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HIGHLIGHTS
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Bosnia and Herzegovina Prepares for Mandatory e-Invoicing: Proposed Bill for 2025
- Introduction of Mandatory E-Invoicing:Bosnia and Herzegovina is drafting a bill to introduce mandatory electronic invoicing, expected to be presented to parliament in early 2025. This legislation aims to establish live reporting requirements to government tax authorities, targeting tax fraud in e-commerce and digital platforms.
- Objectives to Combat Tax Fraud:The primary goal of this mandate is to increase tax transparency, ensure real-time oversight of transactions, and align with international e-Invoicing standards, thereby addressing widespread invoice fraud in online and digital commerce.
- Anticipated Structure and Scope:The new system is expected to follow the EU e-Invoicing directive, starting with B2G (Business-to-Government) public procurement and eventually expanding to B2B (Business-to-Business) transactions, ensuring alignment with regional and international practices.
- Impact on Businesses:Businesses will need to transition to digital systems, invest in e-Invoicing software that meets new standards, and ensure their systems can facilitate real-time reporting to tax authorities. Familiarizing themselves with EU e-Invoicing directives will be crucial for compliance.
- Government’s Commitment to Compliance:The government’s commitment to fostering greater tax compliance and transparency is evident through this initiative. By aligning its e-Invoicing framework with EU standards and expanding its scope, Bosnia and Herzegovina aims to create a more efficient and fraud-resistant tax ecosystem, encouraging businesses to stay informed and prepared for upcoming changes.
- Denmark – Greenland:E-invoicing for public entities in Greenland will come into effect in 2025
- Mandatory E-invoicing for Public Sector: Starting from 1 March 2025, the Government of Greenland mandates that all legal and natural persons must send digital invoices when delivering goods or services to public authorities, defining digital invoices as those that can be processed automatically and digitally.
- Registration and Information Requirements: Public authorities must be registered in the joint public NemHandelsRegister and include specific details such as CVR number, GLN number, reference person, order/requisition number, and account string in contracts, orders, or requisitions.
- Exemptions and Compliance: Entities below a certain annual turnover, yet to be determined by the municipal board, will be exempt from this e-invoicing requirement. Non-compliant electronic invoices that cannot be processed digitally will be rejected.
- ұԲ:FAQ: Mandatory E-Invoice Implementation from January 1, 2025 – Answers to Common Questions
- Mandatory E-Invoicing Introduction: From January 1, 2025, electronic invoicing (e-invoicing) will be mandatory for sales between domestic entrepreneurs in Germany, excluding transactions with private end consumers.
- Definition and Compliance: E-invoices must be issued, transmitted, and received in a structured electronic format enabling electronic processing. Simple PDFs and paper invoices will not meet this requirement after the deadline.
- Transitional Regulations: Until December 31, 2026, businesses can still issue non-e-invoices, such as paper invoices, with recipient consent. For businesses with annual turnover up to EUR 800,000, the deadline extends to the end of 2027.
- Exceptions and Requirements: Certain transactions, like those to end consumers or small amounts, are exempt from mandatory e-invoicing. However, all domestic companies must be able to receive e-invoices starting January 1, 2025.
- Storage and Submission: E-invoices must be stored in an unchangeable format for eight years. From January 1, 2025, taxpayers can submit electronic invoices to tax authorities via ELSTER upon request.
- Latvia mandates e-invoicing with amendments to the Accounting Law published
- From 1 January 2025, resident business and budget entities in Latvia must send e-invoices for contracts signed from this date, with B2G e-invoicing mandatory for resident companies and budget entities.
- A transition period allows submitting e-invoices for B2G contracts signed by 31 December 2024 until 1 January 2026, when B2B e-invoicing and invoice data reporting to the State Revenue Service (SRS) become mandatory.
- Rules for B2B e-invoices and reporting will be announced in May 2025, and e-invoices must comply with EU standards LVS EN 16931-1:2017 and LVS CEN/TS 16931-2:2017.
