Legal Regulation Changes

In preparation for the upcoming electronic invoicing mandate for business-to-business transactions, Germany's Ministry of Finance released a draft regulation for public comment on June 13, 2024.

Tick-tock! The clock is ticking on the EU's VAT in the Digital Age proposal. Unpack key areas of ViDA – tackling the current patchwork of e-invoicing, navigating the complexities of the platform economy, and simplifying multi-country VAT registration.

An eleventh-hour attempt by Belgium, holding the rotating presidency of the EU Council, to bridge the divide failed to win over Estonia's rejection of Pillar 2, which governs online marketplaces.

E-invoicing mandates are sweeping across Europe, promising efficiency and cost savings. But what if the deadlines aren't quite what they seem? Explore the recent delays in these mandates using real-world examples from France, Poland, Belgium, and Spain.

Romanian companies holding Authorized Economic Operator (AEO) certification have been granted a reprieve regarding compliance with the RO e-Transport system for international road transport.

On May 30, 2024, the Cabinet of Ministers of Ukraine adopted Resolution No. 629 on the implementation of an experimental project on the introduction of electronic consignment note in the field of domestic freight transportation.

The bill published by the Romanian Ministry of Finance is aiming to continue the expansion of country’s e-invoicing mandates as the final stage of B2B electronic invoicing is being introduced by the start of July.

The government's revision, implemented on April 29th, updated a comprehensive assortment of products and services encompassed by the RO e-transport regulations.

The Malaysian Inland Revenue Board (IRD) recently launched a trial environment for its e-invoicing system, MyInvois.

On June 5, 2024, Polish President Andrzej Duda signed an amendment to the previously applicable regulations specifying the date of entry into force of the obligation to use KSeF.

The Croatian government aims to modernize its entire tax system through "Fiscalization Project 2.0." This initiative will introduce a new system for e-invoicing, electronic archiving, and online bookkeeping.

Despite the ongoing war, Ukrainian business stands strong, and the innovations in electronic document interchange are robust.

The Estonian government approved a final version of their newest bill, amending an Accounting Law regarding e-invoicing, which is projected to enter force in 2025. 

On the 30th of April 2024, the Polish government accepted a draft bill paving the way forward to postponing the July 2024 implementation of the KSeF e-invoicing system obligation.

Singapore’s Inland Revenue Authority (IRAS) announced plans to allow broader use of the country’s new InvoiceNow system.

Germany is currently undergoing a significant change towards mandatory electronic invoice exchange between companies. With the approval of the Growth Opportunities Act in March 2024, the introduction of the e-invoicing requirement has also been decided.

The adoption of electronic invoicing plays a big role in global digitization initiatives and in combating the VAT gap and tax fraud. How are EU countries approaching these changes in tax legislation?

The electronic invoicing mandate in Romania was officially implemented on January 1, 2024, and now all B2B invoices have to be processed through the RO e-Factura platform.

Today’s technological advancements necessitate digitization of more and more areas of our lives. The adoption of e-invoicing is one of the big transformations that is happening in multiple countries all over the world.

The long-awaited Decree No. 2024-266 includes provisions regulating a transitional period before the e-invoicing mandate introduction as well as laws pertaining to partner dematerialization platforms (PDP) registration.

Let’s explore the timeline and critical aspects of Romania's e-invoicing journey, especially the grace period and the start of the e-invoicing obligation.

Israeli Revenue Service’s (IRS) ambitious plans to launch a B2B e-invoicing system are facing a delay once again. This time, the initial phase of the invoicing mandate was delayed by a month, that is until May 5th 2024.

The Bundesrat has approved the Growth Opportunities Act (Wachstumschancengesetz) by a clear majority.

The Ministry of Finance (MoF) organized a series of meetings to discuss issues related to the mandatory use of the National e-Invoicing System (KSeF). The main objective was to gather feedback from various stakeholders to ensure a smooth implementation.

The Bundestag adopted the recommended resolution for the Growth Opportunities Act (“Wachstumschancegesetz”) on February 23, 2024, which will introduce significant changes in the area of electronic invoicing. However, the Bundesrat must approve the law to enter into force finally. The next meeting is scheduled for March 22, 2024.

