Welcome to our biweekly newsletter, your essential source for the latest updates on global tax compliance and e-invoicing. Stay informed about key regulatory changes, industry trends, and innovative solutions in countries like Romania, Serbia, Greece, Spain, Poland, and Egypt that can help your business stay compliant and efficient in a rapidly evolving landscape.
Stay informed and ensure your business remains compliant and efficient with our latest updates.
Updates on E-Invoicing Compliance
- Romania: E-Transport and E-VAT Sanctions Postponed to January 2025
Romania’s Ministry of Finance has introduced key updates to the e-Transport, e-VAT, and e-invoice systems. Sanctions for e-Transport and e-VAT are now postponed to January 2025, while B2C e-invoicing will become mandatory from July 2025. Additional changes include an extended deadline for VAT justifications and updated compliance procedures.
The Romanian National Agency for Fiscal Administration (ANAF) has released a comprehensive brochure with clear guidelines on how to complete declarations in the RO e-TVA system.
- Serbia: SEF Update 3.10 Now Available in the System’s DEMO Environment
The SEF Update 3.10 is now live in the demo environment, offering new features to improve your e-invoicing experience. Explore enhancements like a user-friendly interface for prior tax recording and streamlined API access.
- Greece Updates E-Delivery Framework: Key Changes for 2024 Implementation
Greece has refined its e-delivery system with new rules for 2024, enhancing transparency and efficiency for businesses. Introduced under Law 4308/2014, the updates include two key phases:
- Phase 1 (Dec 1, 2024): Companies must issue and send e-delivery documents through myDATA, notifying recipients via VAT numbers.
- Phase 2 (Apr 1, 2025): Businesses will monitor goods in transit and report real-time changes in quality and quantity.
Key requirements involve real-time transmission with a MARK and QR code, timely reporting by recipients, and documenting any discrepancies within 15 days. Non-compliance may lead to fines up to EUR 20,000 per year. Businesses must ensure adherence to avoid penalties.
- Spain’s AEAT Releases New VeriFactu Technical Document & Key Updates
The Spanish Tax Administration (AEAT) has published new technical documents for Spain’s fiscalization process under VeriFactu. Although the full ministerial order is still pending, the key updates include:
Technical Specifications for VeriFactu: This document details how to generate electronic signatures for billing records, ensuring compliance with Royal Decree 1007/2023. It covers processes for registering, canceling, and signing event records.
Updates to Existing Documents:
- Hash Generation Specs: Clarifications on handling numeric values and new examples for correct implementation.
- Invoice QR Code Specs: Updated examples for accurate QR code generation.
- Potential Postponement for Poland’s SAF-T JPK_CIT
In August 2024, Poland’s Ministry of Finance added new components to the JPK_CIT reporting, set to begin in phases from January 2025. However, a draft regulation proposed on September 10 may allow certain taxpayers to skip submitting JPK_KR_PD and JPK_ST_KR files. This draft is not yet finalized, so further updates or delays could follow in the coming months.
- Egypt Introduces Mandatory TRN & UIN Validation for B2B VAT Compliance
From November 1, 2024, businesses selling into Egypt must validate both the Tax Registration Number (TRN) and Unique Identification Number (UIN) of B2B buyers for VAT compliance. Non-resident vendors providing digital services must register with the Egyptian Tax Authority (ETA) to access the validation system.
Key Dates:
- October 1, 2024: Apply for UINs.
- November 1, 2024: TRN and UIN validation is mandatory.
API integration with ETA is required for real-time validation to enhance VAT compliance and reduce fraud.
We understand that tax compliance can be overwhelming. That’s why we’re here to help. Our team of experts is equipped to provide you with the guidance and support you need to navigate the complexities of tax compliance with confidence.
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