Blog

Portugal‘s New E-Invoicing Rules Impact Archiving and Reporting

Beyond the implications outlined in our last blog, Decree-Law 28/2019 (the Decree-Law)  impacts areas beyond invoicing, introducing modifications to both archiving and the reporting of tax data. Mandatory electronic archiving A novelty of the Decree-Law is the explicit introduction of an obligation to archive electronic invoices in electronic format which in turn further promotes the […]

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Portugal Issues New E-Invoicing Rules: A Flavour of Clearance but Not Quite There

On 15 February 2019, Portugal published Decree-Law 28/2019 regarding the processing, archiving and dematerialisation of invoices and other tax related documents including: The mandatory use of certified invoicing software General requirements for paper and electronic invoices Dematerialisation of tax documentation Archiving of tax documentation (including ledgers, etc) Adjacent tax rules and obligations The decree aims […]

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Italy: Is a Last-Minute Moratorium on E-invoicing Fines on the Horizon?

There is no doubt that the roll out of the Italian clearance e-invoicing mandate has kept the e-invoicing market and local taxpayers on their toes. Compliance with the mandate’s legal and technical requirements is not an easy task to fulfil. Consequently, taxpayers of different sectors of the economy, as well as different stakeholders of the […]

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Mandatory E-invoicing in Greece: What to Expect

More than six months ago the Greek authorities announced their intention to introduce mandatory e-invoicing and e-bookkeeping rules, and enough information is now available to assess what the proposed rules will mean for Greece. Although formal legislation has yet to be published, it’s expected the new e-invoicing measures by the Independent Public Revenue Authority, the […]

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Italy Postpones Some Electronic Invoicing Penalties But Mandate Rollout Continues

Companies struggling to meet Italy’s electronic invoicing deadline of January 1 will get some relief from financial penalties if they can’t immediately issue invoices at the moment of supply, but it seems the Italian Tax Authority will not delay rolling out the system. The government had stated that invoices that did not comply with the […]

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Use Your HANA Migration to Solve Your Tax Challenges for Good

Companies dealing with complex sales and use tax determination, VAT regulations and other tax challenges across the globe know that SAP alone is not equipped to support the varying requirements from country to country. As SAP sunsets support and updates for ECC and R3, companies must move to HANA to keep their systems up to […]

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Split Payments: New VAT Collection Mechanism in the European Union

Countries within the European Union (EU) are losing billions of euros in value-added tax (VAT) every year because of VAT fraud, VAT evasion, VAT avoidance and inadequate tax collection systems. As of 2016, the VAT gap in the EU was 159.5 billion euros, or 14% of the total expected VAT revenue for the EU. As […]

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A Guide to CRS Reporting Requirements for Insurance Companies

The Common Reporting Standard (CRS) is fast becoming the global standard for tax information reporting outside the United States. As more countries adopt CRS, and as penalties for late, incorrect or missed CRS filings become more severe, financial institutions need to know what their compliance requirements are. The following are clarification and detail about what […]

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FAQ – Mexico SAT Lessons Learned from Complemento de Pagos

On May 2, 2017, we held a webinar titled “Mexico SAT Lessons Learned from Complemento de Pagos” and we would like to share with you some of our most frequently asked questions around Mexico’s upcoming mandate.  The Complemento de Pagos requirement is newly mandated by the tax authorities in Mexico requiring companies to generate a […]

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The Mexican Value Added Tax (IVA) System: A General Overview (Part I)

Overview The main indirect tax of Mexico is the Value Added Tax (locally known as IVA), which generally applies to all imports, supplies of goods, and the provision of services by a taxable person unless specifically exempted by a particular law. The tax is imposed by the federal government of Mexico and ordinarily applies on […]

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Mexico CFDI and Contabilidad Electronica (eAccounting) – The Basics Explained

CFDI, which stands for Comprobantes Fiscal Digital por Internet, is the electronic billing schema defined by the Mexican federal tax code. It has been mandated for companies doing business in Mexico since 2011. The goal of CFDI is added visibility into companies’ tax liabilities, so that the government can ensure it is receiving accurate payments, […]

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