On 3 April 2020, storage guidelines for e-ledger were published by the Turkish Revenue Authority (TRA). The guidelines set out the requirements and standards for special integrators, and the requirements for supporting secondary storage services for e-ledgers, e-ledger summary report (Berat) files and other documents created through the e-ledger system. Background The Communique, first published […]
Update: 3 May 2024 by Dilara İnal Israel Postpones CTC Rollout The Israeli Tax Authority (ITA) has postponed the rollout of the continuous transactions controls (CTC) mandate. The deduction of input tax is allowed with this second postponement, even in the absence of an allocation number, until 4 May 2024. The previous cut-off date was […]
We are in unprecedented times where hour-by-hour change has become the new norm. This is particularly true across our industry as governments evaluate and assess every direct and indirect tax at their disposal as part of broader economic stimulus measure. Tax authorities across the world – national, regional and overseas territories – have acted decisively […]
On March 26, 2020, TRA published an announcement that postpones the deadlines for submitting e-Ledgers and e-Ledger summary reports ( berats). While the impact of COVID-19 takes hold around the world, we’ve been watching the different governments adapt to accommodate changes to support businesses and their economies. It is now Turkey’s turn. The General Communique […]
India’s e-invoicing reform has been introduced as a very important step towards digitizing the country´s tax controls. Even though the reform has been under discussion for more than a year, the initial roll-out for the implementation process would have been a challenge for all stakeholders which was finally set to begin mandatorily on 1 April […]
The economic impact and consequences of coronavirus are unprecedented as it spreads across different countries. To protect their markets, many countries have reacted by loosening obligations and lowering rates. While most of these initiatives have an immediate impact on a business’s cashflow and are welcome they also, in many cases, have a long-term impact on […]
From 1 April 2020, Norway will require non-resident suppliers of “low value” goods to Norwegian consumers to charge VAT on such supplies. Norway is the latest in a series of countries to take this step ahead of similar changes scheduled to begin in the European Union next year. Around the world, countries impose VAT style […]
In the past five years, transaction automation platform vendors who embraced e-invoicing and e-archiving compliance as integral to their services grew on average approximately 2.5 to 5 times faster than the market. Two decades of EU e-invoicing: many options, different models Until 1 January 2019, when Italy became the first European country to mandate B2B […]
For companies operating in Turkey, 2019 was an eventful year for tax regulatory change and in particular, e-invoicing reform. Since it was first introduced in 2012, the e-invoicing mandate has grown, and companies are having to adapt in order to comply with requirements in 2020 and beyond. According to the General Communique on the Tax […]
New go-live date for myDATA legislation A new roll-out date for the myDATA e-books mandate was announced by the Greek tax authority, the IAPR, during a recent meeting with local industry groups. While nothing is formal and binding until it’s been codified through law, the tax authority seems to have made up its mind about […]
Countries worldwide are introducing indirect tax measures intended to mitigate the economic consequences of the coronavirus pandemic. Prospective measures by EU Member States include: Austria Austria has announced that taxpayers can seek elimination of default interest and penalties for late submissions resulting from coronavirus. Belgium Belgium has announced that businesses encountering financial difficulties can […]
In the last several weeks, we have monitored many efforts by federal, state and local governments to provide relief to both businesses and individual taxpayers impacted by the COVID-19 pandemic. As they relate to indirect tax (VAT/Sales Tax/GST), the measures enacted to-date have followed varying paths. Here are a few examples of the types of […]
Originally posted: March 18, 2020, at 5:00 p.m. ET. Last Updated: June 29, 2020, at 5:00 p.m. ET. The impact of COVID-19 on businesses across the globe has been swift and severe. In response, many federal, state and local governments are working to provide relief to both businesses and individual taxpayers impacted by the pandemic. […]
The expansion of Poland’s new SAF-T report (JPK) barely took effect before Poland is steaming ahead with a more far reaching plan. It aims to introduce a centralized e-invoice system via an exchange platform in 2022. In an interview published on the Polish Ministry of Finance webpage, the Minister of Finance says that implementing mandatory […]
With roughly two weeks to go until the first mandatory phase of India’s e-invoicing reform was set to go live, the GST Council has now decided to slam the breaks and halt the go-live. Or at least, bring it to a significant temporary standstill of 6 months, until 1 October 2020. Following a long list […]
Anyone predicting clearance model e-invoicing system, Italy’s FatturaPA, would undergo further reform would be right. Agenzia delle Entrate – AdE, the Italian tax authority, has issued new technical specifications and schemas for Italian B2B and B2G e-invoices. But – what do these changes really mean? And what impact do they have on business processes? Technical […]
The Turkish Revenue Administration (TRA) has now published the long-awaited e-Delivery Note Application Manual. The manual clarifies how the electronic delivery process will work and answers frequently asked questions. It addresses the application as well as its scope and structure, outlines important scenarios and provides clarity for companies who are unclear about the adoption of […]
A keystone of HMRC’s Making Tax Digital for VAT (MTD) regime is that the transfer and exchange of data between what HMRC define as “functional compatible software” must be digital whenever that data remains a component of the business’s digital records. This is to maintain a wholly digitally linked audit trail between systems. Soft landing […]