The Minister for Enterprise, Tourism and Employment has announced the commencement of Section 22 of the Companies (Corporate Governance, Enforcement and Regulatory Provisions) Act 2024, which changes the audit exemption regime for small and micro-sized companies. This prevents automatic loss of audit exemption on the first occasion of late filing. The Minister for Enterprise, Tourism and Employmen... Read more

Online marketplace operators are responsible for VAT on goods sold by overseas businesses. To avoid unpaid VAT, verify if a seller is established outside the UK and keep evidence. HMRC reviews evidence based on business size, internal risk systems, and individual case circumstances. As an online marketplace operator, you’re liable for VAT on goods located in the UK at the point of sale and s... Read more

Chile introduces VAT registration for foreign sellers and platforms handling low-value B2C goods from October 2025, affecting intermediaries and direct sellers, with registration opening in August. Beginning in October 2025, the resolution requires foreign sellers and platforms that handle low-value B2C goods to register for VAT. On July 10, 2025, Resolution No. 84 was issued by Chile's tax autho... Read more

Despite the growth of digital payments, over 90% of U.S. small businesses continue to rely on paper receipt, handling around $6 trillion annually. This persistence is driven by cash flow needs, system complexity, and reluctance to change. While platforms help speed up payments and reduce fraud risk, adoption remains slow due to fragmented software and banking infrastructure. Government efforts to... Read more

The SG Peppol BIS Order Balance, developed by IMDA, standardizes how buyers inform sellers of remaining order quantities. It supports automation, reduces billing errors, and fits into both partial and full delivery workflows. Aligned with Peppol and EIF 2.0, it uses UBL 2.1, ISO Schematron, and ISO 15000-5:2014 data types. Main elements include OrderTypeCode 348, party identifiers, product details... Read more

In July 2025, Singapore introduced Advanced Ordering and the SG BIS Order Balance specification to enhance its InvoiceNow e-invoicing network. These upgrades support the full order lifecycle—including order creation, changes, and cancellations—and aim to automate procurement processes for both public and private sectors. Sellers benefit from automated order handling and invoicing, while buyers, es... Read more

To transfer a VAT registration number to a company changing ownership, you must complete an application for VAT registration and submit the VAT68 form to HMRC. A transfer of a VAT registration number may be requested if you are: changing the status of your business (from sole proprietor to limited company, for example) and wanting to use the previous owner's VAT registration number By comple... Read more