Electronic Invoicing
Don’t Take Chances with Government Mandated E-invoicing
According to research firm Gartner, IT spending will reach an estimated $4.5 trillion in 2022. This represents a 5.1% increase as compared to 2021. This
Category: Electronic Invoicing
Electronic Invoicing
Why IT is Now on the Frontlines of Ensuring Continuous Commerce for Businesses
In today’s global and digital world, organizations are continually having to adjust to the challenges posed by government mandated e-invoicing. With governments continually leveraging technology
Electronic Invoicing
VAT in the Digital Age: Part II – VAT Reporting and E-invoicing
The European Commission’s “VAT in the Digital Age” initiative reflects on how tax authorities can use technology to fight tax fraud and, at the same
Electronic Invoicing
Belgium Expands B2G Mandatory E-Invoicing – Will B2B Come Next?
In November 2021, a Draft Royal Decree was published by the Chancery of the Prime Minister of Belgium, aiming to expand the scope of the
Electronic Invoicing
European Parliament Recommends Harmonising E-invoicing Across the EU
On 10 March, the European Parliament (EP) adopted a Resolution to the Commission’s Action Plan on fair and simple taxation supporting the recovery strategy, which
Electronic Invoicing
Poland’s E-Invoicing System: Latest Developments
Poland has been moving towards introducing the CTC framework and the system, the Krajowy System e-Faktur (KSeF), since early 2021. As of 1 January 2022,
Electronic Invoicing
Australia Boosts B2B E-invoicing
Unlike many other country initiatives that we have seen in the e-invoicing space recently, Australia does not seem to have any immediate plans to introduce
Electronic Invoicing
India Expands E-invoicing Scope From 1 April 2022
On 24 February 2022, the Indian Central Board of Indirect Taxes and Customs (CBIC) issued a notification (Notification No. 01/2022 – Central Tax) that lowered
Electronic Invoicing
Spain: New Invoicing and Billing Software requirements
Update: 7 December 2023 by Carolina Silva Spain Establishes Billing Software Requirements The long-awaited Royal Decree, establishing invoicing and billing software requirements to secure Spanish
Electronic Invoicing
South Korea Expands Mandatory E-invoicing Scope
South Korea has an up-and-running e-invoicing system that combines mandatory e-invoicing with a continuous transaction controls (CTC) reporting obligation. This mature and well-established system, launched
Electronic Invoicing
Vietnam: E-invoicing Roll-Out in July 2022
During the last decade, the Vietnamese government has been developing a feasible solution to reduce VAT fraud in the country by adopting an e-invoice requirement
Electronic Invoicing
Saudi Arabia: ZATCA Announces Revised Penalties for Non-compliance with VAT and E-invoicing Rules
On 30 January 2022, the Zakat, Tax and Customs Authority (ZATCA) published an announcement on its official web page concerning penalties for violations of VAT
Electronic Invoicing
Turkey Expands Scope of E-Documents
Towards the end of 2021, the tax authority in Turkey published a draft communique that expands the scope of e-documents in Turkey. After minor revisions,
Electronic Invoicing
China Introduces Fully Digitized E-Invoice with New Pilot Program
The Tax Bureaus of Shanghai, Guangdong Province and Inner Mongolia Autonomous Region have all issued announcements stating they intend to carry out a new pilot
Electronic Invoicing
Latest Updates in Romania: B2B E-invoicing Mandate for High-risk Products and E-transport System
With the most significant VAT gap in the EU (34.9% in 2019), Romania has been moving towards introducing a continuous transaction control (CTC) regime to
Electronic Invoicing
Eastern Europe: The Rise of CTCs
In a blog post earlier this year, we wrote about how several Eastern European countries have started implementing continuous transaction controls (CTC) to combat tax fraud and
Electronic Invoicing
Poland’s E-Invoicing Reform: Overview of KSeF System
Since earlier this year, when the first draft continuous transaction controls (CTC) legislation was published in Poland, there’s been good progress in the development of
Electronic Invoicing
The Future of E-Invoicing in Europe
Several EU Member States have been introducing continuous transaction controls (CTCs), aiming to close their VAT gaps, increase revenue and have more control over the