Update: 8 March 2023 South Korea has recently approved a tax reform which introduces several measures for 2023, among which is the possibility of issuance of self-billing tax invoices. This tax reform amends the current VAT law to allow the purchaser to issue invoices for the supply of goods and services. However, this will only […]
Northern European Jurisdictions: CTC Update The European Commission’s VAT in the Digital Age (ViDA) proposal continues to unfold with the latest details published on 8 December 2022. As a result, many EU countries are stepping up their efforts towards digitising tax controls – including mandatory e-invoicing. While we see different approaches to initiate this transition […]
Update: 14 March 2023 by Enis Gencer Israel closer to introducing continuous transaction controls (CTCs) in tax system Israel’s government approved the 2023-2024 budget on 24 February 2023 to introduce a continuous transaction control (CTC) model in its tax system. This long-awaited move will have significant implications for businesses operating within the country. It is essential to know […]
Update: 14 March 2023 by Edit Buliczka Poland: New Ombudsman Charge introduced for 2023 Although Poland still lacks an Insurance Premium Tax (IPT) system, there are various other taxes and fees in the country. The Insurance Ombudsman Charge (IOC) implemented in 2014 is one of the most well-known parafiscal charges. As of January 2023, the […]