Blog

Turkey: The Significance of Effective E-transformation for Enterprises

Digitization has become more prevalent, especially because of COVID-19. Companies looking to improve efficiency via digital transformation are taking advantage of the benefits tax technologies can provide their business processes. Although they’re not within Turkey’s e-invoicing mandate scope, companies have been using e-document applications as part of their operational processes to save time, costs and […]

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The Four Tax Reporting Trends SAP Customers Need to Know

The digitization of tax authorities has come a long way since its beginnings in 2003. Tax administrations have realised the benefits that technology can bring to VAT reporting. Countries around the world have adopted continuous transaction controls (CTCs) and e-invoicing, with new tax administrations joining the trend every year. There are four trends that all […]

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The Importance of Cloud-Based Technologies in E-Transformation Processes

Digital transformation continues to evolve and develop, introducing new solutions and cloud technologies for enterprises around the world. These technologies provide flexibility, agility and reduce operational costs for the companies. Advantages of cloud-based technologies Moving to cloud-based technologies provides many advantages including quality, increased efficiency, and profitability. It’s important to work with a service provider […]

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Croatia’s fiscalization system: Cash transaction monitoring made easier

Croatia was one of the first countries in the world to introduce a real-time reporting system for cash transactions to the tax authority. Known as the online fiscalization system, new requirements have been introduced to improve tax controls for cash transactions. Croatia’s online fiscalization system The system aims to combat retailer fraud by providing the […]

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What is the Tax Fallout from Brexit? 3 Questions for 3 Experts

Brexit continues to create a stir and the only absolute is that confusion dwarfs certainty when it comes to understanding the new tax laws that went into effect when Brexit became a reality. To address some of the more pressing questions, we gathered three industry experts for a webinar to provide some clarity into this […]

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Norway’s New 2022 VAT Return: Detailed and Digital

The Norwegian tax authority’s project for modernising VAT, the MEMO-project, has announced a new digital VAT return. It will take effect from the beginning of 2022 following a pilot program in August this year. This new VAT return seeks to provide simplification in reporting, better administration, and improved compliance in the VAT system. Currently VAT […]

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How to Manage E-Transformation Projects When Deadlines are Set by Government Agencies

When managing any e-transformation project the deadline is determined after careful planning. It should be based on the project scope and consider the available resources. However, when the project is to ensure regulatory compliance, the government determines the project’s deadline and it must be met. Many taxpayers choose to work with an external integrator to […]

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Albania: Updated CTC System Roll-out Timeline and Further Details Published

Following the introduction of ‘fiscalization’, Albania’s Continuous Transactions Controls scheme (CTC), in early 2020, the Albanian government published more information about the CTC system and in late 2020 updated the roll-out timeline. During 2020, the Albanian government published a series of secondary legislation about different elements of the CTC scheme. The Albanian CTC scheme is […]

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Are New VAT Rate Freedoms Coming for EU Member States in 2022?

The EU is re-considering plans to give its Member States more freedom to determine which goods and services should be subject to reduced rates in their territory. The proposed changes would also allow Member States the opportunity to apply a third reduced rate. Current VAT rate system Currently, the EU VAT Directive gives national governments […]

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Turkish Revenue Authority Publishes New Rules for e-Documents

Back in July 2020, the Turkish Revenue Authority (TRA) published a Draft Communique including several amendments to existing e-document regulations. Very recently, on 9 February 2021, the Draft Communique amendments were implemented into a new Communique, amending General Communique (‘Amending Communique’) with some changes, exemptions and additional provisions. Let´s take a closer look at the […]

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Facts to know about the 2021 e-document transition in Turkey

2020 was significant for the mandatory transition to e-transformation applications following the General Communique issued by the Turkish Revenue Administration (TRA). 2021 will be a year of mandatory transition to various e-documents for taxpayers. Who must use e-invoice from 2021? Taxpayers with gross sales revenue of TRY 5 million and above in 2020 and all […]

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HM Treasury Calls for Evidence on VAT Challenges of the Sharing Economy

HM Treasury recently published a call for evidence on VAT and the Sharing Economy. The aim is to test the government’s assessment of VAT challenges created by the Sharing Economy and to explore next steps. The consultation document defines the Sharing Economy as “an accessibility-based socio-economic model, typically enabled or facilitated via advanced technological solutions […]

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Turkey: How Tax Technology is Improving Company Efficiency

Digital transformation will continue to be a business priority for years to come. Efficiency is still one of the primary issues that companies want to improve and the digitization of many business processes is helping to increase efficiency, reduce errors and ensure compliance. Technology is helping to transform departments, including tax. The benefits of tax […]

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OECD on Digital Service Tax: What’s Ahead for 2021?

The challenge of how to fairly tax the digital economy was identified in the OECD’s BEPS initiative as ‘Action 1: Addressing the Tax Challenges of the Digital Economy’. The standard rules in place today do not capture certain business models that make profits from digital services in a country without being physically present. This has […]

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What to Consider When Changing E-Transformation Service Provider in Turkey

In today’s business world, it’s common for companies to use third party providers. This includes for activities such as regulatory integrations, with organizations using third parties to assist with the processing and submitting of electronic records in Turkey including e-invoice, e-ledger, e-arşiv invoice and e-delivery note on behalf of the taxpayer in compliance with the […]

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European Commission Proposal of VAT Reforms for Financial and Insurance Services Explained

We recently shared news of the European Commission (EC) opening a feedback period concerning an initiative to review VAT rules for financial and insurance services. The feedback period has now ended, and a public consultation period is set for the first quarter of 2021. The consultation will gather stakeholders’ views on the current VAT treatment […]

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Egypt’s Tax Digitization Continues

Scope of mandatory e-invoice clearance extended The global trend of Continuous Transaction Controls (CTCs), having spread from Latin America to Europe and more recently to Asia, is now increasingly gaining popularity in Africa. Egypt is modernizing its tax control system, and one of the most important elements of this is implementing the digital processing of […]

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Turkey’s Digital Tax Transformation: What is E-Arşiv Invoice?

Companies have begun to transfer financial processes to the digital environment as a result of technological developments in recent years. Business efficiency has increased through the financial processes regulated via e-transformation applications. The e-transformation system in Turkey covers applications such as e-invoice, e-ledger, e-arşiv, e-ticket, e-reconciliation, and e-delivery note. Mandate scope of e-arşiv invoice According […]

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