Brazil’s e-invoicing regime, Nota Fiscal Eletrônica NF-e, is operated by SEFAZ, the tax authority. It introduced the NF-e in 2005. You can keep up-to-date with VAT Calc’s global live VAT invoice transaction and e-invoice blog on country real-time reporting reforms. There are three types of electronic fiscal
Japan has raised its main Consumption Tax rate from 8% to 10% on 1 October 2019. It has also created a new reduced rate of 8% for basic supplies. This is the second rise in the indirect tax in recent years. The last was a
France has joined the UK and Germany in introducing from 1 January 2020 VAT obligations on marketplaces to help eliminate the VAT GAP and fraud in the e-commerce sector. The requirements will include verifying non-resident VAT registration of their sellers, and continuing reporting transaction data to
Italy has raised the threshold for issuance of simplified Value Added Tax invoices from €100 to €400. This will apply from May 2019. Invoices are not required for many B2C transactions unless requested. This includes retail, hotel accommodation and similar. The exemption on the simplified
Death of the VAT Return Over one million UK businesses are in the midst of HMRC’s biggest transformation of tax reporting – Making Tax Digital for VAT (MTD). The first mandated MTD VAT returns went in last month; the big first quarterly wave goes in
B2B electronic invoicing to reduce fraud and compliance obligations – consultation underway Croatia is the latest country to announce the role out of mandatory Mandatory structured e-invoicing between VAT registered businesses. This was announced by Ministry of Finance as being implemented for 1 January 2025.
The Federal Ministry of Finance has made marketplaces operating in German jointly and severally liable for their sellers on-platform VAT if they file to comply with new data recordkeeping requirements and checks. Germany imposed various third-party seller VAT obligations on marketplaces to help tackle an
Bahrain has become the third of six Gulf Cooperation Council (GCC) states to implement a 5% VAT regime. The six states agreed in 2018 to form a VAT and Customs union, similar to the European Unions. Key facts: Phased 3-stage registrations in 2019 of eligible
Non-resident become subject to reverse charge on B2B; customer must report transaction Croatia is to modify the rules on applying the reverse charge on goods and services for non-residents from 1 January 2019. Currently, any non-established businesses with or without a Croatian VAT number must
From 1 January 2019, Turkey has allowed limited recovery of Value Added Tax declared and paid on sales invoices which have subsequently good bac. The right to deduct is now based on article 322 of the Tax Procedures Code. The clarifies debts from customers may
