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
Region: Asia Pacific
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
Electronic Invoicing
Understanding E-Commerce Tax Legislation in Asia Pacific
The global e-commerce market continues to transform in today’s digital world. E-commerce transactions consist of a variety of digital services and products such as software,
Philippines: Go-live of e-invoicing system postponed to July 2022
A new timeline for the go-live of the Philippine e-invoicing system (EIS) was announced at the webinar held by BIR today on the 12th October.
Saudi Arabia – E-Invoicing
Saudi Arabia – E-Invoicing Saudi Arabia leads the way to continuous transaction controls in the Gulf Saudi Arabia e-invoicing from December 2021 Saudi Arabia introduced
Electronic Invoicing
Asia E-invoicing: New Developments in the Region
Having originated in Latin America, the next region set to embrace continuous transaction controls is Asia. Several jurisdictions in the region have announced their intent
INDIA: QR code requirement for B2C invoices has been deferred once more
Ever since the introduction of mandatory e-invoicing in India, B2C transactions have been excluded from the scope of mandatory e-invoicing. For these transactions specifically, there
Electronic Tax Invoices South Korea
South Korea’s Long Standing e-Tax Invoice System South Korea E-Invoices South Korea introduced its Electronic Tax Invoice System i.e. e-Tax in 2010. Since 2011, this
E-Transformation Turkey
What is Turkey’s E‑Transformation? While many governments and tax authorities are now on an e-Transformation journey, this trend began in Latin America in the early
E-Invoicing India
E-Invoicing India: All You Need to Know India E-Invoicing Requirements Under the new Goods and Services Tax (GST) framework, the Indian e-invoicing system falls under
Value Added Tax
The VAT Evolution and Why It’s So Complex Part III: Why Global Solutions Matter to IT
In Part I of our series on the VAT Evolution, we explored the motivations of tax authorities and governments around the world to embrace digitization
Russia is introducing partially mandatory e-invoicing from 1 July 2021
Russia is introducing a new system for traceability of certain goods that will come into effect on 1 July 2021. Federal Law No. 371-FZ will
Tax Compliance
Audio Blog: Saudi Arabia: The Gulf’s CTC Pioneer
Saudi Arabia will start its introduction of a new e-invoicing system from 4 December 2021. The mandate will require all taxable persons residing in the