South Korea first introduced mandatory real-time electronic tax invoice (e-Tax) requirements in 2011, expanding it to most taxpayers by 2014. This includes pre-clearance of sale invoices with the Korean National
Latvia enacts EU reduced VAT agreement on e-books and news 1 January 2022 The Baltic state of Latvia’s Parliament has agreed to cut the Value Added Tax rate on income
Early adopter of OECD Standard Audit File for Tax taxpayer data scheme Luxembourg introduced the Standard Audit File for Tax (SAF-T) in January 2011. It is known as FAIA (Fichier
India introduced mandatory B2B government pre-clearance electronic invoicing from 1 October 2020, completing the phased implementation by 1 April 2021. The latest Indian e-invoice threshold is ₹20 crore since April
€26bn net gain to the economy during lockdown as standard rate cut from 19% to 16% in 2nd half of 2020 German’s controversial six-month 3% standard VAT rate cut to
Three member states fail to clarify proper adoption of new July 2021 e-commerce VAT rules The EU’s European Commission has warned with a Letter of Formal Notice Croatia, Denmark and
Next round of taxpayers added to Declaration 406 requirements; given 6-month soft landing for first filing The Romanian National Agency for Fiscal Administration (ANAF) has named an additional round of
The Israeli government has included proposals to levy VAT on non-resident providers of digital or electronic services to its consumers in its 2021/22 budget for 1 January 2022 at the
South Korea is to implement on-demand transaction reporting from 1 July 2022 for non-resident suppliers of digital or electronic services. Korea first implemented VAT on digital services in July 2015.
Angola implemented VAT on foreign service from 1 October 2019. However, there are no detailed rules related to digital or electronic services. A local Fiscal Representative is required to represent
Indonesia introduced its e-invoicing regime, e-Factur, in July 2015, completing in 2016, for all VAT registered businesses. This includes a government clearance system and QR Code (Quick Response Code) requirement.
HMRC’s MTD for VAT 45% behind 2020/21 revenue budget; cost for taxpayers £1.5billion The UK’s National Audit Office has stated that expected revenues from HMRC’s Making Tax Digital for VAT
Invoice Traceability Model adopted on certain import transactions; 2023 potential full B2B pre-clearance e-invoicing Russia has become the latest country to introduce a type of compulsory electronic invoicing. The new
France moves to close shell Intermediary representatives France is to enforce new requirements for Intermediaries – a type of Fiscal Representative – for the new Import One-Stop Shop IOSS returns
Italy delays Plastic Bag Tax; implements EU Quick Fixes Italy’s Council of Ministers have approved the 2022/24 budget, which included the following VAT and indirect tax measures: Introduce call-off stock
Taiwan implemented Value Added Tax obligations on non-resident providers and marketplaces for electronic or digital services from 1 May 2017. There is a NTD 480,000 VAT registration threshold for simplified
Consumption tax hikes announced ahead of final independence vote The French Pacific territory of New Caledonia is to raise its Value Added Tax rates in 2022, as follows Jan 2022:
Malaysia imposed its Service Tax on foreign-provided digital services from 1 January 2020. This includes providers and electronic platforms. There is a RM 500,000 Sales Tax registration threshold. Non-residents must
VAT automation products that simplify your international VAT determination, invoicing and reporting