Regulatory Analysis
The Polish Minister of Finance (MoF) has officially postponed the obligation to submit the JPK_ST_KR (known as the Polish Standard Audit File – SAF-T). This exemption applies to the tax year starting after 31 December 2024 and ending before 1 January 2026. The JPK_ST_KR is a file containing data from the register of fixed and […]
The proposed amendments to Romania’s e-invoicing, e-transport, and e-VAT legislation have been officially adopted through Government Emergency Ordinance (GEO) no. 138, published on December 4th. The adopted ordinance largely reflects the provisions outlined in the draft GEO. Key updates include: E-invoicing Simplified invoices are no longer excluded from scope of mandatory e-invoicing and reporting requirements […]
Pursuant to amendments published in the Official Gazette of Montenegro No. 94/2024 on September 30, 2024, a new reduced VAT rate category of 15% is introduced and the scope of supplies subject to the 7% reduced rate is adjusted from January 1, 2025. The 7% VAT rate will apply to essential goods, including basic food […]
On 6 December 2024, the Italian Institute for Insurance Supervision (IVASS) published the management charge rate for the year 2025. The rate has been increased from 4.37% to 4.50%. The management charge reduces the taxable basis applied to the Road Accident Victims Fund (RAVF) and Hunting Accident Victims Fund (HAVF) and is published annually at […]
From July 2025, Estonian taxpayers will be required to issue e-invoices upon the buyer’s request, with the aim of stimulating wider e-invoicing adoption in the country. While this measure can lead to an increase in e-invoicing, the government aims to achieve additional broader goals, such as enhancing transparency, reducing fraud, and improving VAT collection. In […]
The Saudi Arabian Tax and Customs Authority (ZATCA) announced the 18th wave of Phase 2 of the e-invoicing initiative. The 18th wave includes taxpayers with a revenue of at least SAR 2 million (approximately USD 532 200, 00) that were subject to VAT during 2022 or 2023. Taxpayers within this group are expected to integrate with the system as of […]
On December 2nd, a Draft Government Emergency Ordinance was published, proposing amendments to Romania’s e-invoicing, e-transport and e-VAT mandates. E-invoicing Simplified invoices are set to come under the scope of mandatory e-invoicing and reporting requirements from January 2025. For mandatory B2B e-invoicing between established taxpayers, it is clarified that transactions with a place of supply […]
The Greek Tax Authority (Independent Authority for Public Revenue, IAPR) has announced the postponement of the obligation to transmit transport document data to the myDATA platform in real time. This was set to become mandatory from 1 Dec 2024 for the first impacted groups. The newly announced deadlines are as follows: Phase 1 Features and […]
The Polish Minister of Finance (MoF) has proposed a Draft regulation to exempt taxpayers under the Corporate Income Act from the obligation to submit data from the register of fixed and intangible assets, also known as JPK_ST_KR. It was expected that the MoF would enact regulations impacting the such obligation, as we previously informed here. […]
Starting January 1, 2025, new regulations will mandate electronic invoicing for electricity and natural gas supplies to non-private individuals. This obligation is outlined in Government Decree no. 273/2007. The framework does not require e-invoices to be issued in any specific format, nor does it require a specific method for the exchange of the electronic invoice. […]
The Hungarian Government issued a new government decree (no 356/2024) on 21st November 2024, which amends the extra profit tax regulations including the rules for insurance premium tax (EPTIPT). The new decree extends the extra profit tax on insurance premiums for another year. The updated termination date is 31st December 2025. Not only the applicable rates, […]
The Greek Independent Authority for Public Revenue (AADE) has published updated myDATA technical specifications. The new version 1.0.10 is now available in the myDATA Test Environment. The main changes of the updated version are the following: Fuel Invoices submission via ERP: transmission of fuel invoices (liquid fuel sales invoice) is now supported through the ERP […]
As previously announced, the Polish Ministry of Finance (MoF) has initiated the final consultation process for its National e-Invoicing System (KSeF). This involves collecting the public’s comments on the new KSeF Draft Act and the updated logical structures FA(3) and FA_RR(1) that have also been published. The objective of the proposed legislation and updated schemas […]
The Saudi Arabian Tax and Customs Authority (ZATCA) announced the 17th wave of Phase 2 of the e-invoicing initiative. The 17th wave includes taxpayers with a revenue of at least SAR 2.5million (approximately USD 660.000) that were subject to VAT during 2022 or 2023. Taxpayers within this group are expected to integrate with the system as of July 31st, 2025. […]
The Latvian parliament approved amendments to the Accounting Law, mandating the use of structured electronic invoices for transactions involving goods and services. The implementation timeline is as follows: 1 January 2025: obligation to issue structured e-invoices in B2G transactions (to the budget institutions) 1 January 2026: obligation to issue structured e-invoices in B2B transactions The MoF announced […]
The long-awaited VAT in the Digital Age (ViDA) proposal has been officially approved. On November 5, 2024, during the Economic and Financial Affairs Council (ECOFIN) meeting, EU member states unanimously agreed on adopting the ViDA package. This decision marks a major milestone in modernizing the VAT Directive, setting the stage for a more efficient and […]
Pursuant to the Council of Ministers Decree KDP 349/2024 published on October 31, 2024, the zero VAT rate applies to basic food and consumer items such as baby milk, baby and adult diapers, female hygiene products, fresh or chilled vegetables, and fresh fruits effective from November 4, 2024, until December 31, 2025. The temporary zero-rate […]
The Council of the European Union has released a new proposal for the tax reform package called VAT in the Digital Age (ViDA). The proposal modernizes and streamlines VAT systems across the EU, notably the approach to e-invoicing and Continuous Transaction Controls (CTC) in the region. The updated proposal text will be reviewed by Members […]