Regulatory Analysis

Posted June 29, 2022 by Victor Duarte
China: The scope of the pilot program for the fully digitized e-invoice keeps expanding

The Shanghai Taxation Bureau released a notice to inform that from June 25, 2022, the Xuhui District is included in the pilot program for the fully digitized e-invoice. This pilot program keeps expanding its scope of jurisdictions across China. However, for the time being, only selected taxpayers in Shanghai, Inner Mongolia, and Guangdong are able […]

Read More
Posted February 17, 2022 by Selin Adler Ring
South Korea Expands Mandatory E-invoicing Scope

In South Korea, e-invoicing has been mandatory for all corporate businesses since 2011. From 2012, individual businesses (entrepreneurs) have also been required to comply with e-invoicing obligations if they meet the threshold limits which have been updated a couple of times over the years. Currently, an individual business whose aggregate supply value (including transactions that […]

Read More
Posted December 16, 2021 by Filippa Jörnstedt
Chinese e-invoicing pilot extended to Shanghai as of December 2021

The Chinese e-invoicing pilot program, which has gradually been expanded in its new form since January 2021, has now welcomed a new batch of cities into the program. The updated version of the Chinese CTC e-invoicing pilot program, which is intended to allow businesses to issue e-invoices as well as to receive and verify them […]

Read More
Posted October 12, 2021 by Joanna Hysi
Philippines: Go-live of e-invoicing system postponed to July 2022

A new timeline for the go-live of the Philippine e-invoicing system (EIS) was announced at the webinar held by BIR today on the 12th October. The launch of the pilot program for e-invoicing (which targets the country’s 100 largest taxpayers) has been postponed with six months, from 1 January to 1 July 2022. As part […]

Read More
Posted July 14, 2021 by Selin Adler Ring
INDIA: QR code requirement for B2C invoices has been deferred once more

Ever since the introduction of mandatory e-invoicing in India, B2C transactions have been excluded from the scope of mandatory e-invoicing. For these transactions specifically, there is a separate requirement: taxpayers with an annual threshold of 500 Cr. rupees or more must include a self-generated dynamic QR code on B2C invoices. Even though this requirement was […]

Read More
Posted May 12, 2021 by Selin Adler Ring
Russia is introducing partially mandatory e-invoicing from 1 July 2021

Russia is introducing a new system for traceability of certain goods that will come into effect on 1 July 2021. Federal Law No. 371-FZ will amend the Russian Tax Code to introduce the new procedure for the traceability system, which will bring with it the introduction of mandatory e-invoicing for taxpayers dealing with traceable goods. […]

Read More
Posted April 8, 2021 by Selin Adler Ring
INDIA: Deferral of QR code requirement for B2C invoices and technical changes in the e-invoicing system

The Indian authorities have recently announced two significant changes related to its e-invoicing framework: While invoices relating to B2C transactions are not within the scope of mandatory e-invoicing in India, it is mandatory to include a self-generated QR code on B2C invoices. The Central Board of Indirect Taxes and Customs (CBIC) has now extended the […]

Read More
Posted January 12, 2021 by Bradley Feimer
Afghanistan Postpones VAT Implementation to 2021

Afghanistan has delayed plans to implement Value Added Tax to 21 December 2021. A 10% VAT is expected to replace the country’s current business receipt tax (BRT). The Afghanistan Revenue Department is also contemplating amendments to the proposed VAT system so to create a simplified tax scheme for those businesses below the VAT threshold. Once […]

Read More
Posted October 24, 2020 by Victor Duarte
Vietnam: New Decree officially delays the e-invoicing mandate to 1 July 2022

Several months after a draft Decree on invoicing was published, the Vietnamese Government approved on 19 October 2020 the Decree 123/2020/ND-CP regulating invoices and documents. This Decree postpones the e-invoicing mandate until July 1, 2022. The new deadline is in line with the date of implementation of the rules concerning the e-invoicing system envisaged in […]

Read More
Posted October 2, 2020 by Selin Adler Ring
Indian E-invoicing System is Live with a 30 Day Grace Period

India’s e-invoicing mandate is live as of yesterday with a last minute 30 day grace period granted for taxpayers in scope to obtain invoice reference numbers. The grace period ends in November and as of November the requirement to include the IRN and the QR code on the invoices will be enforced, meaning that invoices […]

Read More
Posted August 5, 2020 by Selin Adler Ring
India: Last Minute Changes to the E-invoicing System

There have been regulatory changes related to the Indian e-invoicing system. The Central Board of Indirect Taxes and Customs (CBIC) issued two new Notifications on 30 July 2020: One of the Notifications is related to the technical aspect of the reform, and the second is related to the taxpayer scope of the mandate. After this […]

Read More
Posted May 15, 2020 by Filippa Jörnstedt
India: updates to the JSON e-invoice schema published

A new JSON e-Invoice schema (v1.02) has been released by the Indian Tax Authority. The update includes only minor changes and no new fields. While version 1.02 is now available for testing, version 1.01 will continue as is for some time prior to being phased out.

Read More
Posted February 20, 2018 by Yujin Weng
Singapore Budget Introduces Important GST Changes

On February 19, Singapore released its 2018 Budget which includes two significant changes to its Goods and Services tax (GST), including rules that will require foreign suppliers of services to register to collect and remit tax. Imported services will be subject to the GST starting on January 1, 2020 Business buyers of services (both digital […]

Read More