Regulatory Analysis
On Friday, February 16th, the Polish Ministry of Finance (MoF) conducted its first two meetings as part of a series of consultations with businesses regarding KSeF, in which Sovos has actively participated. The sessions addressed topics related to the security and performance of the KSeF system, as well as the impact of B2C transactions within […]
The General Directorate of Public Finances (DGFiP) has shared new details on the upcoming French Continuous Transaction Controls (CTC) mandate from the Communauté des Relais meeting on 16 February 2024. The implementation of the French CTC mandate is scheduled for September 2026. From this date, all businesses must be able to receive electronic invoices. Concurrently, […]
The Royal Decree of December 17th, 2023, postponing the starting date for the amendments to the Belgian VAT chain was recently published. This postponement follows the enactment of the Law aiming to improve the Belgian VAT compliance chain, of March 12, 2023, which introduced measures concerning the processing of periodic VAT returns and payments. Originally […]
Pursuant to a notice issued by the Nigerian Federal Inland Revenue Service (FIRS) on January 15, 2024, the implementation of the Guidelines on Simplified Compliance Regime on VAT for non-resident suppliers of goods to Nigeria through digital platforms, scheduled to commence from January 1, 2024, has been postponed. The postponement is to allow FIRS to […]
Government Bill 488, now published in the Official Gazette of the Czech Republic, makes several changes to the country’s VAT Act, the most significant of which are as follows: The country’s two reduced rates of 15% and 10% are replaced by a single reduced rate of 12%; Books, including electronically supplied books, are exempt with […]
On January 1, 2024, Luxembourg’s temporary 1% decrease in several of its VAT rates will expire. Luxembourg’s VAT rates will return to what they had been prior to January 1, 2023, as follows: 17% standard rate (was 16% for calendar year 2023) 14% reduced rate (was 13% for calendar year 2023) 8% (was 7% for […]
Pursuant to Federal Gazette No. 39/2022 published on October 29, 2022, the temporary 7% reduced VAT rate applied to restaurant and catering services, excluding the sale of beverages, in Germany expired on December 31, 2023. These services have been subject to the standard 19% tax rate since January 1, 2024. The law can be found […]
Pursuant to Law 5073/2023 as published in the Official Gazette on December 11, 2023, the temporary 13% reduced VAT rate in Greece that applied the provision of services in cafes, restaurants, and pastry shops, as well as the 6% rate on protective face masks and gloves due to Covid-19, has expired. Since January 1, 2024 […]
The regulation amending the scope of data included in the JPK_VAT with a declaration (VAT return) in Poland, has now been passed to the Minister of Finance for formal signature. The final version of the regulation from 29 December 2023 has been further changed compared to the initial draft, and its final form does not […]
The draft legislation on 28 December 2023 introducing mandatory B2B e-invoicing in Belgium has been made publicly available and is now awaiting the Belgian Parliament’s approval. After its approval, the e-invoicing mandate is planned to enter into force from 1 January 2026 and impact all VAT-registered taxpayers established in Belgium. The taxable persons who are […]
After the implementation of Romania’s new B2B e-invoicing regulations effective January 2024, the country introduced the Government Emergency Order no. 115/2023 with last-minute amendments. The key amendments resulting from the new legislation can be summarized in 3 categories: 1. Exemptions from the e-reporting and e-invoicing mandate are clarified The following transactions are explicitly exempted from […]
Saudi Arabian Tax and Customs Authority, ZATCA, extended the “Cancellation of Fines and Exemption of Penalties Initiative” until June 30, 2024. This initiative covers fines regarding late registration in all tax systems, late payment, late filing of returns fines in all tax systems, and fines to correct VAT returns, as well as fines for violations […]
In the Serbian Official Gazette no. 116 from 26.12.2023, the regulations introducing certain legislative changes were published, namely: Amendments to the Regulation on uniform technical and technological requirements and procedures for the preservation and protection of archival material and documentary material in electronic form. Amendments to the Regulation on Electronic Invoicing. Amendments to the Regulation […]
As published in the Official Journal of Laws on December 9, 2023, the Polish Ministry of Finance has extended the zero VAT rate on basic food products until March 31, 2024. The temporary zero VAT rate was previously set to expire on December 31, 2023. The regulation can be found here (in Polish).
On January 1, 2024, Estonia’s standard rate of VAT will increase from 20% to 22%. In addition, from January 1, 2025, Estonia plans to increase the rate of VAT on press publications from 5% to 9%, reversing a recent change.
The long anticipated adoption of the tax bill was published in the official gazette on December 11, 2023. Law 5073/2023 (FEK A’ 204) on “Measures for the limitation of tax evasion and other urgent provisions” regulates, among other things, a number of aspects related to myDATA and e-invoicing, namely: The e-invoicing incentives provide to businesses […]
The Ministry of Finance has released technical specifications for the KSeF interface in the test environment. This documentation outlines details about QR codes and their associated verification links, it also clarifies information derived from the draft regulation on the use of KSeF that was published in November. The QR codes serve as visual representations of […]
The Portuguese parliament has granted approval for a proposal aimed at delaying the implementation of the qualified electronic signature requirement as a method to establish the presumption of integrity and authenticity for e-invoices. Initially expected to be enforced on January 1, 2024, this requirement is dealt with again in the 2024 State Budget (Draft-law no. […]