Video: The latest tax compliance updates
As part of a move toward mandatory e-invoicing, the Danish Parliament passed a new Accounting Act on 19 May 2022, which includes new requirements concerning digital bookkeeping and digital bookkeeping systems.
These include Continuous Transaction Controls (CTCs) and storage of records for 5 years. Organisations must also meet new IT security standards and be able to automatically receive and transmit e-invoices.
The technical requirements will be set up in 2022 and become mandatory in mid-2023.
In Belgium public bodies have to be able to receive e-invoices. Belgium is now expanding the e-invoicing mandate to public body contractors as well.
In line with the publishing of the Royal Decree in March 2022, Belgium plans to extend the mandate over the next 18 months to include public body suppliers, based on their contracts.
- 1 October 2022 (or 6 months after the publishing of the Decree) - for contracts above €215,000
- 1 April 2023 or (12 months after the publishing of the Decree) - for contracts equal or greater than €30,000
- 1 October 2023 or (18 months after the publishing of the Decree) - for contracts below €30,000
Contracts valued at €3,000 or less are exempted from these changes.
Belgium has also proposed B2B electronic invoicing. The Belgium Chamber of Representatives aims to implement the proposal by 1 January 2025.
From 1 October 2022, payment slips are to be replaced with QR-Rechnung and eBill alternatives.
Since June 2022, the QR-bill has gradually replaced the current payment slips system. A move designed to create more efficient digitised payment transactions.
Once again, the Portuguese government has delayed the implementation of mandatory B2G e-invoicing for small, medium and microenterprises. Previously due to come into effect on 1 July 2022, this now means that B2G invoicing will only be mandatory for SMEs from 1 January 2023.
Poland’s implementation of mandatory B2B electronic invoicing and CTC has been pushed back from 1 April 2023 to 1 January 2024.
The Slovakian Ministry of Finance and the Financial Institution recently introduced a new e-invoicing information system, known as the IS EFA (Informačný System Elektronickej Fakturácie).
The IS EFA ensures the implementation of the Directive 2014/55/EU. A directive set up to ensure that public contractors can receive electronic invoices.
According to the IS EFA website, the system will be introduced in two phases:
- 1 June 2022 - public test run of the system
- 1 January 2023 - in operation for all stakeholders in B2G, G2G and G2B sectors
It’s anticipated that at a later stage, the IS EFA system’s remit will be extended to cover the planned requirements of data transmission from the taxpayer to the Financial Authorities.
On 8 June 2022 the Mexican SAT (Servicio de Administración Tributaria) informed taxpayers that the mandatory switch to the new 4.0 version of the electronic invoicing CFDI (Comprobantes Fiscal Digital por Internet) scheme will be postponed until January 2023.
Despite this, the SAT is encouraging taxpayers to use the CFDI 4.0, to ensure they’re ready in time.
In Saudi Arabia, e-invoicing was first introduced in December 2021. CTCs are already in place for companies with over 3 billion SAR in revenue.
Following this, ZATCA (Zakat, Tax and Customs Authority) wants all systems to integrate with their FATOORA e-invoicing platform, while also allowing for additional invoice fields to be included.