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First legislation of the myDATA The requirement for the mandatory submission of tax data to the Independent Authority for Public Revenue (IAPR) has finally been established in law, specifically in the new tax bill approved by the Greek parliament just a few days ago. The tax bill further mandates the IAPR to finalize, by way […]

Companies are dealing with a fundamental shift in the way they do business with trading partners. In a rapidly increasing number of countries, there’s a third party inserting itself into every transaction. It’s the government, and it’s wedging its way into every order a company ships or receives.  In an effort to close a massive […]

The value of data is rising The value of data is becoming more precious than oil.  Technology has transformed market dynamics across all sectors and the way businesses operate. Big data has grown in importance and data-based platforms are today’s new technology giants. On one hand; Facebook, Google and other data-based platforms are collecting data […]

Two months after closing the public consultation on the myDATA scheme, the Greek tax authority, IAPR, has yet to share the feedback received from the industry on the proposed scheme or make any official announcement in this regard. However, local discussions indicate that, the IAPR may reintroduce its initial agenda proposed back in August 2018, […]

Brazil is often viewed as one of the most complex tax jurisdictions in the world.  But, at the same time, it has been very successful in automating tax authority controls, and in doing so has replaced paper invoices with electronic invoices automating their exchange through clearance platforms. While the ambitious Brazilian plans to simplify the […]

Following India’s recent public consultation looking at the proposed introduction of an e-invoicing regime, the GST council has now released a white paper on the architecture of the new framework and also provided answers to a number of outstanding questions. From 1 January 2020, taxpayers in India can start to use the new e-invoicing framework, […]

In February 2019, Portugal published extensive and comprehensive legislation intended to regulate the invoicing processes in a growing digital environment. To this end, the country consolidated and reformed previous pieces of law scattered across the Portuguese legal system. Although some rules were already in force from the publication of this Law-Decree 28/2019, taxpayers expected further […]

Greece made an important step to digitize its tax system and introduce an innovative platform for taxpayers to fulfil their tax obligations. The new platform will offer businesses a collaborative environment where the data they provide to the Greek Independent Authority of Public Revenues (IAPR) will not only affect their own books but will also […]

Back in June this year, many heads were turned when the French Minister of Public Accounts and Action, Gérald Darmanin, went on record stating that the French Government has the intention of making e-invoicing mandatory also for B2B transactions. Now it seems that the Government – spearheaded on this topic by Minister Darmanin as well as by the Minister of Finance Bruno Le Maire – has moved from word to […]

A new wrinkle in Mexican electronic invoicing adds complexity to the e-invoicing process for maquiladoras, or foreign-owned factories operating along the US-Mexico border.  Compared to some other countries in Latin America, Mexico has kept its core electronic invoice, the CFDI, relatively simple. Whereas an invoice in Chile has 250 fields or more of required information, […]

In less a  weeks’ time, on 1 October, all purchase orders associated with the Italian National Health System (Servizio Sanitario Nazionale, SSN) will be exchanged through the public administrations’ Purchase Orders Routing Node platform (Nodo di Smistamento degli Ordini), commonly referred to as NSO. Although the new e-order mandate won’t affect the collection of VAT, […]

AP automation is supposed to save SAP customers money, but developments in digital tax could derail its benefits and actually create further liabilities. With tax authorities all over the world seeking to increase revenues and close tax gaps, IT professionals and AP system administrators face new challenges in indirect tax compliance. Among those challenges are […]

Far from being a burden, Peru’s electronic invoicing mandate has helped medium-size businesses embark on digital transformation while also catalyzing a broadening of the country’s tax base. The International Monetary Fund (IMF) will release this fall a study detailing the impact mandatory e-invoicing in Peru, which began in 2014 and has since moved to a […]

As a result of an e-invoicing mandate currently rolling out in Argentina, small and medium-size businesses (SMBs) are or will soon be required to use a specific form of invoice when billing larger companies.  Companies classified as SMBs (or PyMEs in Spanish) by AFIP, the Argentine tax administration, are required to use the Facturas de […]

Anyone familiar with the Discovery Channel’s Shark Week and the portrayal of hungry sharks setting their sights on surfers may be surprised to learn that tax and IT professionals may be feeling every bit as wary as those surfers as they enter their own version of shark-infested waters. The reason: IT and tax pros are […]

Introduced on 1 January this year, the Italian e-invoicing mandate and the strict archiving requirements for fiscal documents are well known by companies with business in the Apennine Peninsula. While some retailers are exempt from the e-invoicing mandate in the country, they must still comply with different auxiliary obligations.  This includes transmission of the data […]

Last month, we made some predictions on how the outcome of the recent elections would impact the agenda of the Independent Authority of Public Revenues (IAPR) on the envisaged e-invoicing and e-reporting reform. It looks as if the newly elected government is fully in-line with the IAPR agenda to implement e-reporting and bookkeeping (mandatory e-invoicing […]

Sovos officially closed the acquisition of Istanbul-based Foriba. This acquisition represents another significant milestone in our mission and makes it easier for businesses to overcome one of the greatest challenges they face: the digital transformation of tax. Across the globe, governments are mandating their own digital transformation, giving businesses two choices. The first is to […]