Archive for Compliance
The global focus on curbing tax fraud is shifting into high gear, as reporting deadlines under the OECD’s new Common Reporting Standard draw nearer. Three separate requirements, in particular, are paving the way for a more comprehensive global initiative set to take effect next year: FATCA, CDOT and FEI.
Read MoreInvoiceware International has tons of experience and knowledge in e-invoicing, AP automation and accounting compliance in Latin American countries. Underneath is an update of their most recent thoughts that they shared with te world.
Read MoreThe mandate will be gradually enforced and comes ahead of the introduction of new taxes over the next two years. The new taxation initiatives are part of the Saudi government’s aim to diversify its revenue streams while oil prices remain low.
Read MoreThe EDICOM e-Invoicing Observatory has applied its knowledge to draft a guide with the requirements and technical features of the e-billing schema in different Latin American countries. Find out how to approach this technological challenge successfully with EDICOM’s White Paper.
Read MoreAfter a shaky start, the Spanish Ministry of Finance states that the process of implementation of this plan has been a success. At the moment, suppliers have sent nine million electronic invoices for a superior value of 46,000 billion Euro.
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The German Ministry of Internal Affairs (BMI) has drafted new legislation to transpose the EU Directive 2014/55/EU into German legislation. However, the new German draft regulation has an ambition that goes far beyond the EU Directive 2014/55/EU.
It shall for example affect all invoices, regardless of the amount. In addition it paves the way for the government to define further requirements, for instance mandating suppliers to send invoices just in electronic format. The latter however has net yet been drafted.
More and more Uruguayan businesses are signing up to Because they have to. Last June 1st was the first deadline set by the General Tax Directorate (DGI) for 2016. Since then, all taxpayers that had sales to the tune of 30 million IU or more last year are required to issue VAT compliant e-invoices (CFE).
Read MoreThe Dutch Ministry of Economic Affairs has decided that for all contracts signed after 1 January 2017, only accept XML electronic invoices from suppliers will be accepted. The Dutch government hopes to encourage other municipalities, provinces and water management organisations to switch as well. As these are not yet obliged to do so, yet.
Read MoreAndy Hovancik, CEO of global compliance solution Sovos Compliance, helps multinationals like Coca-Cola, Nationwide, Fidelity and 3,000 other clients comply with complex tax regulations like those in the E.U., and he anticipates two key benefits from Britain’s exit.
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Since July 2015, the Directorate General of Taxes have been mandating enterprises in the Java and Bali region to use e-invoicing. In addition, it has since then also pointed out to all buyers of goods and services who receive tax invoices, to ensure that the received tax invoice received is an e-invoice (or and e-bill, from the consumer’s perspective).
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