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Archive for Europe

Foriba to make new expansions to Europe, Latin America, Asia Pacific and Central Asia.

February 6, 2018  |  Asia, Europe, Latin America

Whether the country has regulatory obligations or not, if a client in any country, uses the Foriba common platform, they would be in compliance with invoicing and audit format of the country that they are in service.

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Basware sells its Financial Performance Solutions and Banking businesses

Basware Corporation has signed an agreement to sell its Financial Performance Solutions and Banking businesses to Verdane Capital, an active owner of technology-enabled growth companies in Northern Europe.

The combined sale price of the two businesses is approximately EUR 35.0 million, subject to certain adjustments. In 2017, the net sales of the business operations agreed to be sold were approximately EUR 15 million and direct carved out costs approximately EUR 7 million.

The transaction is expected to be completed as soon as possible in the first quarter of 2018. There are no conditions precedents for transaction closing. The transaction price will be paid in cash in connection with the closing of the transaction. 95 employees will be transferred to the buyer.

Vesa Tykkylainen, CEO, Basware Corporation:
“The sale is aligned with our cloud-focused global growth strategy. Financial Performance Solutions and Banking have been part of our heritage and we are proud of the solutions. However, they have been primarily Finland specific non-cloud businesses and are thus not aligned with our strategy. The disposal enables us to simplify and focus our energy and attention fully on our high growing cloud business.”

 

Italy’s e-invoicing mandate, Trustweaver will help you remain compliant

The Italian e-invoicing mandate resembles the status in many Latin American and other emerging economies: the invoice must be submitted to an online government platform before it is considered as issued for tax purposes.

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VAT Number Validation and the VAT Information Exchange System (VIES)

January 24, 2018  |  Compliance, Europe

SNI? ?VIES? solution is an SAP Add-on? is integrated with the European commission database and able you to verify any VAT number online directly from SAP.

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Top three challenges of SAP-based e-invoicing and VAT reporting

As tax authorities in Latin America, and now Europe, adopt new e-invoicing and e-accounting initiatives, companies are realizing that SAP is not equipped to support the unique needs from country to country.

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Ireland and Poland connect with PEPPOL to comply with EU Directive

January 18, 2018  |  Electronic Invoicing, Europe, Mandatory

That systems chosen are similar to other systems in use by other EU countries like Spain (Facturae) or France (Chorus Pro). This e-Invoicing model counts on an online portal which will act as intermediary between businesses and the Public Administration.

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Italy: mandatory B2B e-invoicing as of January 2019!!

Italy: mandatory B2B e-invoicing as of January 2019!!

The amended Legislative Decree 127 of August 5, 2015, includes transactions between private entities within e-invoicing processes. Business will be required to transmit their bills through the SdI (Sistema di Interscambio) exchange system and in the XML format defined by the Revenue Agency (Agenzia delle Entrate) as of July 2019.

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S4FN SAP Solution for Hungary’s mandatory SAF-T in July 2018

January 10, 2018  |  Compliance, Europe, Financial software

The requirement will also apply to entities that are VAT registered in Hungary as well as to those whose invoicing function is managed abroad. Failure to meet the new obligation may result in a penalty up to HUF500,000 (approx. €1,700) per invoice.

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SNI provides a SAP add-on solution for Hungary’s Real Time Invoicing in July 2018

January 10, 2018  |  Compliance, Electronic Invoicing, Europe

SNI provides a SAP add-on for Real Time Invoicing in Hungary. The solution runs over SAP ECC, compatible with Hungary Tax Agency standards, covers the steps of creation Invoicing Records in XML format in SAP. 

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Updates in e-Invoicing and e-VAT in the EU in 2018

January 10, 2018  |  Compliance, Electronic Invoicing, Europe

2018 is a key year set by Directive 2014/55/EU. Also, systems such as electronic VAT returns or e-accounting through SAF-T have been on the rise in recent years among European businesses. Check out this country by country overview.

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