VAT & B2G Reporting Newsletter: August 2018

Sovos
September 4, 2018

Country-by-Country News

The Final Countdown to Mandatory eInvoicing in Italy

September 1 marked the second milestone of the entry into force of the Italian eInvoicing mandate – this time targeting certain B2C goods purchased by non-EU citizens over a certain amount. But crucially, it also marked the three month, or 122 day, countdown to the final deadline when eInvoicing will become mandatory for all domestic B2B and B2C transactions in Italy.

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Argentina Modifies the Invoicing requirement for Small Taxpayers

On August 3, 2018, the federal tax administration of Argentina (AFIP) enacted Resolutions 4290, 4291 and 4292, which specify deadlines and unify procedures that taxpayers should follow when issuing, reporting and saving invoices. According to these resolutions, regular and small taxpayers, as well those that are not subject or exempt from VAT, should use Fiscal controllers of New Technology or use use electronic invoices when doing transactions in Argentina. For that purpose, Resolution 4290 establishes different deadlines for complying with the new mandate that depend on a) the type and category of taxpayer (exempt, small or  regular taxpayers), b) the type of invoices to be issued (fiscal controllers or electronic invoices), c) the type of transactions carried out (B2C vs. B2B), and d) the level of revenues obtained during the previous fiscal year. Based on those parameters, the deadlines for starting to use the Fiscal Controllers or Electronic Invoices are as follows:

  • For small taxpayers using the simplified regime
  • For entities exempt from VAT
  • For transactions where the invoice should be issued outside the location of the service provider (home delivered services or goods by mobile taxpayers)

Poland Considers Dropping Periodic VAT Return

While nothing is official yet, there have been rumblings out of the Polish Ministry of Finance that sometime in 2019 the Government may do away with the time-tested requirement of submitting a monthly VAT return. In lieu of requiring the monthly return, Poland would incorporate additional data elements into their existing monthly SAF-T (Standard Audit File – Tax) requirements, locally known as JPK.

Tax is definitely going digital, but only a handful of countries have even considered eliminating standard periodic VAT filings. Stay tuned through this forum as circumstances evolve in Poland.

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Sovos

Sovos is a global leader in tax compliance and business-to-government reporting software, safeguarding businesses from the burden and risk of compliance around the world. As governments go digital, businesses face increased risk and complexity. The Sovos Intelligent Compliance Cloud combines world-class regulatory analysis with a global cloud software platform to create an adaptable, connected and global compliance solution that keeps businesses ahead of the ever-changing regulatory environment. Sovos supports 4,500 companies, including half of the Fortune 500, and integrates with a wide variety of business applications. Based in Boston, Sovos has offices throughout North America, Latin America and Europe. For more information visit and follow us on LinkedIn and Twitter.
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