UK extends MTD digital record-keeping and filing obligations to 1.1 million taxpayers from 1 April 2022; builds on phase II, April 2021 The requirements around digital VAT record keeping and submissions through MTD-compatible software to HMRC are to be extended to around 1.1 million small
European Commission VAT reforms public consultation extended 20 days The EC has stretched out the public consultation deadline of its VAT in the Digital reforms from 15 April to 5 May 2022. The public call for evidence phased completed on 17 February. The consultation seeks
Canada’s Revenue Agency (CRA) has provided suggested guidance on e-invoicing in 2018. This is based on the UBL model (see below). The format is only voluntary. Check VAT Calc’s global live VAT invoice transaction and e-invoice reporting tracker to see where else real-time submissions of invoices is
Upgrade to 4.0 CFDI mandatory July 2022 The latest version of CFDI e-invoicing system becomes mandatory 1 July 2022 following its optional launch on 1 January 2022. 4.0 changes include: Export information requirements Reporting linked invoices Reversal of invoices reported. Mexico’s Servicio de Administración Tributaria, ‘SAT’
DGI updates rules of pilot and deadlines for roll out of mandatory e-invoicing Since 2021, a pilot roll out is underway of mandatory e-invoicing for all new taxpayers on the Electronic Invoicing System SFEP (sistema de facturación electrónica de Panamá). Part of the aim of the pilot
3-phase launch for B2B electronic invoicing starting July 2023? An ambitious, and potentially subject to delay timetable for the introduction of mandatory B2B invoices in Belgium is being circulated to gather options. Belgium has so far not applied to the European Commission and EU Counsel
Real-time transaction-based reporting and pre-clearance of VAT invoices to tax authorities to improve tax collections and simplify compliance Governments seize control of invoicing process As governments around the world look to close the VAT Gap – missed VAT or GST tax collections – many are
Threshold on electronic reporting of e-invoices cut ahead of live reporting South Korea’s near real-time e-invoicing regime will be made mandatory for a larger group of companies as it cuts the reporting threshold from KRW 300m to KRW 200m from 1 July 2022. Plans for
Egypt e-invoicing mandates further businesses Egypt is to open its e-invoicing regime to the sixth round of businesses on 15 February 2022. The project was started in November 2021 with 134 of the largest companies. The Egyptian electronic invoice system is a pre-clearance continuous transactions
2022 – three further provinces join electronic invoicing pilot China’s State Taxation Administration (‘STA’) is continuing to expand its voluntary introduction of the special e-fapiao e-invoice system, based on national invoicing platform, since the last wave of 25 regions joining the pilot in January 2021. These are
