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The Slovak government disseminated preliminary information regarding the draft law amending the Value Added Tax (VAT) Act (222/2004) at the conclusion of December 2024. The impending legislation is poised to institute electronic invoicing and digital reporting, effective from 2027.
The Bulgarian government has announced a new draft law to modernise the nation's tax administration through the utilisation of the SAF-T (Standard Audit File for Tax), with the objective of facilitating communication between taxpayers and tax authorities.
On 18 December 2024, the Agencia de Recaudación y Control Aduanero (ARCA) published General Resolution 5616/2024, which stipulated the dates for the update of electronic invoicing systems.
The governments of Latin American countries have progressively implemented mandatory invoicing regimes. The transition has been marked by a constant evolution exemplified by the enactment of laws and regulations aimed at promoting the widespread use of electronic invoicing.
The InvoiceNow platform for e-invoicing in Singapore will commence a voluntary period in May 2025. As early as September 2024, the Inland Revenue Authority of Singapore (IRAS) will provide a test environment for companies and suppliers to verify the functionality of their systems.
On August 1, 2024, the mandatory pre-clearance e-invoicing regime for B2B, B2C and B2G transactions started in Malaysia. Known as the "soft launch", taxpayers with a turnover of more than MYR100 million were the first to be subject to the new mandate.
The Accounting software for resident companies has been made available by the Belgian Federal Public Service for Finance (FPS) for implementation from the 1st of January 2026. This coincides with the introduction of mandatory electronic invoicing. Furthermore, these software applications will facilitate the exchange of invoices in PEPPOL format.
HM Revenue & Customs (HMRC) has already started a public discussion about promoting e-invoicing for government administrations and businesses. It will run for 12 weeks, from February 13 to May 7, 2025.
PEPPOL was created in 2008 as a pilot Project by the European Comission and is governed by a set of specifications and standars based on multilaterals agreements. Its acronyc stands for Pan-European Public Procurement Online (PEPPOL).
The mandatory use of e-invoicing in the B2B context in Spain is imminent, following the enactment of the Crea y Crece Law. However, in regions such as Latin America, it has been a long-standing reality.
