Blog

China Adopts Pilot Programme for B2B E-Invoices

In September, the Ningbo Municipal Taxation Bureau (NMTB) of the State Taxation Administration (STA) announced a pilot programme enabling selected taxpayers operating in China to issue VAT special electronic invoices on a voluntary basis. China’s VAT invoices China has two types of VAT invoices:  VAT special invoices and VAT general invoices. The first type may […]

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India – New E-Invoicing Deadlines Announced

After a roller-coaster period, full of changes and updates, India’s e-invoicing reform went live on 1 October this year. This e-invoicing reform is considered to be the second biggest tax development in the country after the introduction of Goods and Services Tax (GTS) in 2017. The Indian authorities chose to go ahead with implementing the […]

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Greece last-minute change: myDATA now live as pilot for 2020

On the actual go-live date of the Greek myDATA reporting framework, the Greek authorities published a decision introducing last-minute changes. After having evaluated the preparedness of businesses as a result of Covid-19 they decided to provide taxpayers in scope with additional relief by recategorizing the roll-out of myDATA to a voluntary pilot program for 2020. […]

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Indian E-invoicing Reform Now Live With Last-Minute Relief From Government

The Indian e-invoicing mandate is live from today. Even though there was significant public pressure to postpone the 1 October deadline, the set date remains the same and the initial phase has started for taxpayers with an annual aggregate revenue of 500cr. rupees or more during any financial year after 2017. Even though the mandate […]

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India Delays B2C Requirements from 1 October Go-Live

The weeks leading up to the 1 October go-live of the Indian CTC reform have been marked by  growing voices echoing concern about whether this is the right time for such fundamental change, and asking if the underlying government infrastructure indeed is robust enough. Several industry associations such as the Confederation of GST Professionals and […]

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Audio Blog: India: Changes to the Proposed E-Invoicing System

India: Changes to the Proposed E-Invoicing System India is about to launch a number of significant changes to its e-invoicing system. For a brief overview of the changes, Sovos’ Harriet Vivian sat down with regulatory expert Selin Ring to preview the changes and discuss the potential impacts on business as these programs are rolled out […]

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India’s E-Invoicing Reform: The Clock is Ticking

Taxpayers are only two weeks away from the initial start of India’s e-invoicing reform. Even though the continuous transaction controls (CTC) invoicing system was officially first introduced in December 2019, there have been many changes and updates from the GSTN. In addition to changes announced in July which affected the schema and scope for India’s […]

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Turkey Amends the General Communique

The Turkish Revenue Authority (TRA) continues to innovate digital tax controls, most recently by introducing a new document type among other changes. They recently published a Draft Communique including several amendments to existing regulations which were opened up for public consultation. The General Communique on the Tax Procedural Law (General Communique), which this recent draft […]

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Impact of Greek Tax Reform on E-Invoicing

With the 1 October go-live date for myDATA, the first Greek implementation of Continuous Transaction Controls (CTC), fast approaching, legal clarity around the broader tax reform should ideally be close to completion. Greece’s tax reform is expected to not only cover CTC reporting but also e-invoicing.  So far, however, we have only seen fragmented documentation […]

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Portugal: New Unique ID Number and QR Code Regulations Bring Challenges

As anticipated, further information has been published by the Portuguese tax authorities about the regulation of invoices. Last weeks’ news about the postponement of requirements established during the country’s mini e-invoice reform, and the withdrawal of a company’s obligation to communicate a set of information to the tax authority, culminated in the long-waited regulation about […]

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TRA Updates E-Delivery Note Application Guidelines

Issuing e-delivery and printed delivery notes together The article (Article 15.5), which was quite confusing in the initial version of the guideline, is now much clearer. If an e-delivery note can’t be issued in the location where the shipment is initiated e.g. the delivery truck, it may be issued within the company. However, a printed […]

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Portugal: Details on the QR Code and UUID Expected

In February last year, the Portuguese government published the Law Decree 28/2019 rolling out changes affecting e-invoices. The goal of the Law Decree is to simplify and consolidate pieces of law that are scattered around the Portuguese legal framework. However, the effectiveness of many of those rules is still dependent on further regulation, such as […]

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India: Last-Minute Changes to the Proposed E-Invoicing System

The October deadline is fast approaching for the Indian CTC invoicing mandate, but it remains a moving target. In a swift move that was published just two months prior to go-live, authorities have now changed the scope of who is affected by the reform, as well as updated the JSON format. Why the change? The […]

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Cancellation and Refund Policies for E-Invoice and E-Arşiv Invoice

Taxpayers with annual gross sales of TRY 5 million and above are obliged to use e-invoice or e-arşiv invoice from 1 July 2020. Although the e-invoice has the same qualities as a paper invoice, there are occasions where it should be treated differently such as for cancellations and refunds. What is a refund invoice? A […]

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Asia: E-invoicing Developments Across the Region

The world has witnessed how several Latin American countries have successfully adopted e-invoices to replace paper versions and close VAT gaps – the difference between the revenue governments are entitled to receive and what they de facto manage to collect.    The positive effects of mandatory e-invoicing regimes, such as achieving simplification of the invoicing […]

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Turkey: Penalties for Noncompliance with the Mandatory Electronic Document Framework

For rules to carry any real weight, the rule-maker must combine compliance with that rule with either a carrot or a stick. In the field of tax legislation, the rule-maker, in this case, the legislator or the tax authority, almost always goes down the route of the stick in situations of noncompliance. And the penalties […]

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Greece: myDATA law is published as e-invoicing incentives are released

myDATA updates On 22 June, the joint Ministerial Decision that sets forth the myDATA framework was published. The decision specifies, among other things, the scope of application and applicable exemptions, the data to be transmitted, transmission methods and procedures, applicable deadlines and how transactions should be characterized. Starting from January 2021, the required data must […]

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Industry First: Businesses and Government Partner on New Digital VAT Compliance Principles

For the first time in history, international business and governments have come together. Their aim was to define and agree a guiding set of principles for tax compliance in a world where continuous tax controls (CTCs) are becoming the norm.  The International Chamber of Commerce‘s (ICC) executive board has now formally approved the first set […]

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