Kenya is introducing an electronic tax system to monitor VAT payments. Kenyan media cautions taxpayers that the system will make it much harder to get away with VAT evasion. Electronic monitoring of invoices Kenya’s new Tax Invoice Management System (TIMS)
New Zealand’s tax authorities are looking to collect transaction data at a much larger scale. Inland Revenue already collects datasets on transactions facilitated by payment providers. However, as electronic payments are now the main way businesses make sales, authorities say
Saudi Arabia is imposing mandatory e-invoicing from 4 December 2021. Companies operating in Saudi Arabia will have to prepare XML invoices and clear them through the tax authority’s digital system. To help businesses prepare for the new requirements, Saudi authorities
Saudi Arabia is introducing mandatory e-invoicing from December 2021. Saudi businesses must have all the required processes in place by 4 December 2021. Businesses must prepare invoices in XML and clear these through the Saudi tax authority’s online portal before
Without the correct data and tax codes, a successful VAT return is impossible. Period. But so many companies across the globe are getting this wrong. Succesful VAT compliance comes down to data. And not just any data; digital data. To
Technology has made global VAT compliance significantly simpler and more cost-effective. However, there is an additional, more urgent, reason for companies to adopt a tech approach to VAT compliance. Increasingly, global tax offices require businesses to file their VAT returns electronically,
Technology has fundamentally changed the way global VAT is enforced. But here’s the good news: digital technology also makes it much simpler to meet your VAT compliance obligations. By contrast, failing to adopt the latest technology-driven VAT compliance solutions could
The future of VAT compliance is digital. Not just in the sense that technology makes VAT compliance easier and more efficient. The future of VAT compliance is digital because tax authorities around the world are increasingly imposing mandatory digital compliance
Greece has moved the deadline for obligatory e-books and e-invoicing filing to 1 July 2021. We previously noted that the deadline, originally pencilled in for 2020, had been moved to April 2021. Greek tax authorities have delayed the mandatory deadline
Businesses in India with an annual turnover of over Rs 50 crore must issue e-invoices for B2B transactions from 1 April 2021. The requirement marks the third phase of India’s e-invoicing regulations, which lowers the threshold for mandatory GST e-invoices