July TaxTech Updates
July TaxTech Updates
In July the e-Transformation sector saw many crucial developments. Please read our summary article, which features news and articles published on the SNI Blog in July.
SNI in France: As you already know, France's new electronic invoice system will take effect on January 2024 for the pilot group, and be gradually extended between then and 2026. Unlike other EU countries, France announced a new transmission method named the “Y”-Model.? Main operators will work between the supplier and the recipient. PDP, OD, and PPF will act as a third party.? SNI is in the process of becoming a Plateforme de Dématérialisation Partenaire (PDP) in France, which requires submission of reports, certificates, and documentations set by the General Directorate of Public France (DGFIP). This enables invoices to pass directly between certified private PDP platforms without having to use a public platform. E-Invoices and data can be sent directly to their recipients or the public portal by registered private platforms only. For more please check out the related news .
Germany: The European Commission has released a proposal allowing Germany to implement mandatory electronic invoicing for domestic business-to-business transactions, deviating from the VAT Directive (2006/112/EC). Germany made the request for authorization to be exempt from Articles 218 and 232 of the VAT Directive on November 10, 2022. For more detailed information about the timeline please check out the related news.
Romania: The European Commission has released a proposal granting permission to Romania to introduce mandatory electronic invoicing for B2B transactions starting on January 1, 2024. This permission is necessary for Romania to be able to deviate from Articles 219 and 232 of the EU VAT Directive, which impose limitations on government-mandated e-Invoicing. Romania submitted its application for this permission in 2022, with an initial plan to launch in July of the same year. It is expected that this permission will be granted without opposition. The granted authorization will be valid for a period of three years, from January 2024 to December 2026. For more information, please check out the related news .
Dominican Republic: The Dominican Republic approved and announced the electronic invoicing law on 16th May 2023, requiring taxpayers to issue electronic tax invoices. According to the law, taxpayers will be mandated to issue electronic tax documents. There will be a gradual implementation phase. You can find more information about the timeline of the implementation phases here.
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Malaysia: In a significant move towards modernizing tax systems and enhancing transparency, Malaysia’s Inland Revenue Board (IRBM) has unveiled a major tax reform that will impact all taxpayers engaging in B2G, B2B, and B2C transactions. The comprehensive regulation aims to digitize invoicing and transaction processes while streamlining reporting requirements for both local and international transactions. The new e-Invoice regulations are set to be implemented in phases, with a clear timeline provided by the IRBM. For more detailed information about the timeline please check out the related news.
Poland: There are numerous types of taxation in Poland, some of which apply to various aspects of doing business in the country, such as Corporate Income Tax (CIT) and Personal Income Tax (PIT). In this news , we have reviewed and summarized tax types.
Romania: Romania has recently officially announced the introduction of mandatory B2B e-Invoicing. You can access more details about the proposal here . Romania’s B2B e-Invoicing mandate has been approved by the European Commission and published in council Implementing Decision (EU) 2023/1553 . You can examine some of the key takeaways of the implementation decisions in our news.
Germany: The authorization for Germany to mandate the B2B e-Invoicing has been approved by the European Commission. We have compiled some key information in the decision and presented it in our news.
Kingdom of Saudi Arabia: ZATCA has announced the seventh group of taxpayers. In the second phase of its e-Invoicing implementation, the seventh wave criterion has been announced by ZATCA. According to this announcement, all taxpayers with a revenue of 50 million riyals or more (subject to VAT) in the years 2021-2022 will be obliged to issue e-Invoices. Therefore, taxpayers described in stage seven must be integrated into the FATOORA Platform from February 2024. For more information, see the official announcement and our news .
France: Implementation of electronic invoicing system expected deadline is postponed, previously? it will start in 2024 to 2026. For more information, see the official announcement . However, the new deadline is not officially published yet. On 31 of July Internal Specification file Version 2.3 was published. There are some changes in? e-Invoice/report cases and creation of a separate document.?