News
Romanian E-Transport System Details Announced
Governments throughout the world are introducing continuous transaction control (CTC) systems to improve and strengthen VAT collection while combating tax evasion. Romania, with the largest
Category: Value Added Tax
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
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
Tax Compliance
UK – April VAT Updates
Making Tax Digital for VAT – Expansion Beginning in April 2022, the requirements for Making Tax Digital (MTD) for VAT will be expanded to all
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
Tax Compliance
Five Tips for Stress-free IPT Registrations
Registering for Insurance Premium Tax (IPT) with tax authorities across Europe can be challenging and complex, particularly when multiple territories are involved. There are many
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,
Value Added Tax
Is IT Leading the Global Transformation of E-invoicing?
Governments throughout the world are implementing government mandated e-invoicing for its ability to facilitate compliance and track fraud quickly and efficiently. Driven by the continual
Tax Compliance
Pre-Filled VAT Returns: The State of Play in 2023
Update: 22 January 2024 by Tânia Rei Pre-Filled VAT Returns: Updates in 2024 In recent years, tax authorities worldwide have embraced digital transformation to streamline
Tax Compliance
Optimizing Supply Chain Management: Key B2B Import Considerations
Many businesses will now be involved in “cross border” transactions meaning that a business in one territory will sell and, often, deliver goods to a
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
Value Added Tax
VAT in the Digital Age: A Single EU VAT Registration
In 2020, the European Commission (EC) adopted a four-year plan to develop a fairer and simpler taxation framework. The Action Plan aspires to tighten up
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
Value Added Tax
Customs Changes for Imports from the European Union into the UK
Whilst the UK leaving the European Union (EU) on 31 December 2020 seems like a long time ago, UK businesses still have to deal with