of receiving electronic invoices (e-invoices) in the EN16931 format. The consent of the recipient will no longer be required for an invoice issuer to issue electronic invoices. Are you ready for the change? What changes do businesses need to prepare
Although September 2026 seems to be some time away, there is much preparation to be done ahead of the B2B electronic invoicing implementation date in France. The French tax authority, Direction Générale des Finances Publiques (DGFiP), along with the state agency Agence pour l'Informatique Financière de l'
The Inland Revenue Board of Malaysia (HASiL) has announced a postponement of its mandatory e-Invoicing implementation by six months, in an attempt to ensure smoother compliance with the mandate for businesses. HASiL noted that certain industries had a more challenging time in adhering to the timelines mandated. This delay has
The Malaysian Government announced the implementation of e-invoicing as an effort to enhance the efficiency of Malaysia's tax administration management. The e-invoice system implemented will enable near real-time validation and storage of transactions, including B2B, B2C and B2G transactions. Taxpayers in Malaysia can select between two mechanisms for
