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
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
By Kajal Shah Businesses have several ecosystems which help them achieve different objectives and meet the needs of the business. These are created between operations, people, data, software, and systems. Businesses have innovation hubs, product hubs, service hubs aimed at
The Polish Ministry of Finance has again delayed the introduction of SAF-T (Standard Audit File for Tax), which was agreed back in November 2018 to replace the existing VAT laws in the country.