Regulatory Analysis

Posted November 5, 2024 by Victor Duarte
Saudi Arabia: 17th Wave of Taxpayers in Scope of Phase 2 of E-Invoicing Announced

The Saudi Arabian Tax and Customs Authority (ZATCA) announced the 17th wave of Phase 2 of the e-invoicing initiative. The 17th wave includes taxpayers with a revenue of at least SAR 2.5million (approximately USD 660.000) that were subject to VAT during 2022 or 2023. Taxpayers within this group are expected to integrate with the system as of July 31st, 2025. […]

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Posted November 5, 2024 by Victor Duarte
Latvia: Accounting Law Amended to Adopt Mandatory E-Invoicing

The Latvian parliament approved amendments to the Accounting Law, mandating the use of structured electronic invoices for transactions involving goods and services. The implementation timeline is as follows: 1 January 2025: obligation to issue structured e-invoices in B2G transactions (to the budget institutions) 1 January 2026: obligation to issue structured e-invoices in B2B transactions The MoF announced […]

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Posted November 5, 2024 by Kelly Muniz
EU: VAT in the Digital Age Approved

The long-awaited VAT in the Digital Age (ViDA) proposal has been officially approved. On November 5, 2024, during the Economic and Financial Affairs Council (ECOFIN) meeting, EU member states unanimously agreed on adopting the ViDA package. This decision marks a major milestone in modernizing the VAT Directive, setting the stage for a more efficient and […]

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Posted November 1, 2024 by Robert Pelletier
Cyprus: Temporary Zero Rate on Basic Items Reinstated Until December 31, 2025

Pursuant to the Council of Ministers Decree KDP 349/2024 published on October 31, 2024, the zero VAT rate applies to basic food and consumer items such as baby milk, baby and adult diapers, female hygiene products, fresh or chilled vegetables, and fresh fruits effective from November 4, 2024, until December 31, 2025. The temporary zero-rate […]

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Posted November 1, 2024 by Kelly Muniz
EU: New ViDA Proposal Set for ECOFIN Approval

The Council of the European Union has released a new proposal for the tax reform package called VAT in the Digital Age (ViDA). The proposal modernizes and streamlines VAT systems across the EU, notably the approach to e-invoicing and Continuous Transaction Controls (CTC) in the region. The updated proposal text will be reviewed by Members […]

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Posted October 31, 2024 by Kelly Muniz
UK: Government Confirms Launch of Public Consultation on E-Invoicing

Following an announcement by the head of His Majesty’s Treasury in late September 2024, the UK Revenue and Customs authority (HMRC) has confirmed an upcoming public consultation on e-invoicing as part of the 2024 Autumn Budget published on 30 Oct 2024. According to the announcement, the government will launch the consultation in early 2025 to […]

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Posted October 29, 2024 by Kelly Muniz
Poland: Draft Law on KSeF Added to Council of Ministers’ Legislative Agenda

The Draft law proposing changes to the Polish KSeF e-invoicing system has been included in the legislative program of the Polish Council of Ministers. It addresses the topics raised during consultations held earlier this year. According to the official publication, the proposal aims to introduce measures to simplify the implementation and use of the KSeF […]

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Posted October 29, 2024 by Victor Duarte
UAE: VAT Law Amended to Include Electronic Invoices

The latest issue of the UAE Official Gazette includes amendments to national VAT law (the Federal Decree-Law No. (8) of 2017 regarding Value Added Tax (VAT)). These changes are driven by the upcoming e-invoice mandate in the country. This is the first time that the VAT law in the country has been changed to include […]

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Posted October 24, 2024 by Victor Duarte
UAE: Ministry of Finance Reaffirms E-Invoicing Plans in the Country

The Ministry of Finance of the United Arab Emirates (MoF) has reaffirmed its plans for the previously announced E-Billing System project. The MoF just made available an e-invoicing website that defines the objectives of the e-invoicing project to reduce human intervention in business and tax reporting processes, optimize costs, and enhance security through encrypted transactions. This […]

