Outstanding decisions on Partial or Total Harmonisation of Digital Reporting Requirements The EU review of digital reporting requirements (DRR) is now progressing following the completion earlier this month of the public consultation. The DRR review includes options for EU-wide live transaction or e-invoice reporting to
Japan’s 2022 tax reform bill includes an update on the 2023 introduction of Qualified Invoices – a form of e-invoices. This will replace current interim Transitional Invoice Retention System Qualified invoices for tax deduction Japan plans to introduce Consumption Tax qualified invoices from 1 October
Sistem E-Faktura B2G electronic invoices May 2022; B2B January 2023 Serbia has confirmed the 2022 mandated Sistem E-Faktura e-invoices requirement for B2G transactions from 1 May 2022 (previously 1 January 2022). B2B invoices will still go ahead from 1 January 2023. This covers the creation, issuance, sending
Romania eFactură electronic invoices now open to registrations; phased launch 2022-23 Eligible businesses may now register for Romania’s new B2B RO e-invoicing regime. The first phase of mandated e-invoices is for fraud high-risk supplies (see below), and starts 1 July 2022 the Ministry of Finance has
Paraguay phased electronic invoicing in 2022; fully mandatory by October 2024 The Paraguayan tax administration (SET) is to roll out sales and purchase e-invoice registration obligations – SIFEN National Integrated Electronic Invoicing System – based on its e-Kuatia platform. The updated regime is termed Marangatú, a pre-clearance e-invoice system.
European Commission seeks to harmonise digital Continuous Transaction Controls ‘CTC’ options for VAT e-invoice and real-time reporting The European Commission (EC) is undertaking a review to introduce harmonised Digital Reporting Requirements (DRR) (previously known as ‘Transaction Based Reporting’) across the 27 member states. A public consultation
E-invoicing System EIS partial launch 1 July 2022; full rollout 2023 The Philippines Bureau of Internal Revenue (BIR) has launched at the start of April a small pilot e-invoicing programme, with the country’s largest businesses participating in a pilot. The aim for a 1 July
Tax authorities stage a coup d’etat of taxpayers’ VAT returns What’s the hottest topic in tax authorities’ minds? Live reporting? VAT on digital services? E-invoicing. No! It’s a much more fundamental shift of tax reporting control from taxpayers to the tax authorities – it’s no
Global standard for CTC electronic invoicing to fight VAT fraud PEPPOL CTC (Continuous Transaction Controls) is a proposed new technical architecture developed in 2021 by PEPPOL (Pan-European Public Procurement Online) that seeks to set a new standard for pre-clearance e-invoicing regimes based on CTC. It aims to improve
European Commission permits Poland to deviate from VAT Directive to impose obligatory B2B e-invoicing 1 April 2023 – 3 months later than original Jan plan Poland has been given by the EC a temporary departure from Articles 218 and 232 of the VAT Directive to be
