France is moving forward with one of the most ambitious digital tax reforms in the European Union, i.e. the rollout of a mandatory B2B electronic invoicing and electronic reporting regime. Designed to modernise VAT-collection, combat fraud, and increase operational efficiency for businesses, this e-invoicing mandate will gradually apply to
Introduction On the 16th of May 2023, the Dominican Republic ("DR") took a major leap forward in tax modernization, with the enactment of Law 32-23 ("the Law"), which formally establishes a mandatory electronic invoicing system. Which is known locally as the Electronic Tax Receipt (Comprobante Fiscal
What is OSS? The One-Stop Shop is a European Union (EU) VAT compliance scheme that simplifies the declaration and payment of VAT for businesses engaged in cross-border B2C (Business-to-Consumer) sales of goods and services within the EU. Introduced as part of the EU’s e-commerce VAT reforms in July 2021,
Compliance in the Land of the Nile: Journey of e-Invoicing in Egypt Egypt has embarked on a comprehensive digital transformation of its tax system through the introduction of mandatory e-invoicing and e-reporting requirements, spearheaded by the Egyptian Tax Authority (ETA). These mandates aim to enhance tax compliance, increase transparency, and
Overview In today’s increasingly digital world, trust is no longer built with a mere handshake. It’s encoded in cryptographic keys and verified in milliseconds. As businesses and governments move towards a more paperless processes and transnational digital services, tools like electronic identification (eID), e-seals, e-signatures, and digital certificates
Mandatory e-Invoicing Implementation in Belgium The Belgian Government has only recently implemented an e-Invoicing mandate, specific to B2G transactions (including all suppliers of public entities) where the contract was published after 1 March 2024. This obligation finds application to public administration contracts with the value of €3,000.00 or
Overview: The Rise of e-Invoicing in Singapore Singapore has been at the forefront of adopting digital invoicing, marking significant milestones in its technological transformation. In May 2018, the Infocomm Media Development Authority (“IMDA”) became the first Peppol Authority, outside of Europe, adopting the Peppol framework utilising Peppol access point providers.
General: The New Bookkeeping Act and E-Invoicing The concept of e-Invoicing is not new to Denmark. The Danish Parliament has been implementing Danish tax legislation to regulate the exchange of electronic invoices as early as 2005. In November of 2024, Denmark released an executive order that requires Danish companies to
Background: E-invoicing in France On 15 October 2024, the Ministère Chargé du Budget et des Comptes Publics, with the direction Générale des finances publiques (‘DGFiP’) of the French tax authority, did a press release in which the DGFiP stated that there will be a reform in the development of the
What is Peppol? Peppol, the brand’s name, is an acronym which stands for Pan-European Public Procurement Online. The purpose of the creation of the “Peppol”-platform, is to establish a channel that is utilised to send and receive electronic invoices. This will include sending electronic invoices to recipients, such
What is a CTC model? What does CTC stand for? Continuous Transaction Control (CTC) models refer to the mandatory transaction data reporting and verification procedure to be followed in order to submit e-invoice data to the relevant tax authority. This allows the relevant tax authority to collect data on-line and
ViDA Estonia has been the predetermining factor in the adoption of ViDA (VAT in the Digital Age). As previously, Estonia held a ‘veto’ to one of the Pillar's of ViDA. As of 5 November 2024, Estonia has removed their ‘veto’ as a compromise was reached, thus drawing a