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Archive for Compliance

Costa Rican mandatory e-invoicing project restarts from scratch after failing pilot

After five years of trial and error tomandate the use of electronic invoicing in Costa Rica, the e-invoicing project will start again from scratch. The pilot project implemented by the Directorate General of Taxation in 2013 will cease to be effective as of now, as will the software and systems that were purchased for its deployment last year. It is expected that the new infrastructure will be ready by the end of 2014. Read the lessons learned.

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Are you ready for mandatory e-invoicing in Spain? Check it out here!

Electronic invoicing will be mandatory with the Spanish Public Administrationas of January 15, 2015, and there is still a lot of uncertainty around the new Law 25/2013 on promotion of electronic invoicing among Public Administration suppliers and service providers.
To provide an easy and simple answer to all these questions, EDICOM has set up a the website that brings together all the knowledge of the leading expert in developing electronic invoicing systems for use with the Administration.

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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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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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Spanish adoption campaign to prepare for mandatory B2G e-invoicing

According to the Spanish government, the move will enhance security, streamline the invoicing process and result in savings of around EUR 3.48 per invoice issued, EUR 2.78 of which corresponds to the administration and EUR 0.70 to the issuing entity. In total, some EUR 52.5 million a year will be saved, while the time taken to process invoices will be reduced by around 80 percent.

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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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Mandatory e-invoicing is a real shock for Mexican SMEs

For the Mexcican SME taxpayers making electronic invoicing mandatory is somewhat of a radical cultural change en for some of them, a bit awkward, according to the Mexican Association Authorized Certification Providers (Amexipac).
The organization representing Authorized Certification Providers (PAC), said that for some of these taxpayers it is more comfortable to remain outside the technological evolution, even though it is inevitable in tax matters.

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Cegedim and CIC Advance Electronic Signatures in Europe

Cegedim and CIC have announced that CIC’s electronic signature technology, powering Cegedim's MAEA software suite, is now available for full commercial production.
Cegedim and CIC currently deliver this cutting-edge and cost-effective solution in pilots in two major industrial sectors. In these solutions, CIC technology is handling e-signatures to place and approve electronic orders and invoices, as well as to approve payments.

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Ecuador joins LATAM by making compliant einvoicing mandatory as from june 2014

Ecuador is joining the Latin American Community mandatory e-invoicing compliance. Ecuadorian Resolution NAC- DGERCGC13 - 00236 for mandatory integration of Electronic Invoicing or Factura Electrónica affects several transaction documents (and therefore also industries): Invoices, Tax Withholding Receipts, Bills of Lading (Remisión), Credit Notes and Debit Notes. The mandate is required only for transactions that support tax credit of Value Added Tax. There are four deadlines currently in place for different Taxable entities in Ecuador.

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Italy shortens its mandatory B2G einvoicing implementation deadline

As of June 6 2014, electronic invoicing will be mandatory for Italian ministries, the Tax Agency and state security bodies, as well as their suppliers. Other public agencies and their suppliers will have to join nine months later. So, the rollout of electronic invoicing in the Italian Public Sector will be completed by 31 March 2015. The initial deadline for switchover completion was 6 June 2015, one year after the first stage was started up. However, the Decree-Law issued on 24 April in the Official Gazette brought this period forward two months.

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