Blog

Is India on a Path toward Mandatory B2B E-invoicing?

As more and more countries across the world depend on VAT, GST or other indirect taxes as the single most significant source of public revenue, governments are increasingly asking themselves what technical means they can use to ensure that they maximize the collection of the taxes due under the new tax regimes. India is the […]

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From E-invoicing to E-ordering: New Mandate Coming to Italy in October

Italy has been at the forefront of B2G e-invoicing in Europe ever since the central e-invoicing platform SDI (Sistema di Interscambio) was rolled out and made mandatory for all suppliers to the public sector in 2014. While a number of its European neighbors are slowly catching up, Italy is continuing to improve the integration of […]

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French VAT Fraud Prevention Package to Include a New Attempt to Mandate B2B E-invoicing

The French Minister of Public Accounts and Action, which has authority over all tax matters, has taken advantage of the process that is required to transpose the EU E-Commerce Directive to launch a number of initiatives to curb VAT fraud, including a renewed attempt to create a system of mandatory e-invoicing. Going from B2G to […]

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France: New Mandatory Invoice Content Requirements Introduced

To help reduce delays in the payment of invoices, the French authorities by Ordinance No. 2019-359 of 24 April 2019 have clarified their invoicing rules to include two new mandatory content requirements.  These are in addition to those already in place. The two new requirements stipulated in the France invoice mandate are: 1) To provide […]

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Italy’s E-Invoicing Mandate Extends to San Marino

Since Italy’s electronic invoicing mandate was introduced at the start of this year, suppliers performing cross-border transactions have been exempt from this obligation.  This is about to change as Italy and the enclaved country of San Marino will shortly agree on mutual mechanisms to allow the use of e-invoices for transactions between the two countries […]

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Why Clearance E-invoicing Is Both Inevitable and Positive for Businesses

Clearance-model e-invoicing will sweep the globe because it works – at least for tax administrations. With the VAT gap opening to more than half a trillion dollars worldwide, governments around the world are likely to follow the Latin American model of tax authorities inserting themselves into transactions. A new report from Bruno Koch at industry […]

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How to Get Control of Your Invoice Archives: It’s Not Too Late

We all know that invoicing processes are increasingly tangled up in real-time and other complex tax requirements around the world. However, when you ask companies if they are in control of the storage of their accounts payable and accounts receivable invoices, you often get somewhat surprised—if not vaguely insulted—reactions. Really, what kind of company doesn’t […]

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With Foriba Acquisition, Sovos Strengthens Position in Modern Tax Software

Today, we announced Sovos will acquire Istanbul-based Foriba, bringing another global pioneer of e-invoicing compliance into the Sovos solution. The Foriba acquisition marks a milestone for Sovos and for our customers around the world, who face a monumental shift in digital taxation. As tax administrations accelerate adoption of continuous compliance, businesses are dealing with the […]

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Colombia DIAN UBL 2.1 E-invoicing Mandate Reminds SAP Shops Why Compliance Matters

Colombia’s new electronic invoicing mandate serves as another reminder to SAP that compliance has to be at the heart of digital transformation efforts and migrations to SAP S/4HANA. The South American country, following the lead of Latin American neighbors Brazil and Mexico, is moving from a reporting e-invoicing model to a clearance model. Effectively, that means […]

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Europe Embraces Digitized Invoices but Country Specific Requirements are Diverse

Based on the Billentis report of 2019 (The E-invoicing Journey 2019-2025), automated e-invoicing will generally result in cost savings of 60-80% compared to conventional paper format invoices. In this age of digital transformation, optimizing invoice flows is top of corporate agendas for most companies to improve efficiencies and reduce operating costs. And many companies want […]

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Colombia anuncia el nuevo modelo de validación previa y el protocolo UBL 2.1 para su mandato de facturación electrónica

La autoridad fiscal de Colombia, DIAN (Dirección de Impuestos y Aduanas Nacionales), ha anunciado nuevos cambios a su mandato de facturación electrónica que serán implementados según la Resolución 020, orientada a las empresas que aún no han adoptado este modelo de facturación. Quienes ya son facturadores electrónicos deberán implementar el nuevo modelo antes del 2 […]

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A New VAT System for Costa Rica – Part I

The Costa Rican government enacted law 9635/2019 which introduces a new value added tax (VAT) system effective July 1, 2019. The new VAT replaces the current hybrid General Sales Tax (locally known as IGV) which existed for almost four decades. The new VAT is markedly different from the IGV, with some of the key differences […]

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Shielding SAP Central Finance Migrations from Tax Compliance Mandates

With more companies focusing on global integration, cross-border supply chains and expanding ecommerce, governments across the globe are introducing new ways to enforce tax rules and close their tax gaps. The evolving global regulatory environment produces unique tax determination and reporting challenges in the United States and additional VAT and e-invoicing compliance challenges around the […]

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Sovos Expert to Speak on Tax Compliance in S/4HANA at SAPPHIRE

Pawel Smolarkiewicz, chief product office at Sovos, will speak on the digital transformation of tax and its effect on SAP S/4HANA at next week’s SAPPHIRE conference in Orlando.   As countries make continuous tax compliance the new normal, businesses are finding that they have to respond by putting tax compliance functionality at the core of […]

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E-invoicing: Optimization Strategies to Withstand the Digital Tax Tsunami

The great corporate awakening Many corporations that previously saw e-invoicing mandates as a developing country problem are now realizing that invasive transaction-based digital tax controls are popping up everywhere around the world. Teams of experts and executives across finance, IT, tax and other functions are being pulled together by leading enterprises to define ways to […]

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SAP Central Finance Drives Move to S/4HANA, Making Tax Compliance a Priority

SAP Central Finance is driving migration to SAP S/4HANA as companies look to deliver value to their finance and accounting organizations, as well as improve on the configuration of previous financial systems. And for most companies making the transition, tax compliance is a priority. In a recent survey by SAP Insider, 74 percent of SAP […]

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SAP Central Finance Migration: Tax Compliance Spells Trouble

SAP S/4HANA is the promised land for SAP customers: an entire suite of ERP functionality in one place with a single data store. The ability to run all ERP capabilities, both from SAP and non-SAP systems, from a single source represents delivery of a model IT professionals and SAP administrators have sought for years. Getting […]

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E-factoring for Small and Midsize Companies Finally Arrives in Argentina

With the issuance of Resolution 5/2019 by the Ministry of Labour and Production, Argentina has implemented the electronic credit invoice, a credit instrument intended to speed up payments and finance of small and midsize companies. The electronic credit invoice is an invoice that the supplier issues to the buyer. The supplier will then also fiscally […]

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