April 2021: E-Invoicing & VAT compliance updates

Introduction

Welcome to the April 2021 edition of OpenText’s E-Invoicing Regulation update.

OpenText wants its clients to be informed with the latest information related to the evolution of e-invoicing and VAT compliance around the world.

In alignment with this goal, we are pleased to share the latest changes in the industry.

Compliance news updates

Europe

Albania: Phased implementation of an e-invoicing mandate for B2G, B2B and B2C transactions

Law, No. 87/2019, “On electronic invoices and the turnover monitoring system” has been approved by the Albanian parliament. The law provides for a combination of technology and regulations enabling the Albanian tax authorities to monitor taxpayers’ turnover in real-time.

For B2G transactions the law has entered into force from January 1st, 2021, and is forthcoming as July 2021 for business-to-business (B2B) cashless transactions and September 2021 for all cash transactions (B2G, B2B, and business-to-consumer (B2C)

France: Future e-invoicing model for B2B transactions

In view of the upcoming B2B e-invoicing mandate in France, Le Forum National de la Facture Électronique et des Marchés Publics Électroniques (FNFE-MPE) organised a workshop “Facture Electronique Obligatoire et CTC dès 2023”.

The recording of the session is available on the website of the FNFE (https://fnfe-mpe.org/evenements/conference-en-ligne-art-153/).

Slovakia: Upcoming e-invoicing/real-time reporting system announced

In a recent press release, the Slovakian Tax authorities have revealed a new draft law on sending data to the Financial Administration.

The full text is available on: https://www.skdp.sk/webnew/main.nsf/0/430C1ADDC6CA5CEDC125865C003D7496?opendocument

The Americas

Argentina: Mandatory QR Codes on e-invoices

The Argentine tax authority (AFIP) has issued a general resolution (resolución general 4892/2020) which mandates the use of a rapid response QR code in e-invoices. This QR code should codify the identification of the parties and other essential data of the invoice (date of issue, total amount, currency, ..).

Starting from 1 June 2021, all VAT taxpayers are required to implement QR codes in their e-invoices.

Asia-Pacific and Rest of World

Oman: VAT Executive Regulations published

The VAT Executive Regulations have been issued by the Oman Tax Authority ( Decision 53 of 2021 (in Arabic)) on 14 March 2021, which will allow companies to properly prepare for the introduction of VAT in Oman, starting from 16 April 2021. https://mjla.gov.om/eng/legislation/decisions/details.aspx?Id=1650&type=D

Disclaimer: This newsletter is intended to reflect the direction the industry is moving and does not a reflection a commitment for the OpenText Active Invoices with Compliance (AIC) product development roadmap to meet any particular stated regulations.

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