Japan’s Tax System
Japan’s Tax System Japan’s Tax System Starting with the introduction of a multiple tax rate system in 2019, Japan is in the middle of a
Region: Asia Pacific
Electronic Invoicing
Philippines’ CTC E-Invoice Reporting System is Officially Live
The Philippines continuous transaction controls (CTC) Electronic Invoicing/Receipting System (EIS) has been officially kicked off for the 100 large taxpayers selected by the government to
China: The scope of the pilot program for the fully digitized e-invoice keeps expanding
The Shanghai Taxation Bureau released a notice to inform that from June 25, 2022, the Xuhui District is included in the pilot program for the
Indonesia’s E-Invoicing System
Indonesia’s VAT requirements Indonesia’s e-invoicing system and continuous transaction controls After experiencing challenges in its tax control system, Indonesia’s e‑invoicing system, locally known as e‑Faktur,
Israel’s CTC Reforms and e-Invoicing Tax Changes
Israel e-invoicing Israel is set to implement a continuous transaction controls (CTC) model that will require businesses to submit invoice data in electronic format for
Thailand Electronic Invoicing New Regulations
Thailand’s New Approach to Electronic Invoicing New regulations for e-tax invoicing and receipts expected soon. Thailand’s current e-invoicing legal framework has been in effect since
Electronic Invoicing
United States, Australia and New Zealand: E-Invoicing Reforms
The global trend in the e-invoicing sphere for the past decade has shown that legislators and local tax authorities worldwide are rethinking the invoice creation
Vietnam’s New E-Invoicing System Launches 2022
Vietnam’s E-Invoicing Launch Introducing e-invoicing mandates for VAT in Vietnam. Over the last 10 years, the Vietnamese government has worked on developing a solution to
Philippines VAT Requirements
Philippines VAT Requirements VAT in the Philippines There have been improvements in recent years to VAT revenue collection in the Philippines, but there are a
China’s E-invoicing Expansion
China’s E-Invoicing Expansion The move to customer facing e‑invoices grows in China. China’s VAT digitization journey began nearly two decades ago with the rollout of
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
South Korea Expands Mandatory E-invoicing Scope
In South Korea, e-invoicing has been mandatory for all corporate businesses since 2011. From 2012, individual businesses (entrepreneurs) have also been required to comply with
ebook: Managed Services for VAT Compliance
Sovos’ end-to-end, technology-enabled VAT Managed Services can ease your compliance workload and mitigate risk where-ever you operate today, while ensuring you’re ready to handle the VAT requirements in the markets you intend to dominate tomorrow.
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
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
Tax Compliance
Indirect Tax Rules for Insurance Across Europe
Many tax authorities are increasing their focus on the insurance industry in an effort to close tax revenue gaps, with many introducing Insurance Premium Tax (IPT) and other indirect taxes for insurance. Globally, IPT is fragmented across over 200+ countries and achieving compliance can be a complex process requiring specialist knowledge.
Trends 13th Edition 2022
Welcome to the 13th edition of Sovos’ annual Trends report where we put a spotlight on current and near-term legal requirements across regions and VAT compliance domains.
Chinese e-invoicing pilot extended to Shanghai as of December 2021
The Chinese e-invoicing pilot program, which has gradually been expanded in its new form since January 2021, has now welcomed a new batch of cities