Regulatory Analysis
Following the postponement of the 2025 budget bill from December 2024, on 15 February 2025, the Act on Finance for 2025 has been published in the French National Gazette. For insurance Premium Tax (IPT) there are two notable measurements in this Act: 1.) Higher rate for fire insurance premium A 12% rate is introduced for […]
The United Kingdom’s HM Revenue & Customs (HMRC) and the Department for Business & Trade have launched their highly anticipated public consultation on promoting electronic invoicing across UK businesses and the public sector. This consultation marks a significant move toward modernizing business practices and enhancing digital transformation in the country’s economy. The purpose of this […]
The European Parliament has approved the VAT in the Digital Age (ViDA) proposal, bringing it one step closer to official adoption. The proposal will now head to the Council of the EU for final approval, marking a key step in the effort to modernize VAT systems throughout the European Union. ViDA is a tax reform […]
The Saudi Arabian Tax and Customs Authority (ZATCA) announced the 20th wave of Phase 2 of the e-invoicing initiative. The 20th wave includes taxpayers whose revenues subject to VAT exceeded (SAR 1. 5 Mn) (approximately USD 399K) during 2022 or 2023. Taxpayers within this group are expected to integrate with the system as of October 31, 2025. Phase 2 of the e-invoicing […]
The Ministry of Finance in the UAE announced on 6 February 2025 the launch of a Public Consultation on eInvoicing. This initiative aims to gather feedback from stakeholders on the proposed eInvoicing data requirements, ensuring transparency and alignment with industry needs. The Ministry of Finance hopes to: Establish a common understanding of data elements used […]
Slovenia has introduced a new obligation for all VAT-registered taxpayers to prepare and submit VAT ledgers in addition to the existing VAT return requirements. This new reporting requirement will take effect from 1 July 2025. Taxpayers will be required to submit separate ledgers for output and input transactions. The VAT ledgers must be submitted monthly, in […]
The Italian Revenue Agency (Agenzia delle Entrate) has announced important updates to the Italian mandatory e-invoicing “FatturaPA” technical specifications and schemas. The technical documentation has been updated to version 1.9 and will be effective from 1 April 2025. A summary of the main changes introduced by this updated version are as follows: · Introduction of Document […]
Belgium’s new coalition government has announced plans to introduce a complementary reporting requirement alongside the existing B2B e-invoicing mandate. With the current e-invoicing system operating through the 4-corner Peppol network, there was speculation that a 5-corner model would follow. The recent announcement confirms this, stating that e-invoicing systems, cash registers, and payment systems will be […]
Jordan is moving forward with the implementation of its mandatory e-invoicing system, the National Billing System (NBS), which allows businesses and professionals to electronically issue and manage invoices. The NBS provides a platform for users to generate invoices directly or integrate with the system via API, streamlining the invoicing process and enhancing compliance with tax […]
Serbia has published amendments to the Value Added Tax (VAT) Law introducing pre-filled VAT returns. The law was published in the Official Gazette of the Republic of Serbia no. 94/2024. A pre-filled tax return is defined as a set of data relating to the turnover of goods, trade in services, import of goods and other transactions […]
The Norwegian Ministry of Finance announced the launch of a study into the introduction of mandatory electronic invoicing for business-to-business transactions. The Directorate of Taxes has been tasked with outlining the requirements and presenting a report by mid-June 2025. Electronic invoicing has been mandatory in the public sector since 2019. By extending this requirement to […]
Last year the Hungarian Government implemented new regulations mandating electronic invoicing for electricity and natural gas supplies to non-private individuals beginning on 1 January 2025. However, to provide more time for taxpayers impacted by this requirement, the Government decided to push this deadline to July 1, 2025. This obligation is outlined in Government Decree no. 273/2007. […]
Bosnia and Herzegovina has published a draft Law to introduce mandatory B2B, B2G, and B2C e-invoicing and real-time reporting requirements aimed at combating tax fraud. The transactions in scope include the sale of goods and services, transfer of property and other transactions as specified by the Minister of Finance. The draft law defines an e-invoice as […]
The Slovakian Government published a proposal to reform the VAT Act to adopt mandatory electronic invoicing and invoice data reporting from 1 January 2027. The proposal consists of: Mandatory Electronic Invoicing Adoption: effective 1 January 2027, all taxable persons must issue and receive invoices electronically adhering to the European standard for electronic invoicing. Domestic Invoice […]
The Serbian Parliament has adopted the law on Electronic Goods Delivery Notes, introducing a mandatory e-transport system. The Law was published in Serbia’s official Gazette no.94/2024 and went into effect on 6 December 2024. Earlier, a draft law was published, and the adopted law is largely identical to the draft law. The bylaws regulating the […]
The Saudi Arabian Tax and Customs Authority (ZATCA) announced the 19th wave of Phase 2 of the e-invoicing initiative. The 19th wave includes taxpayers with revenue of at least SAR 1.75 million (approximately USD 466K) who were subject to VAT during 2022 or 2023. Taxpayers within this group are expected to integrate with the system as of September 30th, 2025. Phase 2 of the e-invoicing […]
Greece is close to receiving a derogation from the European Union (EU) in order to introduce a country-wide B2B e-invoicing mandate. The European Commission has published a proposal for a Council Implementing Decision to grant Greece such authorization. According to the Commission’s proposal decision, the Greek e-invoicing obligation will cover transactions between taxable persons established […]
Bulgaria has announced the phased implementation of mandatory SAF-T (Standard Audit File for Tax) reporting, as outlined in the State Budget Law for 2025, starting in January 2026. This initiative aims to enhance tax compliance and streamline data exchange between taxpayers and tax authorities. The implementation timeline is as follows: January 2026 – Large enterprises […]