Legal Regulation Changes

The Romanian National Agency for Fiscal Administration (ANAF) has extended the grace period for SAF-T reporting for a further six months.

From January 2024 at the earliest, there will be a requirement for companies to use an approved system.

The authorities of Mecklenburg-Western Pomerania announced mandatory e-invoicing in the B2G area from April 1, 2023.

In January 2022, the European Commission launched a consultation among Member States on VAT in the digital age. Here are some words about the results.

If you've been wondering how to deal with the difficulties of implementing the e-Transport system in Romania, we have good news for you. But let’s start from the beginning.

Since its inception in July 2020, the E-invoice Promotion Association (EIPA) has been working to contribute to the digitization of overall commercial transactions.

The Business Payments Coalition (BPC) is a volunteer group of organizations and individuals working together to promote greater adoption of electronic business-to-business (B2B) payments, remittance data, and invoices.

Like many countries around the world, Vietnam is becoming part of the e-invoice revolution.

Starting from July 1, 2022, economic operators established in Romania have the obligation to issue electronic invoice via the RO e-Factura system in terms of B2G relationships.

All You Need to Know about the Regulations Coming in July.

The obligation to send the tax authorities JPK_CIT and JPK_PIT (structured books and records) will not come into force in 2023.

To increase the level of collection of taxes and duties due to the state budget, as well as preventing and combating illicit trade in goods with a high fiscal risk, the Romanian Ministry of Finance has decided to implement the RO e-Transport system.

Since the entry into force of e-invoicing in 2019, Italy has recovered around €2 billion in VAT. All this has been possible thanks to the elimination of invoices in paper format, which made the process more transparent.

The country decided to implement both e-invoicing and e-reporting, the latter being the transmission to the administration of certain information relating to commercial transactions that are not included in the former.

The Belgian Ministry of Finance intends to introduce mandatory e-invoicing in B2B transactions as of July 2023.

So far, we have focused on changes due to e-invoicing in particular countries. In some of them, adjustments were introduced gradually, and in others more dynamically. Free choice of solutions made two models the most popular: post-audit and clearance.

Prepare Your Company for B2G E‑invoicing in Luxembourg. Start your e-invoicing journey smoothly with Comarch

Vietnam still uses paper invoices, but it does not intend to continue doing so.

France is one of the first European countries that decided to implement e-invoicing obligations in business to government (B2G) relations.

Poland is one step closer to gaining EU approval for the KSeF (National System of e-Invoices) mandate.

Making Tax Digital (“MTD”) is a digital tax system introduced in The United Kingdom on 1 April 2019. The main goal of MTD, apart from ecological and economic aspects, is making conducting business much easier for owners and accountants. 

In Romania there will be mandatory e-Invoicing for two groups of suppliers. The first is the car trading industry. The second concerns products with high fiscal risk.

As of July 1, 2024, the obligation to receive invoices in electronic format will be mandatory for all companies.

In 2018, the Philippines launched the Tax Reform for Acceleration and Inclusion (TRAIN), in which several tax reform proposals were introduced and discussed.

The Belgian Ministry of Finance intends to introduce mandatory e-invoicing in the clearance model.

Due to high inflation in Poland, the Polish government decided to decrease the VAT rate for basic foods from 5% to 0%.

The governments of three German federal states have decided to take a step towards e-invoicing. The changes were introduced in the new year. So, what is changing from January 1, 2022, in individual federal states?

The National System of e-Invoices (Krajowy System e-Faktur, KSeF) is a platform for issuing and sharing structured invoices.

The Order 1783/2021 on the nature of the information (Official Gazette (Part I) no.1073, dated November 9, 2021 ) states that Romanian taxpayers must send standard tax control files through the D406 Informative Declaration (SAF-T).

The Slovakian government has decided to introduce an additional tax-related requirement for all VAT registered payers in order to decrease VAT fraud.

However, with the introduction of legge del decreto fisco-lavoro n. 146/2021, the abolition of the esterometer, i.e. cross-border transactions relating to the sale of goods and services, was postponed until July, 1st 2022 (instead of January, 1st 2022).

The introduction of obligatory B2G and G2G e-invoicing has been postponed. Originally, the public sector's obligation to receive and store electronic invoices and to issue e-invoices to other public sector entities was to apply from 1st of January 2022.

In Thailand, the clearance approach to e-invoicing is applied. Tax administrations require each invoice to be authorized electronically by them before or during the exchange process.

New rules on cross-border e-invoicing. Changes will become effective from 1st of January 2022

On the 1st of October, the lower house of parliament of Poland almost unanimously adopted the amendment to the VAT act, introducing the KSeF Platform (Krajowy System e-Faktur).

Prepare your company for the National System of e-Invoices (KSeF)

On June 11, 2021, the Bundestag passed the "Act on Corporate Due Diligence in Supply Chains" (Supply Chain Due Diligence Act, LkSG, or Lieferkettengesetz).

In September 2020, the Italian Digitization Agency (Agenzia per l'Italia Digitale- AGID) introduced new "Guidelines on the Formation, Management and Preservation of Computerized Documents", which were due to be enforced as of June 7th, 2021.

In June, the Polish Ministry of Finance announced that the process of analyzing comments submitted as part of public consultations on the draft of the VAT Act amendment implementing the National e-Invoice System called KSeF has been completed.

As part of the Digital Business Plan, the Australian government last year introduced mandatory e-invoicing for all Commonwealth agencies as of July 1st, 2022, hoping that they will be able to receive at least 80% of invoices by July 2021.

The Zakat, Tax and Customs Authority (ZATCA), previously called GAZT, has finished public consultation and published final documentation regarding controls, requirements, procedural rules and technical specification

The Law on Electronic Invoicing was published in the Official Gazette of the Republic of Serbia and came into force in 7th May 2021.

Implementation of mandatory B2B e-invoicing in Egypt began in November 2020, when the Ministry of Finance issued first resolution mandating 134 companies to comply with e-invoicing requirements.

The new regulations will oblige businesses to issue e-invoices within a specific period of time, for any transactions outside of the scope of the B2C cash register system called e-Kasa.

The GAZT has published a draft regulation of the controls, requirements, technical specifications and procedural rules for implementing the provisions of the e-Invoicing regulation, and begun public consultation, which is open until 17th April 2021.

From April 1st, 2021 data disclosure in the previous version (2.0) will be terminated, and currently only the new version (3.0) can be used.

E-invoicing regulations were introduced by the General Authority of Zakat and Tax (GAZT) on December 4th 2020, after being approved by its Board of Directors.

By January 1st, 2021, is was intended that mandatory B2G e-invoicing would apply to all enterprises.

On February 5th the Ministry of Finance published a draft of the VAT Act amendment regarding the implementation of the National e-Invoice System called KSeF (Krajowy System e-Faktur).

E-invoicing has become mandatory for companies operating in India.