As Hungary moves towards a more transparent and efficient business environment, the introduction of mandatory electronic invoicing (e-invoicing) in the energy sector and the Real Time Invoice Reporting (RTIR) system are set to transform how companies operate. Starting this year, electricity and natural gas suppliers must comply with stringent new
The UAE is gearing up for a significant shift in its tax procedures by introducing mandatory e-invoicing. This move is driven by the issuance of Federal Decree-Law No. 17 of 2024, which amends key provisions of Federal Decree-Law No. 28 of 2022 on tax procedures, and Federal Decree-Law No. 16
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
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
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
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