Italy’s tax authorities issued Law Principle No. 3/2024 on 3 October 2024. The law clarifies definitions of “platform” and “seller” for data reporting obligations in e-commerce. More details are as follows. Read more

Order No. VA-75 introduces significant updates to the My VMI service, improving security, transparency, and user convenience by the latest legal and technological standards. Key changes include expanded definitions, enhanced authentication processes, detailed guidelines for representatives, clarified service ordering procedures, and transparent cookie usage policies. Let's find out what the chang... Read more

Finland is advancing toward a digital economy with the Real-Time Economy (RTE) project, focusing on the adoption of e-receipts as part of modernizing tax compliance and reducing VAT fraud. The eKuitti system allows for real-time processing of structured financial data, enabling automation, faster decision-making, and environmental benefits by reducing paper use. Though not yet mandatory, Finland a... Read more

The Polish government has delayed the mandatory implementation of the National E-Invoice System (KSeF) from July 2024 to 2026, with large companies required to comply by February 1, 2026, and all other businesses by April 1, 2026. This postponement follows system errors and concerns about KSeF's efficiency, giving businesses more time to prepare for the transition. Final consultations on the syste... Read more

The German government plans to strengthen enforcement of the receipt issuance obligation for retailers by amending § 379 of the Fiscal Code to classify failure to issue receipts as an administrative offense. This amendment will allow tax authorities to impose fines ranging from €5,000 to €25,000 to ensure compliance and enhance efforts to combat tax evasion. The move emphasizes using technical sec... Read more

Italy's Legislative Decree 1/2024 introduces a new method for transmitting receipts electronically via software, eliminating the need for physical recorders and RT devices. This shift to cloud-based solutions aims to simplify tax compliance by reducing hardware costs and integrating payment and administrative operations. Merchants must wait for the Revenue Agency's technical specifications and can... Read more

This document defines the technical specifications of the software solution referred to in Article 24 of Legislative Decree No 1/2024 as a tool (together with those already regulated by the Decision of the Director of the Revenue Agency of 28 October 2016) by which electronic storage and electronic transmission of the data referred to in Article 2(1) of Legislative Decree No 127/2015 can be carried out. Read more

Turkey's Treasury and Finance Ministry plans to leverage AI technology to combat tax evasion, enhance audit efficiency, and detect fraud, particularly in high-risk sectors like construction. By employing predictive and advanced analytics and tools for tax and customs analysis, Turkey aims to improve its tax collection rates and close the compliance gap with other OECD countries. AI will automate a... Read more

In Denmark, businesses are prohibited from accepting cash payments of 20,000 kroner (approximately 2,689 euros) or more in a single transaction to combat money laundering, while consumers must report large cash payments of 8,000 kroner or more to avoid tax liability. Read more

The Tax Authority in Belgium has provided distinction on the fiscalization requirements for certain specific devices like kiosks, vending machines, etc., making important distinctions based on their setup and connection to POS systems (if any) and if they need to be fiscalized. Read more

Spain has introduced new VAT adjustments, with the most significant changes being the end of the temporary zero VAT rate on essential foodstuffs, now taxed at 2% until December 31, 2024, and shifting to 4% from January 1, 2025. Olive oil will benefit from the 4% reduced VAT rate starting January 2025, while seed oils and pasta see a VAT increase from 5% to 7.5%. Additionally, VAT rates for electri... Read more

In a move to strengthen environmental regulations, Portugal has amended Decree-Law No. 24/2024, introducing significant changes for businesses operating within its jurisdiction. The requirements will take effect on January 1, 2025. Who will they impact? Read more

Effective January 1, 2025, the Czech Republic will introduce significant changes to its Value Added Tax (VAT) regime to simplify processes and adjust thresholds. Key changes include a new annual turnover period for VAT calculation, expansion of the reverse charge mechanism to include cleaning services, and removing the five-year real estate exemption. Additionally, the time limits for VAT deductio... Read more

Starting January 1, 2025, Poland will implement a mandatory deposit system for glass, plastic bottles, and cans. This new regulation will become an integral part of everyday shopping, requiring consumers to pay a deposit for packaging. This change raises questions about the impact on VAT taxation and product prices. Read more

On September 30, 2024, the Director of the Revenue Agency signed a provision establishing the operating procedures for using digital signatures drawn up during tax control activities, in accordance with Article 38-bis of Presidential Decree no. 600/1973. These new procedures aim to streamline tax control activities and ensure the integrity and authenticity of the documents involved. Read more

Finland has taken a significant step toward a real-time economy by introducing its e-receipt project. This initiative, designed to boost competition in the electronic invoices and receipts market, arrives at a crucial time when VAT systems are rapidly evolving across the globe. In our upcoming webinar, we’ll explore how e-receipts will become an integral part of financial administration. The... Read more