On February 2nd, 2024, the European Commission published a written paper summarizing a report on the effects of Directive 2014/55/EU on electronic invoicing in public procurement and its uptake. 

On February 20th, 2024, the Belgian legislation mandating B2B e-invoicing was officially published in a public gazette. This is a final step to confirming the mandate’s January 1st, 2026, introduction deadline.

After teasing the possible introduction of a decentralized electronic invoicing system earlier in 2023, the UAE’s tax authorities announced further details of a proposed solution.

On February 9th, the Polish Ministry of Finance released the schedule for an upcoming series of public consultations addressing the postponed implementation of the B2B National e-Invoice System (Krajowy System e-Faktur, KSeF)

On February 9th, Malaysia’s Inland Revenue Board, the country’s tax authority responsible for introducing the electronic invoicing system.

The Inland Revenue Board of Malaysia (LHDNM) plans to introduce mandatory electronic invoicing gradually.

In January, the French Tax Administration published a list of entities applying for certification of their electronic invoicing solutions as a Partner Dematerialization Platform.

The long-awaited draft document with proposed mandatory B2B e-Invoicing regulations was submitted to the Belgian parliament on January 5th, 2024. Last year’s political turmoil threatened the invoicing project as it was part of a contested budgetary bill.

During a press briefing on January 19th 2024 Poland’s Minister of Finance announced a postponement of the National e-Invoice System (Krajowy System e-Faktur, KSeF) obligation introduction. Initially, a nationwide mandate was set to come into force on July 1st 2024.

This article marks the second installment of our two-part series providing an in-depth exploration of the current landscape of e-invoicing adoption in the U.S.

Unlike several nations worldwide embracing the efficiency and transparency of electronic invoicing, the U.S. remains without a comprehensive requirement for businesses engaged in B2B transactions.

In the heart of Europe, Germany is undergoing a significant transition, shifting away from paper-based invoices to embrace a mandatory electronic invoicing framework tailored for B2B transactions.

Malaysia stands out as one of the countries undergoing a significant shift towards mandatory electronic invoicing.

Spanish authorities initially set out to roll out a B2B electronic invoicing obligation as early as January 2025. However, with the recent events around forming a new government, the relevant legislation has yet to be officially introduced.

Israel's concrete plans for implementing an e-invoicing system position the country within a rapidly expanding group of countries, modernizing their tax compliance through next-generation solutions.

The Billentis global market report underscores the significance of this shift, projecting the APAC region to achieve the highest annual e-invoice volume growth rates compared to Latin America and Europe until 2025.

Clarifying a new schedule for the system has been the subject of an intense parliamentary debate, as it is attached to 2024’s budget act.

The Ministry of Finance initiated a first round of talks regarding two executive decrees aimed at regulating the use of the KSeF e-invoicing system from day one of its nationwide mandatory use on July 1st, 2024. 

Portuguese Tax and Customs Authority decided to postpone introducing a requirement for the invoices in PDF format to feature the Qualified Electronic Signature

In a recent vote, Bundestag approved a plan to extend a schedule for introducing a nationwide e-invoice issuing mandate. The German parliament’s lower house lengthened the previously adopted plan by a whole year.

After the initial governmental amendment to the 2024 budget bill postponing France’s ambitious invoicing system kick-off to 2026, the Senate is poised to propose its updated timeline along with the financial committee’s advice. 

A push to digitalize the Chinese invoicing ecosystem entered an active phase in 2021 when the first provinces initiated the e-fapiao pilot.

After announcing the preliminary e-invoicing schedule earlier this year, the IRBM, Malaysia’s internal revenue authority, updated project documentation with more definitive introduction dates.

Due to the inability to agree on crucial ViDA policy factors and the current Spanish EU presidency ending, prospects for successfully negotiating ViDA’s final details in the nearest months are waning.

The Balkan country is set to become another state embracing B2B electronic invoicing in its transaction clearance flavor. This follows a 2019 introduction of B2G e-invoicing obligation.