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Posted October 18, 2024 by Edit Buliczka
Denmark: Change of Rates for Guarantee Fund Contributions From 2025

On 10th September 2024, the Danish Guarantee Fund (DGF) issued an order concerning the rate of contributions payable by insurers for 2025. The following non-life consumer policies will be subject to DKK 10 contribution: Family insurance policies Homeowners insurance policies Health insurances Change of ownership insurances Seller liability insurances Building/Construction damage insurance Motor insurance policies […]

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Posted October 16, 2024 by Inês Carvalho
Belgium: List of Compliant e-Invoicing Solutions Published

On October 15, 2024, the Belgian authorities published a list of compliant software solutions that enable taxpayers to send, receive, and process structured electronic invoices. From 2026, all Belgian VAT-registered entities will be required to use structured electronic invoices for domestic B2B transactions. Sovos is recognized as one of the compliant software providers on this […]

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Posted October 16, 2024 by Inês Carvalho
Germany: Ministry of Finance Publishes Finalized Guidelines on B2B E-invoicing

On October 15, 2024, the German Ministry of Finance (MoF) published the finalized guidelines on the upcoming B2B e-invoicing mandate, confirming the announced roll out date of January 2025. The final guidelines have not changed the key requirements established by the Growth Opportunities Act, instead confirming the content of the draft guidelines published earlier this […]

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Posted October 16, 2024 by Inês Carvalho
France: Important Updates on the French e-Invoice Mandate

On October 15, 2024, the French Tax Administration (DGFIP) announced  a major change regarding the Public Portal (‘PPF’), marking a significant shift in the country’s e-invoicing landscape. The DGFIP stated that the PPF will no longer function as a free e-invoice exchange platform, discontinuing its plan to serve as a no-cost Partner Demateriarialization Platform (‘PDP’).  […]

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Posted October 11, 2024 by Carolina Silva
Portugal: Postponement of Qualified Electronic Signature Requirement and Accounting SAF-T Proposed

The 2025 Draft State Budget once again proposes 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, 2025, this requirement is now addressed in the 2025 Draft State Budget. Following the official publication of […]

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Posted October 7, 2024 by Edit Buliczka
Ireland: Contributions to Motor Insurers Insolvency Compensation Fund (MIICF) Ends From 2025

On 1st of October 2024, the Irish Motor Insurance Bureau (MIBI) announced that in 2025 the contributions payable by the insurance companies to the Motor Insurers’ Insolvency Fund (MIICF) will end from 1st January 2025. The reason for this statement, published on their website, is that MIBI’s expects the value of the fund to exceed […]

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Posted October 2, 2024 by Talent Gwaindepi
Egypt: Mandatory Tax ID and UIN Validation for B2B Sales

As of 1 November 2024, businesses conducting B2B sales in Egypt must validate their buyer’s Tax ID and a newly introduced Unique Identification Number (UIN) through a new digital system. The dual validation process, essential for zero-rated transactions, is intended to strengthen VAT compliance and reduce VAT fraud under the VAT reverse charge mechanism. The […]

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Posted October 1, 2024 by Victor Duarte
Saudi Arabia: New Taxpayer Group in Scope of Phase 2 of e-Invoicing Announced

The Saudi Arabian Tax and Customs Authority (ZATCA) announced the 16th wave of Phase 2 of the e-invoicing initiative. The 16th wave includes taxpayers with a revenue of at least SAR 3 million (approximately USD 800.000) subject to VAT during 2022 or 2023. Taxpayers within this group are expected to integrate with the system as of April 1st, 2025. Phase […]

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Posted October 1, 2024 by Talent Gwaindepi
Serbia: Draft Law Introducing Mandatory e-Transport System

The Ministry of Finance in Serbia has released a draft Law on Electronic Goods Delivery Notes introducing the mandatory e-Transport system. The draft law is aimed to be adopted in the second quarter of 2025. The draft law regulates mandatory sending, receiving, processing, rejecting, accepting, and presenting electronic delivery notes, for each movement of goods, […]

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