Archive for Asia
Having completed a thorough review of Emirati commercial law, Tungsten Network now allows customers to send and receive electronic invoices that qualify as a legal invoice in the UAE.
So why are the United Arab Emirates so important to Tungsten, you might ask. Well, that is because the UAE is one of the Middle East’s largest economies, one of the world’s most important business hubs and appointed by Tungsten clients as a key market.
The Taiwanese Ministry of Finance has won a special Government Service Quality Awards for its e-invoice team. The Government Service Quality Awards are the highest honor for Taiwanese government agencies providing excellent service quality. The "Special Award" is given to agencies that have made outstanding contributions to improve service process, and achieve tangible benefits.Read More
Even though Turkey has its eye on being a member of the European Union, there are quite some differences. One such difference is the way e-invoicing is shaped. Firstly e-invoicing will become mandatory for certain companies as from 1 September 2014. Secondly, the Turkish Revenue Administration acts as a hub. Thirdly, e-signatures are required. And fourth E-invoicing Service Providers need formal approval. Time for an overview...Read More
Countries all over the world start implementing e-invoicing. And with it, they mostly develop fiscal e-invoicing schemes that differ from state tot state. That is why it is important to have a service provider that provides compliance in the states where your customers/suppliers are situated.
Recently Tungsten added Saudi Arabia to its already impressive list of countries where they help organisations to streamline their processes and to achieve compliant straight-through processing.
Today the first edition of the Arab World Online Payment Report. The report provides in-depth analysis of the state of e-commerce, e-payment and bill presentment over the past ten years in the UAE, Saudi Arabia, Egypt, and Kuwait.Read More
The winner of this years RFID Green Award, the Fiscal Information Agency of the Taiwanese Ministry of Finance, said that there are about 8 billion uniform invoices (most of them B2C receipts) issued annually in Taiwan. The amount of paper consumption for these 8 billion invoices equals to 80,000 trees felled as well as the 3,200 tons of carbon dioxide emission.Read More
Jordan has introduced eFawateerCom. The nationwide EBPP platform that lets people receive and pay their bills electronically from computers, ATMs and POS terminals from all over the country.
Most of the large Jordanian billers are "expected" to join eFawateerCom within the next 12-16 months. Meanwhile the Jordan government will use the platform to manage customs duties and taxes, again combating tax avoidance
Fawry, the leading Egyptian Electronic Bill Presentment and Payment (EBPP) platform in Egypt, has plans to expand regionally, starting with the UAE to be followed by other GCC markets Fawry allows consumers from across the socio-economic strata in more than 300 cities and suburbs across Egypt to pay for their bills online, on mobile and at more than 40,000 points of presence across the nation, including 15 banks and 4200 ATMs; 1300 Egypt Post branches; 35000 retailers comprising pharmacies, supermarkets and convenience stores; as well as mobile and internet. Currently, more than one million transactions are processed daily via FawryRead More
In July of this year GSIS, the Government Service Insurance System, (the agency responsible to provide and administer the social security benefits for government employees in the Philippines) will be launching an online billing and payment application.
The Electronic Billing and Collection System (eBCS) is a web-based application that will enable GSIS to send its billing statements for premium and loan amortisation to government agencies electronically, and accept payments online.
Malaysia introduced a new goods and services (GST) tax to be introduced in April 2015. The new tax will be levied at 6 per cent. The GST, unveiled in Malaysia's 2014 Budget, will replace the country's current sales and services tax of up to 16 per cent. Essential food items such as flour and rice, as well as bus and train fares, will be exempted. Oscar Ferreira raised the question in our LinkedIN group: “With the upcoming developments on GST does anybody experienced e-invoicing for a Malaysian buyer organization? Any contribution is appreciated.”Read More