Blog
Since the first launch of eInvoicing mandates in Brazil 10 years ago, eInvoice adoption has now spread worldwide. Governments are implementing complex, real-time, transaction-level requirements to gain visibility into tax liabilities, close the tax gap and minimize corporate tax evasion. eInvoicing compliance is not a simple process for businesses – it requires a total shift […]
The floodgates may be opening. Following the EU’s approval of mandatory e-invoicing in Italy, it appears that Greece will be the next European Union member state to follow in its footsteps. As announced after the meeting of the intergovernmental group on 23 April 2018, the introduction of a nationwide mandatory e-invoicing framework will come into […]
Ask any business student what the secret to commercial success is and they’ll tell you it’s profit margin, not just sales volume. Therefore, to be good at selling things you have to excel at buying them. Usually, companies have a strong incentive to tightly manage what’s called ‘direct supplies.’ These are the raw materials and […]
By Andy Hovancik – President & CEO Today, we announced the acquisition of Stockholm-based TrustWeaver to create a clear leader in modern tax software. TrustWeaver has become a seal of approval for the world’s largest procure-to-pay and AP systems. This is a testament not only to the effectiveness of its e-invoicing software and integrations, but […]
Hoje nós anunciamos a aquisição da empresa sueca TrustWeaver para criar uma clara liderança na nova era de software fiscal – e expandir nossa cobertura de e-Invoicing (faturação eletrônica) a 60 países em seis continentes. Nós estamos assistindo à faturação eletrônica espalhar-se por todos os continentes, adicionando complexidade e risco ao seu processo financeiro e […]
Hoy, anunciamos la adquisición de TrustWeaver con sede en Estocolmo, para crear un claro líder en software impositivo moderno – y expandir nuestra cobertura de facturación electrónica a 60 países en 6 continentes. Hemos visto el cumplimiento de facturación electrónica expandirse a cada continente, agregando complejidad y riesgo a tus procesos financieros claves. TrustWeaver se […]
Most countries that impose an eInvoicing mandate require taxpayers to report not only issued invoices, but also eInvoices received from their suppliers. With Colombia’s eInvoicing requirement reaching all taxpayers by January 1, 2019, and many prior to that date, companies operating in Colombia are asking whether the country is following this same pattern. Inbound eInvoicing: […]
Singapore was one of the early adopters of e-invoicing in the Asia Pacific region. Since 2008, e-invoicing has been mandated for all e-invoicing business to government (B2G) transactions. But, when it comes to B2B e-invoicing in Singapore – as a country with a legal system based on common law – has until now focused mainly […]
Several nations worldwide are following in the footsteps of pioneering Latin American countries, leveraging data and automation to ensure compliance with tax regulations. Building on early requirements for VAT reporting and eFiling, many countries are now focusing on transactional data with real-time electronic accounting, ledger, invoice and receipt mandates, paving the way to reach the […]
On 27 September 2017, Italy submitted a formal request for derogation from two provisions in the European Union VAT Directive – a formal hurdle and legal necessity to be able to roll out the ambitious e-invoicing mandate for all domestic Italian invoices. While waiting for the decision from the EU Council, Italy proceeded with legal […]
Mandatory eInvoicing in Costa Rica is becoming a reality in 2018. Initially targeted toward service providers, Costa Rica is rolling out the requirement to additional companies later this year, and they must prepare now for the change in processes and operations. Summary of the Law In late 2017, Costa Rica announced mandatory eInvoicing for service […]
La mayoría de los países que imponen un mandato de facturación electrónica requieren que los contribuyentes informen no solo las facturas emitidas, sino también las facturas electrónicas recibidas por parte de sus proveedores. Dado que el requisito de facturación electrónica de Colombia llega a todos los contribuyentes antes del 1 de enero de 2019 y […]
La Dirección de Impuestos y Aduanas Nacionales (DIAN) emitió una nueva resolución 000010/2018 el 6 de febrero que requiere que los grandes contribuyentes emitan y presenten facturas electrónicas antes del 1 de septiembre de 2018. En Colombia, esta resolución era esperada ya que la DIAN había emitido un borrador de la misma en el último […]
Costa Rica is currently in the process of transitioning to mandatory e-invoicing by 2019. The use of e-invoicing will help the Costa Rican government strive toward its goal of digital inclusion, but also help combat tax evasion by optimising tax controls. Its strategy will place it alongside other Latin American countries, including Mexico, Brazil, and […]
Real-time electronic audits are increasingly common throughout Latin America, requiring companies to maintain 100% accuracy in their electronic documents and record-keeping. This process all starts with the eInvoice – audits are triggered if an invoice isn’t submitted correctly or if it is inconsistent with eAccounting reports and other electronic filings from a company’s buyers and […]
Brazil’s eInvoicing and electronic reporting measures are undergoing a major overhaul in 2018. Companies that are not already in compliance with the new eInvoicing schema, NFe version 4.0, and REINF, a new digital bookkeeping requirement, need to update their processes immediately, as the deadlines for each are imminent. The new specifications for Brazil’s eInvoicing schema, […]
Many companies may consider government-mandated eInvoicing regulations a hassle, requiring them to revamp time-tested processes and upgrade to new technologies while adding new responsibilities and risk throughout the organization. However, eInvoicing can ultimately deliver business benefits, reducing costs, streamlining workflows and driving ROI. Consider these top 6 positive impacts of eInvoicing: Reducing costs – In […]
In quest’ultimo anno, si è parlato molto, talvolta anche speculando, della situazione della fatturazione elettronica in Italia e, più precisamente, dell’ipotesi che l’Italia potesse o meno rendere obbligatorio l’interscambio di fatture elettroniche per tutte le forniture di beni e servizi. Dopo avere ripetutamente riferito di questi sviluppi man mano che si producevano, Sovos ritiene di […]