Regulatory Analysis
As announced by the Spanish Ministry of Finance on December 27, 2023, the temporary zero VAT rate on basic food items such as bread, flour, milk, cheese, eggs, fruits, vegetables, legumes, tubers, and cereals has been extended until June 30, 2024. These measures seek to continue making consumer shopping baskets cheaper through the first half […]
Italy officially published the Budget Law for 2024 in the Official Gazette No. 303 of December 30, 2023. The VAT rates applied to supplies of feminine hygiene products and childcare products, such as baby diapers, will increase from 5% to the 10% reduced VAT rate from January 1, 2024. Law No. 213 containing these measures […]
The tax authority, through the Miscellaneous Tax Resolution for 2024, in its transitory provisions, established that taxpayers obliged to issue CFDIs to which the Carta Porte supplement is incorporated, may continue to issue them in its version 2.0, published on February 24, 2023 on the SAT Portal, until March 31, 2024.
On December 24, SUNAT resolution 000042/2023 was published, extending the grace period for the non-application of penalties for infractions related to Electronic Transportation Guide (GRE) The resolution indicates that the subjects required to issue the GRE as of 1 January 2024 require an adaptation period and it is advisable to extend the deadline for compliance. […]
The regulation amending the scope of data included in the JPK_VAT with a declaration (VAT return) in Poland, has now been passed to the Minister of Finance for formal signature. The final version of the regulation from 29 December 2023 has been further changed compared to the initial draft, and its final form does not […]
The draft legislation on 28 December 2023 introducing mandatory B2B e-invoicing in Belgium has been made publicly available and is now awaiting the Belgian Parliament’s approval. After its approval, the e-invoicing mandate is planned to enter into force from 1 January 2026 and impact all VAT-registered taxpayers established in Belgium. The taxable persons who are […]
After the implementation of Romania’s new B2B e-invoicing regulations effective January 2024, the country introduced the Government Emergency Order no. 115/2023 with last-minute amendments. The key amendments resulting from the new legislation can be summarized in 3 categories: 1. Exemptions from the e-reporting and e-invoicing mandate are clarified The following transactions are explicitly exempted from […]
Saudi Arabian Tax and Customs Authority, ZATCA, extended the “Cancellation of Fines and Exemption of Penalties Initiative” until June 30, 2024. This initiative covers fines regarding late registration in all tax systems, late payment, late filing of returns fines in all tax systems, and fines to correct VAT returns, as well as fines for violations […]
In the Serbian Official Gazette no. 116 from 26.12.2023, the regulations introducing certain legislative changes were published, namely: Amendments to the Regulation on uniform technical and technological requirements and procedures for the preservation and protection of archival material and documentary material in electronic form. Amendments to the Regulation on Electronic Invoicing. Amendments to the Regulation […]
The Turkish Revenue Administration (TRA) has recently issued new technical guidelines and updated e-invoicing technical packages in response to the revised e-invoicing rules targeting Charging Network Operations and Charging Station Operators. This development follows the enactment of General Communique No. 550 of the Tax Procedural Law in October 2023, which mandated e-invoicing for licensed Charging […]
As published in the Official Journal of Laws on December 9, 2023, the Polish Ministry of Finance has extended the zero VAT rate on basic food products until March 31, 2024. The temporary zero VAT rate was previously set to expire on December 31, 2023. The regulation can be found here (in Polish).
On January 1, 2024, Estonia’s standard rate of VAT will increase from 20% to 22%. In addition, from January 1, 2025, Estonia plans to increase the rate of VAT on press publications from 5% to 9%, reversing a recent change.
The long anticipated adoption of the tax bill was published in the official gazette on December 11, 2023. Law 5073/2023 (FEK A’ 204) on “Measures for the limitation of tax evasion and other urgent provisions” regulates, among other things, a number of aspects related to myDATA and e-invoicing, namely: The e-invoicing incentives provide to businesses […]
The Ministry of Finance has released technical specifications for the KSeF interface in the test environment. This documentation outlines details about QR codes and their associated verification links, it also clarifies information derived from the draft regulation on the use of KSeF that was published in November. The QR codes serve as visual representations of […]
Following the recent developments in China regarding the Pilot Program for e-Invoicing, whereby the program has been expanded to new provinces and cities in November 2023, the last province of Tibet has now been added to the Pilot Program for issuing fully digitalized electronic invoices (e-fapiao) among selected taxpayers. Therefore, from December 1, 2023, the […]
The Spanish government is pursuing various routes for digitizing tax controls, including introducing software requirements on the billing system. Back in February 2022, a Draft Royal Decree was published establishing invoicing and billing software requirements to secure Spanish antifraud regulations. This ensures that billing software meet the legal requirements of integrity, conservation, accessibility, legibility, traceability […]
India is considering the expansion of its mandatory e-invoicing system to encompass B2C transactions. Currently, B2B transactions are subject to this mandatory e-invoicing, requiring clearance through platforms accredited by the tax authority. Taxpayers exceeding a specific revenue threshold must issue their invoices in compliance with this system. This Continuous Transaction Control (CTC) system is anticipated […]
On December 5, 2023, the Ninth Resolution of Amendments to the RMF 2023 was published in the Official Gazette, entering into force on the day following its publication. The resolution modifies and adds some rules related to the requirements for the application of fiscal incentives established in various Decrees. The most relevant points in terms […]