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Archive for Asia

Turkey reports massive -environmental- savings due to e-invoicing

According to Finance Minister Mehmet ?im?ek, the Turkish electronic invoicing system has already saved 650 million Turkish Liras ($293 million) of extra costs and prevented 100,000 trees from being cut. The electronic invoicing system, which has been implemented in Turkey since 2010.

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SAP and Ariba Transform e-Procurement in Middle East

October 28, 2014  |  Adoption, Asia, Purchase-to-pay

As little as two years ago, procurement in the Middle East could be summed up in two words: administrative task. But a transformation is underway. Procurement is fast becoming a strategic capability that beyond costs savings and efficiencies, can deliver business innovation and outcomes. And with increasing frequency, companies across the region are turning to SAP and Ariba to drive it.

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Number 47: Qatar is the next compliant country for Tungsten

Number 47: Qatar is the next compliant country for Tungsten

October 22, 2014  |  Asia, Compliance, Electronic Invoicing

Qatar is Tungsten Network's 47th compliant country and the third Middle Eastern nation that Tungsten is legally and operationally compliant in, joining the United Arab Emirates and Saudi Arabia. Qatari suppliers on the Tungsten Network come from a variety of industries, including hospitality, legal, media and telecommunications.

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eFinans acquires e-archive license, first step in Turkish B2C e-invoices

eFinans acquires e-archive license, first step in Turkish B2C e-invoices

September 24, 2014  |  Asia, Compliance, Electronic Invoicing, Legal

eFinans has recently acquired its license to become one of the few Turkish e-Archive solution providers. The e-Archive system facilitates the forming, safekeeping, legal presentation and reporting of all B2C and B2B invoices in electronic format.
The system is mandatory as of 1 January 2016 for firms making online sales in Turkey which have a gross sales of-over- 5 million Turkish Lire (1,745 million Euro / 2,234 million US Dollar) in 2014.

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A new rising trend in Turkey: the mandatory e-ledger (e-accounting)

The Turkey’s taxing authority Turkish Revenue Administration (TRA) announced it is mandatory that all e-invoice taxpayers have to apply for the E-ledger system at the TRA before December 2014. The companies who have to use E-ledger system must keep their Journals and general ledger are included to the scope of this service.

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VinaPhone launches B2B and B2C einvoicing services in Vietnam

August 18, 2014  |  Asia, Electronic Invoicing

The e-invoice is fully valid in accordance with legal regulations, so corporate customers can use it for accounting or tax statement. Additionally, this system also stores invoices for the past 10 years, so customers can store, manage and print for use as necessary.

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Compliant e-invoicing in UAE: country number 46 for Tungsten

July 1, 2014  |  Asia, Compliance, Electronic Invoicing

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.

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Taiwanese Ministry of Finance e-invoice team receives Quality Award

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.

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E-invoicing in Turkey. An overview as from 1 September 2014

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...

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Tungsten extends compliant e-invoicing to 45th country: Saudi Arabia

June 9, 2014  |  Asia, Compliance, Electronic Invoicing

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.

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