Regulatory Analysis
The Pilot Program for issuing fully digitized electronic invoices (e-fapiao) has been expanded to the new provinces and cities: Anhui, Beijing, Guizhou, Hunan, Ningxia, Qinghai and Shandong. According to the announcements published by the tax authorities in October 2023, selected taxpayers in these provinces and cities, will be able to issue fully digitized e-fapiao. In […]
The Ministry of Finance plans to develop a platform for sending, receiving, managing, and storing e-waybills. The e-Waybill system is planned to be integrated with the E-Invoicing system (SEF). The e-waybills will be validated, stored, and delivered to the recipient through the Central Registry of e-Waybills (SCR). There will be two types of e-waybills: External: […]
Ireland has now fixed the rate of MIICF contributions to be paid to the Motor Insurers’ Bureau of Ireland (“MIBI”) for 2024. The rate was reduced from 2% to 1%, as outlined in the Insurance Act 1964 (Adjustment of Percentage Rate) Order 2023 (S.I. No. 507/2023).
The Bulgarian Tax Authority National Revenue Agency (NRA) has implemented a mandatory regime for the preliminary declaration of data on the transportation of high fiscal risk goods on the territory of the Republic of Bulgaria, in line with Ordinance No H-5 of September 29, 2023. Scope: the mandatory reporting of data applies to: From October […]
Montenegro plans to implement a mandatory B2B and B2G e-invoicing system in cooperation with Serbia. On October 27, 2023, the Serbian Ministry of Finance and the Minister of Finance of Montenegro signed an agreement on the transfer of a software license for the use of a centralized platform for sending, receiving, managing, and storing e-invoices […]
On November 3, 2023, the Danish Guarantee Fund announced on its website the contribution fixed rates for 2024. The rates remained unaltered, implying that in 2024 the Guarantee Fund must continue to collect DKK 30 per insured under occupational accident insurance and DKK 40 per policy for the following insurances: Family insurance policies Homeowners insurance […]
A joint decision of the Ministry of Finance and the tax authority, AADE, published on October 31, 2023, introduced certain amendments to the myDATA framework: The reporting of historical data that took place in 2022, has been extended as follows: Expenses and self-billing income must be reported until Dec. 31, 2023 (previously Oct. 31, 2023) […]
In the Forum of Tax Administration held in October 2023 in Singapore, the government confirmed they will adopt InvoiceNow, the national e-invoicing framework based on the Peppol network as the mandatory framework for B2G transactions in the country. Recently, testing of a 5-corner instead of the existing 4-corner model as the InvoiceNow Peppol exchange model […]
The amendments to the Law on Electronic Invoicing via SEF were adopted by the National Assembly of the Republic of Serbia and published in the “Official Gazette of the Republic of Serbia” No. 92/23 on October 27, 2023. The main changes are the following: the obligation of electronic registration of preliminary tax and correction of […]
The Motor Insurers’ Bureau of Ireland (“MIBI”) published a new notification on its website on October 11, 2023. According to this notification, the Minister announced that the annual percentage rate of the contributions to the Motor Insurers Insolvency Compensation Fund (MIICF) will be reduced from 2% to 1%. The revised rate will be effective from […]
The upper house of the German Federal Parliament (Bundesrat) recently weighed in on the Growth Opportunities Act, which includes provisions related to mandatory e-invoicing, during its session on October 20. Currently, in Germany, issuing an electronic invoice requires the buyer’s consent. However, the new act aims to introduce mandatory e-invoicing for domestic B2B transactions with […]
On October 24, 2023, the Ministry of Finance in Poland published draft legislation amending the regulation on the scope of data included in the country’s VAT return (JPK_VAT) and opened a public consultation in relation to the draft law. The proposed amendments aim to adapt the VAT return to the mandatory e-invoicing via KSeF, and […]
Following a decision from the Romanian Constitutional Court, the Romanian President has signed into law the bill implementing mandatory e-reporting and e-invoicing from 2024. The now-enacted law maintains the January 2024 roll-out date for the e-reporting obligation as well as the July 2024 date for the implementation of e-invoicing. Furthermore, the 3-month grace period – […]
Israel is implementing a Continuous Transaction Controls (CTC) regime which was initially scheduled to roll out on January 1, 2024. On October 23, 2023, the Israeli Tax Authority (ITA) announced that the timeline has been extended to offer businesses more time to complete their technological development. According to the announcement, the ITA will allow deduction […]
Mauritius is now among the countries that have embraced mandatory e-invoicing, bringing forth robust technical standards for taxpayers. This transformation was initiated through the Finance Act of 2022, which introduced significant amendments to the VAT Act. As the latest update, in September 2023, the Minister of Finance issued the VAT E-invoicing Regulations which came into […]
Croatia has established and maintains a fiscalization system for cash transactions, and in February 2023. the Croatian Tax Authority announced its plans for the introduction of “Fiscalization 2.0” aimed at enhancing the existing system. Fiscalization 2.0 is set to introduce a decentralized e-invoicing model coupled with a continuous transaction control (CTC) reporting system for invoice […]
The tax authority through the First Anticipated Version of the 8th Resolution of Modifications to the Miscellaneous Tax Resolution for 2023 among others, modifies the Rule 2.7.1.7 relating to the Requirements of the printed representations of the CFDI, indicating that in the case of the CFDI to which the Carta Porte is incorporated, the structure […]
The updated timeline for the implementation of the French e-invoicing and e-reporting mandate has been shared. The timeline was previously postponed in July 2023, and no official new schedule was provided at that time. According to the amendment concerning the draft on Finance Law for 2024 filed on October 17, 2023, the new dates are […]