Compliance Services

Greater awareness around e-invoicing is being promoted in Australia- the Government will provide $15.3 million in funding to increase awareness of the value of e-invoicing for all businesses. This follows the announcement that e-invoicing will be mandatory for all Commonwealth agencies from 1 July 2022. This funding will support the Treasury and the Australian Peppol E-Invoicing Authority to improve business e-invoicing awareness and adoption. The aim is to assist in the adoption of Peppol e-Invoicing in the private and public sectors and lay further foundations for an expected national e-invoicing mandate.

Columbia has now adopted the mandatory inclusion of electronic signatures in invoices. This mechanism has always been in place but has only recently become mandatory.

This will help to ensure the authenticity, integrity and non-repudiation of the invoice.

The requirement to include the registered address for foreign sales has been annulled.

Furthermore, the “Supporting Document 1.0 Technical Annex” has been introduced for Colombian taxpayers making purchases from suppliers that are not obliged to issue invoices. In order to support costs incurred or expenses with such suppliers, the purchaser must support ‘electronic’ supporting documentation i.e. an electronic invoice or equivalent documents, for validation by the National Tax and Customs Directorate (DIAN). This allows the transactions to be tracked and costs, deductions and deductible taxes to be monitored.

The Business Payments Coalition, with support from the Federal Reserve, will begin recruiting for a Market Pilot Work Group. This group will build and test a virtual network that will enable businesses to exchange e-invoices. Interested stakeholders will be needed to develop and test the open-source tools and access points to be used in the pilot.

The Norwegian government has proposed to extend the temporary 6% reduced VAT rate for transportation, lodging, etc, until September 30, 2021 in the revised national budget. Originally, the reduced rate was to last until the end of June 2021. However, this decision is yet to be formally approved.

The Greek Public Revenue Authority (AADE) has recently published a Circular regarding the reduced VAT rate for tickets for streaming theatrical performances and concerts.
As of 11 March 2021, the 6% reduced VAT rate will apply for tickets for access to live streaming of such events. The new rate will apply for as long as the measure suspending public attendance to such events is in effect.

The Argentine tax authority (AFIP) has issued a general resolution (resolución general 4892/2020) which mandates the obligation to include a quick 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.

The use of Italy’s new Fattura XML format was originally mandatory from January 1, 2021 but was delayed until end of February 21. However, Italy has now again extended for the third time the newest rules relating to SDI invoices, The date from which the usage of the Fattura XML 1.6 becomes obligatory has been moved from 28th February 2021 to June 2021.
Tungsten Network has been ready for the new XML format from the voluntary introduction in September 2020.

The UK Chancellor is again extending the VAT reduction on Hospitality and Tourism from 20% to 5% until 30 September 2021. It will then be reduced to 12.5% until April 2022 to help businesses in gradually moving back to the standard rate.

The Ministry of Finance in Slovakia will soon start a consultation process regarding e-invoicing. As a result of this, the government aims to:

• Simplify the current VAT declaration system;
• Reduce fraud;
• Reduce the administrative burden for businesses.

Public law entities and solution providers in the IT sectors will be contacted during the consultations to draw up a draft legislative text with their input.

Serbia is making good progress with plans to move to mandatory e-invoicing and has published a draft version of the law on e-invoicing on the website of the Ministry of Finance. Note: it has not yet been passed by the National Assembly of Serbia.

The proposed law is looking to regulate:
• the issuance of electronic invoices for both B2B and B2G transactions;
• the national e-invoicing platform or system;
• the elements which e-invoices should contain; and
• e-archiving
The provisions of the law are supposed to come into effect from 1st July 2021 for B2G transactions.

For B2B transactions, reception and storage of e-invoices will be mandatory staring from 1 July 2022, and the issuance of invoices from 1 January 2023.