- Slovakia’s New Electronic Transaction Control Statement for VAT Reporting: A Step Towards Mandatory E-Invoicing
- Electronic Transaction Control Statement: Slovakia introduced an electronic transaction control statement report from January 1, 2024, required in support of the VAT return and applicable to both resident and non-resident businesses, filled monthly or quarterly based on the reporting cycle.
- Future E-Invoicing Plans: Currently, the control statement is uploaded via the government portal, but there are plans to launch mandatory e-invoicing to replace it. VATCalc’s VAT Filer product can produce these control statements, ensuring compliance with Slovakian and EU VAT laws.
- Ukrainian Ministry of Finance Implements New SAF-T UA 2.0 for Transactional Level Reporting
- Mandatory SAF-T UA Submission: Since August 27, 2021, large taxpayers in Ukraine must submit Standard Audit Tax Files (SAF-T UA) within two business days when requested during audits. This requirement became mandatory for all large taxpayers on January 1, 2025, and will extend to all VAT payers by January 1, 2027.
- Preparation for Implementation: The Ukrainian State Tax Service (STS) is upgrading its electronic systems and advising large taxpayers to ensure they are prepared for prompt audit responses. Order No. 561 specifies that SAF-T UA submissions must include detailed data such as accounting records, tax details, and supporting source documents.
- Addressing Implementation Challenges: To tackle technical challenges, a collaborative meeting was held involving the State Tax Service, Ministry of Finance, National Bank, banking associations, and IT companies. The meeting focused on converting banking data into SAF-T UA format, with tax service experts emphasizing the importance of ongoing collaboration and test runs.
- Key Steps for Taxpayers: Taxpayers must ensure their software systems can handle SAF-T UA requirements, maintain precise records, and meet strict submission deadlines. Proper preparation is essential to achieve compliance and avoid penalties as the implementation deadlines approach.
- Further Information: For more details on e-invoicing and upcoming regulations in Ukraine, additional resources are available to help businesses stay informed and compliant.
Australia
Bolivia
Bosnia and Herzegovina
- Bosnia and Herzegovina Prepares for Mandatory e-Invoicing: Proposed Bill for 2025
- Bosnia and Herzegovina to Introduce Mandatory E-Invoicing and Reporting for Online Transactions
Chile
Colombia
Costa Rica
- Costa Rica Establishes New Regulations on Electronic Invoices
- Costa Rica VAT E-invoicing update
- Costa Rica’s DGT Updates E-Invoicing and Receipts Technical Specifications for June 2025
- Final Resolution on Electronic Invoicing Technical Requirements by Tax Administration
- Costa Rica Introduces New Technical Provisions for E-Invoices Effective June 1, 2025
- Costa Rica Introduces New E-Invoice Regulations for Tax Compliance
Denmark
- Greenland’s Digital Invoicing Regulation: Effective March 1, 2025 for Public Entities
- Greenland Mandates E-Invoicing for Public Entities Starting in 2025
- E-invoicing for public entities in Greenland will come into effect in 2025
- Denmark Expands SAF-T Requirement to Include Unregistered ERP Systems
- Summary of E-Invoicing and E-Reporting in Denmark
Europe
European Union
- The European Council Reaches Consensus on the ViDA Proposal
- EU 2028 Single Customs Authority; Data Hub; Scraps €150 Customs & VAT Thresholds
- E-Bill Obligation for Intra-EU Transactions from 1 July 2030
- VIDA: E-Invoicing and Digital Reporting
- VAT in the Digital Age (“ViDA”) – 10 key insights for success
- A Proposal for VAT in the Digital Age (ViDA) has been Approved
European Union/ Singapore
France
Germany
- Ensuring E-Invoice Compliance for Cross-Border Trade in Germany
- E-Invoicing for B2B vs. B2G Transactions in Germany: Key Differences and Benefits
- Germany: B2B E-Invoicing Updates
- German B2B e-invoicing 2025-28 new FAQ’s
- FAQ: Mandatory E-Invoice Implementation from January 1, 2025 – Answers to Common Questions
- Germany Publishes Final Regulatory Guidance for Upcoming E-Invoicing Mandate
- Factur-X 1.07/ZUGFeRD 2.3 Updated for Hybrid E-Invoicing as of November 15, 2024
Greece
Japan
Latvia
- Update – Latvia Introduces Mandatory B2B and B2G e-Invoicing and Reporting Requirements
- Latvia Implements Mandatory B2B and B2G e-Invoicing and Reporting Requirements
- Latvia Mandates E-Invoicing for Business-to-Government Transactions Starting 2025
- Latvia mandates e-invoicing with amendments to the Accounting Law published
- Latvia Implements Mandatory B2G and B2B e-Invoicing Under Amended Accounting Law
Malaysia
Mexico
New Zealand
Poland
- Scheduled Maintenance on UBD and KMDOR Test Environments – 26.11.2024 from 11:00 to 15:00
- Mandatory e-Invoicing Changes: What to Expect from the New Project?
