Regulatory Analysis
On August 30, 2023, the German Federal Government approved the draft act (Growth Opportunities Act) published by the Ministry of Finance (BMF) on July 14, 2023, which includes, among others, the introduction of the nationwide B2B e-invoicing mandate. This marks the onset of the legislative process for the adoption of the draft act by the […]
ANAF updated the return D300 in response to the enactment of Law 88 from April, 2023. This legislative amendment introduced VAT exemptions with right of the deduction to construction services supplied to hospitals, as well as certain supplies of medical equipment and orthopedic products. To align with the new amendment, the revised D300 requires taxpayers […]
On August 4, 2023, the Polish President signed an Act amending the VAT Act and certain other laws which introduces mandatory e-invoicing via KSeF. This means that the e-invoicing mandate will enter into force on July 1, 2024, without any further postponements. The press information can be found here and the official announcement from the […]
The Ministry of Finance published a draft regulation amending the regulation on the use of KSeF from December 27, 2021, which is applicable to the voluntary phase of the e-invoicing system via KSeF. The draft regulation is open to public consultation until August 18, 2023, for businesses to submit their comments. The amended regulation on […]
The Ministry of Finance published an updated API for the test environment in KSeF (National E-Invoicing System) which supports both FA(1) and FA(2) schemas. From July to August 2023, both schema versions, meaning both FA(1) and FA(2), will apply in the KSeF test environment. The official announcement can be found here: API KSeF dla środowiska […]
The Act on Guarantee Fund for Non-Life Insurance Companies, executive order no. 2067, has been amended recently by Act no. 480. The main change is that the scope of insurance companies liable to make contributions to the Guarantee Fund in Denmark has been extended to include life insurers writing occupational accidental insurance / industrial injury […]
On 31 July 2023, the French authorities published an updated version of the ‘External specifications file for electronic invoicing’, version 2.3, currently available only in French. The version 2.3 introduces new chapters and removes use case explanations which are now published as a separate new document. It also updates annexes which are attached as Excel […]
On 17 July 2023, the cabinet of the Belgian federal government failed to reach an agreement on the broader tax reform announced by the Minister of Finance, Vincent Van Peteghem on 2 March 2023, which aimed to introduce among other tax measures, the general obligation for B2B e-invoicing and e-reporting to reduce the country’s VAT […]
On July 28, 2023, the Sejm voted against the Senate’s veto which blocked the draft legislation introducing the national e-invoicing system, KSeF, on the grounds of it being unconstitutional. Following its adoption by Sejm and pursuant to the draft legislation, the e-invoicing obligation will come into force, as planned, on July 1, 2024, with some […]
France is in the process of implementing a Continuous Transaction Controls (CTC) system which introduces mandatory e-invoicing for domestic B2B transactions and e-reporting obligations. On July 28, 2023, the Directorate General of Public Finances announced that the roll-out date of the mandate is postponed in order to give the necessary time for taxpayers to comply […]
The European Commission (EC) authorized Germany to introduce special measures regarding mandatory electronic invoicing with its decision dated July 25, 2023. Germany plans to implement mandatory e-invoicing for domestic B2B transactions. According to the decision of the EC, Germany received the derogation from the VAT Directive from January 1, 2025, to December 31, 2027, or […]
The European Commission (EC) authorized Romania to introduce special measures regarding mandatory electronic invoicing with its decision dated July 25, 2023. Romania plans to implement mandatory e-invoicing for B2B transactions. According to the decision of the EC, Romania received the derogation from January 1, 2024, to December 31, 2026, or until the national transposition of […]
Cyprus published The Value Added Tax (Amendment) (No. 3) Law of 2023 in the Gazette on July 21, 2023. Effective immediately, the Amendment introduces a 3% reduced VAT rate on several items previously subject to a reduced rate of 5%, including print publications, orthopedic devices, and street cleaning services. The published Amendment can be found […]
On 14 June 2023, the government bill Tax Amendment Act 2023 – AbgÄG 2023 was approved amending The Insurance Tax Act 1953. The amendment enables third country domiciled insurance companies to register and settle Insurance Premium Tax (IPT) liabilities directly with the Austrian tax authority. Previously it was the responsibility of the policyholder or an […]
The German Federal Ministry of Finance has made draft amendments to Value Added Tax Law (Umsatzsteuergesetz, “UStG”) in order to implement mandatory e-invoicing. In April 2023, The German Federal Ministry of Finance sent a discussion proposal for the introduction of mandatory B2B e-invoicing to significant German business associations, asking for input. In June 2023, the […]
Portugal has officially postponed the mandatory B2G electronic invoicing obligation for small, medium and microenterprises, once again. Although B2G e-invoicing became mandatory for SMEs on 1 January 2023, the Law Decree no. 54/2023 postpones the obligation granting taxpayers a new deadline for compliance. The postponement was announced during the Press conference of the Council of […]
The project teams within the Ministry of Finance working on the development of the Fiscalization 2.0 system in Croatia, have been in touch with the Italian and French e-invoicing experts to hear their experiences from the implementation of these two countries’ CTC systems. The Ministry could be inspired by one or a combination of the […]
From July 1, 2023 non-resident sellers of goods will have to collect 5% GST on sales of goods to customers located in the Bailiwick of Jersey. Retailers who make or expect to make annual sales of goods to non-business consumers of £300,000 or more are required to register for GST. Note that governmental guidance, available […]