Japan 1st October 2023 qualified invoice regime with optional e-invoicing standard – Peppol BIS Billing 3.0 International (‘PINT’) Japan’s new qualified invoice regime, which underpins the deductibility of Consumption Tax invoices, is being supported by e-invoicing as an option. Japan has adopted the European and
Finland to evaluate mandatory real-time e-invoicing Finland is set to review mandating B2B e-invoicing / digital reporting for its taxpayers. This comes as the EU VAT in the Digital Age plans progress towards implementing structured e-invoicing for intra-community supplies from 2028. The news was included
Invoice Quick Response Codes are becoming mandatory as tax authorities digitise As part of the efforts to recover billions in lost VAT fraud and digitise tax, many tax authorities are imposing the obligation to include Quick Response Codes (QR Codes) on VAT / GST invoices.
Global standard for CTC electronic invoicing to fight VAT fraud Peppol CTC (Continuous Transaction Controls) is a 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 interoperability
Spain publishes draft e-invoicing regime: decentralised CTC with public portal or certified third-party agent submissions Spain’s State Tax Administration Agency (Agency Estatal de Administracion Tributaria) has updated the draft draft Royal Decree for its proposed e-invoicing regime applicable on B2B transactions – companies and self-employed
Tax Agency requests investigation to review mandatory electronic invoice for B2B and G2B Sweden is progressing its review of e-invoicing options with stakeholders in the sector. Skatteverket (tax agency), Bolagsverkey (company registration body) and Digg (government digital agency) have requested government to start an investigation
Ministry of Finance phases in 2024-28 pre-clearance B2B e-invoices to tackle fictitious invoice fraud The Israeli Ministry of Finance is progressing a Continuous Transaction Control (CTC) based electronic invoicing regime. The aim is to tackle the large ‘fictions invoice’ fraud problem, often used by criminal gags
New incentives to adopt E-Tax System Thailand’s Revenue Authority has approved a number of incentives for taxpayers to fully adopt the E-Tax System, which provides for digital reporting of invoices and withholding tax payments. Incentives include: Additional deduction allowances for costs reporting in the system
VAT Advisor ends the pain for complex cross-border transactions If you are selling cross-border goods or services – traditional or digital – you’ve got international VAT / GST questions: Who should pay how much tax, and in which country? What tax laws, EU VAT Directive
FATOORAH mandatory e-invoicing 1 January 2023 for large taxpayers; follows Dec 2022 voluntary phase ZATCA confirms 1 July 2023 next wave for mandatory e-invoicing Saudi Tax and Customs Authority (ZATCA) on 23 December confirmed the criteria for the mid-sized wave of mandatory e-invoicing, FATOORAH. This will