- Poland’s Draft KSeF Amendments: Public Consultation Open Until 22 November 2024
- Changes in Consumer Invoicing through KSeF: Impact and Implementation Details
Portugal
- Portugal Extends Recognition of PDF Invoices as “Electronic” Until End of 2025
- Portugal Delays QES and SAF-T Mandates: What Businesses Need to Know
- Portugal: SAF-T Postponed to 2026
Romania
Saudi Arabia
Serbia
Singapore
- Singapore Publishes Summary of Responses on Draft GST Guide on Adopting InvoiceNow Requirement for GST-registered Businesses
- Singapore’s Response Summary on Draft GST Guide for Implementing InvoiceNow for GST-Registered Businesses
- Singapore’s Summary of Responses to Draft GST Guide for InvoiceNow Requirement for Businesses
- Implementing InvoiceNow: IRAS Response to Public Consultation on GST e-Tax Guide
Slovakia
South Africa
Spain
- Spain Approves Invoicing Software Specifications for Taxpayers not Using Electronic VAT System
- Spain Updates E-Invoicing Standards with Order HAC/1177/2024
Ukraine
- Ukraine Introduces SAF-T UA Requirements for Enhanced Tax Compliance
- Ukrainian Ministry of Finance Implements New SAF-T UA 2.0 for Transactional Level Reporting
- Updated version of the Detailed Technical Description of SAF-T UA 2.0 elements
United Arab Emirates
Webinars / Events
- Comarch Webinar: Global E-Invoicing Mandates – Trends, Strategies & Key Deadlines (Dec 3)
- Sovos Webinar – Maximizing Business Value with SAF-T: More Than Just a Tax Reporting Tool (Dec 5)
- RTC Webinar – Beyond Compliance: A Complete Approach to e-Invoicing and e-Reporting (Nov 27)
- ecosio Webinar: E-invoicing in Singapore (Dec 6)
World
- Common Errors in E-Invoicing
- Classic EDI vs Network Interoperability
- A Brief History of Peppol
- Global 2024 VAT / GST changes
- E-Invoicing & E-Reporting developments in the news in week 46/2024
See also
- E-Invoicing & E-Reporting developments in the news in week 46/2024
- E-Invoicing & E-Reporting developments in the news in week 45/2024
- E-Invoicing & E-Reporting developments in the news in week 44/2024
- E-Invoicing & E-Reporting developments in the news in week 43/2024
- E-Invoicing & E-Reporting developments in the news in week 42/2024
- E-Invoicing & E-Reporting developments in the news in week 41/2024
- E-Invoicing & E-Reporting developments in the news in week 40/2024
- E-Invoicing & E-Reporting developments in the news in week 39/2024
- E-Invoicing & E-Reporting developments in the news in week 38/2024
- E-Invoicing & E-Reporting developments in the news in week 37/2024
- E-Invoicing & E-Reporting developments in the news in week 36/2024
- E-Invoicing & E-Reporting developments in the news in week 35/2024
- Worldwide Upcoming E-Invoicing mandates, implementations and changes – Chronological
- Join the Linkedin Group onGlobal E-Invoicing/E-Reporting/SAF-T Developments, click
- Join the LinkedIn Group on”VAT in the Digital Age”(VIDA), click