E-invoicing and live digital reporting mandates mean VAT and GST must be calculated accurately in real-time to avoid blocked invoices, audits and potential losses. How to rise to the challenge The ‘luxury’ of a few weeks to retro-calculate transactional VAT or GST is coming to
European Commission (EC) proposes near real-time ‘post-audit’ model for 2028 Digital Reporting Requirements; rules out ‘pre-clearance’ reporting and approval by tax authorities of VAT invoices In its proposed Digital Reporting Requirements pillar of its VAT in the Digital Age reforms, the EC has opted not to require
ViDA reforms to EU VAT reporting and invoicing get underway this year as member states consider the most important reform proposals in 30 years On 8th December 2022, the European Commission (EC) published its proposed VAT in the Digital Age reforms in three pillars: Single VAT
Transaction data based on myDATA submissions now available for 2022 filings onwards The Greek tax office, AADE, is now offering voluntary pre-completed VAT returns for taxpayers to use. This covers late or corrective 2022 returns going forward. This service has been introduced at the start
ViDA reform conclusions 7 December 2022: Single VAT registration in the EU; Digital Reporting Requirements; and Digital Platforms and VAT The European Commission is set to publish its VAT in the Digital Age VAT Directive amendments on 7 December 2022. Read our ViDA reform predictions. The
Bahraini National Bureau for Revenue issues e-invoice launch tendor following public survey – possible January 2024 launch The Bahrain NBR is now seeking proposals for the introduction of an e-invoicing regime. This follows a public survey earlier this year. Bahrain is likely to follow the
European Commission publishes consultants’ report on impact of options for: Single VAT Registration; Digital Reporting Requirements; and VAT Treatment of Platform Economy As part of the completion of the EU VAT in the Digital Age reforms programme, the European Commission has published reports prepared by
EU VAT Directive amendments for Single VAT registration, digital reporting requirements (e-invoicing) and digital platforms VAT role due November The European Commission has confirmed that details of major reforms to the VAT regime will be published on 16 November 2022. These reforms, known collectively as
European Commission seeks to harmonise digital Continuous Transaction Controls ‘CTC’ options for VAT e-invoice and real-time reporting. VAT Directive Amendments by 7 December 2022 Read our ViDA reform predictions for e-invoicing and intra-community near-real time reporting. The European Commission (EC) is undertaking a review to introduce harmonised
