Blog

Latin America: An Update on E-Invoice Requirements

In the field of global e-invoicing and tax control, most eyes have been focused on trailblazing initiatives in Asia, as countries such as India, Vietnam and Thailand look set to introduce new reforms in this area. However, even in the home of mandatory digital tax controls – Latin America – where mandatory clearance of B2B […]

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Turkey’s Transition Conditions for E-ledger

On October 19, 2019, the Turkish Revenue Administration (TRA) published a communique making the e-ledger application mandatory for e-invoice users, companies subject to an independent audit, and companies identified by the Presidency to have poor tax compliance.  The e-ledger application enables businesses to create the legally mandated general journals and ledgers and submit e-ledger summary […]

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Albania’s New Tax Reform: Fiscalization

Following the trailblazing efforts by countries such as Italy, Hungary and Spain, this past year has seen an increase in European countries announcing digital tax control reforms. Earlier this year, Albania joined the ranks of France and Poland by announcing the introduction of a continuous transaction controls (CTC) system, called fiscalization. This scheme requires clearance […]

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Deadline Looming for Turkey’s E-delivery Note Mandate – are you Ready?

Following the successful implementation of the e-invoicing mandate that has gradually expanded its scope, Turkey introduced a new mandate to track the movement of goods in a more technology-efficient way. Like many other countries, Turkey has already been able to retroactively track the movement of goods by obliging taxpayers to issue delivery notes. Having seen […]

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E-archiving for VAT: Compliance in a Digital World

Compliant archiving of original invoices and similar tax-relevant documents has long been overlooked. As companies gradually made the move to digitize existing paper processes, invoicing became a prime area for transformation into e-invoicing. However, requirements for long-term electronic archiving in traditional tax law were not always adapted in time to reflect the specific challenges of […]

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Finland Expands Adoption of E-Invoicing

Finland’s government already receives over 90% of invoices electronically. Aiming to expand the use of e-invoices in B2B transactions, the country has granted B2B buyers the right to receive a structured electronic invoice from their suppliers if requested. The scheme applies to all Finnish companies with a turnover above €10,000 and came into force on […]

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Vietnam’s E-invoicing Mandate – Delayed Until 2022

The Ministry of Finance in Vietnam recently presented a draft decree to the Prime Minister for ratification, indicating that the go-live date for mandatory e-invoicing in the country will be delayed from 1 November 2020 to 1 July 2022. This proposed delay is in response to difficulties encountered by local companies to implement a compliant […]

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Turkey Publishes Storage Guidelines for E-Ledger

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 […]

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Israel on the road to Continuous Transaction Controls (CTCs)

With the long-lasting problem of fictitious invoices in Israel, a move towards some form of mandatory e-invoice clearance might be the answer. After having been withdrawn once due to failing support, the idea of a Continuous transaction control (CTC) model is being revived by the Israeli tax authority. The proposed model, similar to Chile, would […]

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Turkey  postpones  submission deadlines of e-ledgers due to COVID-19

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 […]

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India Amends E-Invoicing Rules

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 […]

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Beyond Tax Reliefs: The Impact of Covid-19 on E-Archiving

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 […]

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B2B Transaction Automation Platforms: Quantifying the VAT Compliance Advantage

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 […]

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Turkey’s Digital Transformation and E-Invoicing Landscape

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 […]

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Greece Delays myDATA Mandate

New go-live date 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 the postponement. More […]

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Poland’s Next Step After SAF-T – Centralized E-Invoice

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 […]

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INDIA: E-Invoicing Reform Postponed Until 1 October 2020

With roughly two weeks to go until the first mandatory phase of the Indian 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 […]

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Italy Publishes New Specifications for the FatturaPA

Anyone predicting Italy’s clearance model e-invoicing system,  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 […]

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