Twenty years after IBM Deep Blue beat Garry Kasparov in a series of famous chess games, another computer program, AlphaGo by Google DeepMind, won against Lee Sedol, a top professional player in the very complex ancient game of Go. In 2011, between these two landmarks, we saw IBM’s Watson win against former champions in Jeopardy. […]
E-invoicing clearance systems are increasingly being accepted and implemented worldwide. This development, with its origins in Latin America, is viewed by many market participants as potentially increasing tax compliance efficiency for businesses and public administrations alike. Mexico can be viewed as a relatively mature example of a clearance system. This country, where the tax administration […]
It has been a while since we posted news about Russia. To recap: e-invoicing is regulated but optional. Issuance is done via accredited operators, whereby both supplier and buyer must participate in a duplex clearance choreography. For more background, see previous posts. Interoperability across operators (called “roaming” in Russia – a misnomer) has been an […]
In line with other countries in Latin America, Colombia opted to roll out e-invoicing on a voluntary basis, coupled with individual mandates to join the e-invoicing framework to specific taxpayers (often within strategic industry sectors or upon exceeding certain annual turnover threshold). At the end of 2015, Colombia issued Decree 2242 updating their e-invoicing framework. […]
During 2016, Mexico started the process of updating the legally established e-invoicing format. More specifically, the xml version of the CFDI document is being updated from v3.2 to v3.3. The process had a deadline for full migration from CFDI v3.2 to CFDI v3.3 by 1 July this year. However, the Mexican Tax Administration has postponed […]
Pushed by fierce competition and under constant pressure from corporations to enable savings and optimize business processes, B2B transaction automation vendors are constantly looking into new features and functions to enhance the added value of their solutions. Many vendors in this space are developing into ‘business networks’ which go far beyond the early days of […]
[UPDATE – June 2017] The likely decision to postpone the implementation of changes in VAT reporting has now finally been announced. Hungary has now postponed the entry into force of this requirement by one year until July 2018 for two reasons: To actually get the technical specification published well in advance To give taxpayers and […]
Earlier this year we reported about the legal status and trends regarding scanning of inbound paper invoices in Europe. One of the topics raised in that post was that France was in the midst of legal reform in this area: for some time the French framework entirely prohibited the concept of conversion of form for […]
During the past couple of months a number of significant changes have seemingly unnoticed entered into force in Estonia. Interestingly enough, Estonia seems to be the first EU Member State to by law require XML format for the exchange of B2B e-invoices, or rather require taxpayers to issue e-invoices using “machine-processable formats”. Only taxpayers who […]
E-invoicing practitioners are well aware of the revolution that is caused by the imposition on businesses of messaging standards for purposes of tax ‘clearance’ and public procurement. Within the next decade, the business community as a whole will need to adapt to a parallel universe of standards designed for e-government transactional purposes. From what we’ve […]
In a previous post we informed that Peru has announced a radical change to its centralized e-invoicing framework turning it into a distributed one, whereby the tax authority SUNAT would delegate the clearance function to so-called Operators of Electronic Services (OSE). Recently SUNAT published draft legislation that provides technical and legal insight into this new […]
Mexico is one of the oldest pioneers in e-invoicing. With more than 10 years of experience, ~30 billion e-invoices, ~6 billion last year, it is worthwhile to see what the Tax Administration “SAT” has decided to change for the upcoming version 3.3, mandatory as of July 1st this year. As clearance gains more territory, what’s […]
The Italian government has in recent years put in place a package of legal measures with the ambition of boosting the adoption of e-invoicing across all sectors and especially for SMEs. Not too long ago, the government went so far as to make the Sistema di Interscambio, the public platform used to issue B2G e-invoices […]
The rules on conversion of invoice form and format are not harmonized across the EU and EEA. Thus, even though the majority of these countries allow for an invoice to be converted from paper to electronic form upon receipt, and at the same time for discarding the paper version, this is often permitted only subject […]
The use of electronic signatures for the purpose of fulfilling legal requirements for authenticity and integrity (A&I) in electronic or e-invoicing has been discussed extensively in recent years and has resulted in high-quality signatures being either mandatory (e.g. in Latain America, Russia, Turkey and China) or a well-defined option (as in the European Union) for […]
Enterprises conducting business in the EU are currently analyzing the impacts and organizational changes required to comply with the General Data Protection Regulation that will, from May 2018, redesign the legal framework in privacy. The changes will substantially affect risk management processes and privacy requirements will become essential in product development and IT infrastructure design […]
As informed in previous posts, from 1 of July of 2017, big taxpayers in Spain will be obliged to report invoice data on inbound and outbound invoices to the tax authority under the new SII system. Taxpayers subject to this system must communicate extracted data from issued invoices within four (4) business days following the […]
Last month, Colombia’s Finance Minister, Mauricio Cardenas, officially announced the country’s impending e-invoice mandates in an interview with El Tiempo. Using regional neighbors Chile and Mexico as models, Colombia DIAN is tackling tax evasion and reducing government expenditures through a three-pronged approach that focuses on the implementation of e-invoicing, tighter scrutiny of tax-exempt nonprofit organizations […]