Regulatory Analysis

The Turkish Revenue Authority (TRA) issued a circular on November 29, 2023, announcing that the deadline for the creation and signing of e-ledgers and submission of e-ledgers to TRA system has been extended to provide taxpayers additional time to fulfill these obligations. Originally due on 30 November 2023, the deadline has now been updated as […]

On November 26, the Ministry of Finance published two long-awaited draft acts regarding mandatory e-invoicing via KSeF. Draft Regulation on the use KSeF, covering: verification codes (i.e. QR codes): included on the invoices sent to the buyer outside of KSeF and in the event of system or taxpayer failure to connect with KSeF (offline modes). […]

The Kenya Revenue Authority (KRA) announced on November 17, 2023, that business expenditures not supported by tax invoices generated through the Electronic Tax Invoice Management System (eTIMS) will not be eligible for tax deductions starting from January 1, 2024. All entities conducting business in Kenya, irrespective of their VAT registration status, are mandated to accept […]

Among the main changes and regulations established by the resolution are: Technical Annex 1.9 of the electronic sales invoice • It incorporates new fields and validations for generation and transmission, as well as for registration as a security in the RADIAN. • It establishes that the subjects obliged to invoice must adopt this version within […]

On November 1st, the Tax Authority issued the Resolution 000165 which the invoicing system is developed, the technology providers, version 1.9 of the technical annex of electronic sales invoice is adopted, technical annex 1.0 of the Electronic Equivalent Document is issued and other provisions are issued regarding the invoicing system. It is important to note […]

The tax authority issues the Guide to Accept the Proposal from the SIRE (Integrated System of Electronic Records). SISTEMA INTEGRADO DE REGISTROS ELECTRONICOS – SIRE | Comprobantes de Pago Electrónicos (sunat.gob.pe) 

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: […]

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 […]

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 […]

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 – […]

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 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 […]

Estonia is planning changes to its Accounting Act to implement a customer-imposed B2B e-invoice mandate in accordance with the European e-invoicing standard. The intended changes are: To remove the reference to the Estonian e-invoice standard To give all accounting entities registered as receivers in the commercial register the right to demand an e-invoice that complies […]

The Malaysian 2024 Budget, which is currently pending parliamentary approval, introduces changes to the implementation timeline of mandatory e-invoicing in the country. According to the new budget law, implementation will be delayed, and will follow the below schedule: For taxpayers with an annual turnover of revenue of more than RM100 million (appx. 20 million euros) […]

The Turkish Revenue Administration continues to make arrangements in line with different sectoral needs. A significant update in this regard is the issuance of General Communique No. 550 on Tax Procedural Law (TPL) which amends General Communique No.509 on TPL concerning documents to be generated in electronic form. This communique was published in the Official […]

E-invoicing for B2B transactions is permitted but not yet mandatory in Canada. However, in the last years the Canadian government has been promoting e-invoicing and has introduced certain requirements. In 2021, it set up a task force within the Canadian Revenue Agency (CRA) to study the feasibility of a B2B e-invoicing mandate in Canada. The […]

The IRS recently released the 2023 Publication 1220, which contains electronic filing specifications for forms 1099 and other information returns. There are no changes to the specifications themselves, but filers should be aware of several important additions to the publication. First, information about the new IRIS filing system has been added. To use IRIS, filers […]

The IRS has released Publication 1187, “Specifications for Electronic Filing of Forms 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding.”  The document provides electronic filing specifications and directions for Form 1042-S. The publication has the following the changes to electronic filing direction: The IRS now states that the unique form identifier for a record […]