Regulatory Analysis
Bulgaria has announced the phased implementation of mandatory SAF-T (Standard Audit File for Tax) reporting, as outlined in the State Budget Law for 2025, starting in January 2026. This initiative aims to enhance tax compliance and streamline data exchange between taxpayers and tax authorities. The implementation timeline is as follows: January 2026 – Large enterprises […]
The standard VAT rate in Israel is increasing from 17% to 18% from January 1, 2025. This measure was introduced in early 2024 and was confirmed by the Israeli Tax Authority on December 5, 2024. The announcement can be found here (in Hebrew).
The Finnish Government approved an increase in the reduced VAT rate from 10% to 14% from January 1, 2025. Goods and services currently subject to the 10% reduced VAT rate will be subject to the 14% rate, excluding supplies of newspapers, magazines, and broadcasting services that will remain at the 10% rate. Children’s diapers and […]
The Polish Minister of Finance (MoF) has officially postponed the obligation to submit the JPK_ST_KR (known as the Polish Standard Audit File – SAF-T). This exemption applies to the tax year starting after 31 December 2024 and ending before 1 January 2026. The JPK_ST_KR is a file containing data from the register of fixed and […]
The proposed amendments to Romania’s e-invoicing, e-transport, and e-VAT legislation have been officially adopted through Government Emergency Ordinance (GEO) no. 138, published on December 4th. The adopted ordinance largely reflects the provisions outlined in the draft GEO. Key updates include: E-invoicing Simplified invoices are no longer excluded from scope of mandatory e-invoicing and reporting requirements […]
Pursuant to amendments published in the Official Gazette of Montenegro No. 94/2024 on September 30, 2024, a new reduced VAT rate category of 15% is introduced and the scope of supplies subject to the 7% reduced rate is adjusted from January 1, 2025. The 7% VAT rate will apply to essential goods, including basic food […]
On 6 December 2024, the Italian Institute for Insurance Supervision (IVASS) published the management charge rate for the year 2025. The rate has been increased from 4.37% to 4.50%. 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 at […]
From July 2025, Estonian taxpayers will be required to issue e-invoices upon the buyer’s request, with the aim of stimulating wider e-invoicing adoption in the country. While this measure can lead to an increase in e-invoicing, the government aims to achieve additional broader goals, such as enhancing transparency, reducing fraud, and improving VAT collection. In […]
The Saudi Arabian Tax and Customs Authority (ZATCA) announced the 18th wave of Phase 2 of the e-invoicing initiative. The 18th wave includes taxpayers with a revenue of at least SAR 2 million (approximately USD 532 200, 00) that were subject to VAT during 2022 or 2023. Taxpayers within this group are expected to integrate with the system as of […]
On December 2nd, a Draft Government Emergency Ordinance was published, proposing amendments to Romania’s e-invoicing, e-transport and e-VAT mandates. E-invoicing Simplified invoices are set to come under the scope of mandatory e-invoicing and reporting requirements from January 2025. For mandatory B2B e-invoicing between established taxpayers, it is clarified that transactions with a place of supply […]
The Greek Tax Authority (Independent Authority for Public Revenue, IAPR) has announced the postponement of the obligation to transmit transport document data to the myDATA platform in real time. This was set to become mandatory from 1 Dec 2024 for the first impacted groups. The newly announced deadlines are as follows: Phase 1 Features and […]
The Polish Minister of Finance (MoF) has proposed a Draft regulation to exempt taxpayers under the Corporate Income Act from the obligation to submit data from the register of fixed and intangible assets, also known as JPK_ST_KR. It was expected that the MoF would enact regulations impacting the such obligation, as we previously informed here. […]
Starting January 1, 2025, new regulations will mandate electronic invoicing for electricity and natural gas supplies to non-private individuals. This obligation is outlined in Government Decree no. 273/2007. The framework does not require e-invoices to be issued in any specific format, nor does it require a specific method for the exchange of the electronic invoice. […]
The Hungarian Government issued a new government decree (no 356/2024) on 21st November 2024, which amends the extra profit tax regulations including the rules for insurance premium tax (EPTIPT). The new decree extends the extra profit tax on insurance premiums for another year. The updated termination date is 31st December 2025. Not only the applicable rates, […]
The Greek Independent Authority for Public Revenue (AADE) has published updated myDATA technical specifications. The new version 1.0.10 is now available in the myDATA Test Environment. The main changes of the updated version are the following: Fuel Invoices submission via ERP: transmission of fuel invoices (liquid fuel sales invoice) is now supported through the ERP […]
As previously announced, the Polish Ministry of Finance (MoF) has initiated the final consultation process for its National e-Invoicing System (KSeF). This involves collecting the public’s comments on the new KSeF Draft Act and the updated logical structures FA(3) and FA_RR(1) that have also been published. The objective of the proposed legislation and updated schemas […]
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. […]
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 […]