Regulatory Analysis
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 […]
On December 13, a new legislative decree (No. 184 pf 22 November 2023) was published in the Italian Official Gazette. This decree is transposing the rules of Directive No. 2021/2118 of November 24 (the Directive), which is the amendment of the Sixth Directive on Motor Insurance (Directive 2009/103/EC ), into Italian law. According to the […]
The previously proposed delays to the roll-out schedule of the French e-invoicing mandate should now be considered as finalized, following a push from the French Government yesterday to move the Finance Law for 2024 to a vote without a prior debate, thereby closing the door to further amendments. As part of the Finance Law for […]
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 […]
On December 7, a new ordinance (No. 2023-1138 of December 2023) was published by the French Ministry of Economy, Finance and Industrial and Digital Sovereignty. This ordinance is transposing the rules of Directive No. 2021/2118 of November 24 (the Directive), which is the amendment of the Sixth Directive on Motor Insurance (Directive 2009/103/EC ), into […]
Following the recent enactment of the law implementing the B2B e-reporting and e-invoicing mandate in Romania, a draft amendment has been published by the Ministry of Finance, on December 13, 2023, introducing some new requirements to the existing mandate. Among other measures and clarifications, the draft law aims to implement the following obligations: A new […]
On December 8, 2023, at the second reading, The Council of Ministers in Belgium approved a draft law regarding the introduction of mandatory B2B structured electronic invoicing. This means that the legislative process is moving forward with January 1, 2026, as the intended go-live date of the mandate. The preliminary draft law is awaiting the […]
The Institute for Insurance Supervision (IVASS) in Italy has published the management charge rate for the year 2024. The rate has been increased from 4.26% to 4.37%. 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 in November.
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. […]
Pursuant to the Nigerian Federal Inland Revenue Service (FIRS) Circular No. 2021/19, foreign suppliers and marketplaces providing goods in Nigeria to taxable and non-taxable persons must collect and remit VAT on their sales from January 1, 2024. The circular can be found here.
The Bundesrat, the upper house of the German Federal Parliament, has declined to approve the Growth Opportunities Act, which includes amendments to VAT law concerning e-invoicing, along with other tax measures. Germany is in the process of introducing a mandatory e-invoicing regime for domestic B2B transactions. The implementation timeline has been recently revised following approval […]
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 Ghana Revenue Authority (GRA) launched its mandatory electronic invoicing system, known as e-VAT, in October 2022. The pilot group included 50 large taxpayers. According to the 2024 Budget, the second phase will expand the e-VAT system to include an additional 600 large taxpayers, as well as more than 2000 small and medium-sized taxpayers throughout […]
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 […]
The Bundestag, the lower house of the German Federal Parliament, passed the Growth Opportunities Act introducing mandatory e-invoicing for domestic B2B transactions. The general transition period (voluntary phase) has been extended by one year compared to the federal government draft. This means paper invoices will be accepted until the end of 2026. Additionally, smaller businesses […]
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: […]