Quick guide on what’s new in eletronic invoicing and VAT compliance

Every day there are more legal requirements that we have to pay attention to when we decide to automate invoices electronically.
In previous posts, we have already reviewed the current situation of electronic invoicing in the world, but we wanted to bring you a summary with some of the most important developments that have emerged in recent months.
At Brait, we have successfully carried out electronic invoicing implementations in more than 25 countries, therefore, for us it is very important to know all the news about electronic invoicing and VAT compliance, not only within the national territory but also globally.

We have summarized some of the most important developments in recent months:

Spain: scope and technical details of mandatory B2B electronic invoicing

In accordance with the draft Royal Decree published on February 21, 2022, the mandatory implementation of electronic invoicing between companies is introduced, setting January 1, 2024 as the deadline to comply with the new requirements established in the regulation.

The standard is directed at any computer system used by said taxpayers to record and document deliveries of goods and services and process invoices.

This draft of the Royal Decree cites some additional mandatory content that will be required for invoices as of January 1, 2024: an alphanumeric identification code and a “QR” code, as well as specific additional phrases to indicate the verification status of the invoice. invoice.

When generating an invoice, a “registration record” must be generated in the Tax Administration. That is: send the invoice information to the AEAT before or simultaneously with the generation of the invoice.

The computer system must generate a billing record and send the invoice data to the tax authorities correctly and continuously, and must guarantee the integrity and inalterability of the billing records in accordance with current legislation.

Poland: B2B e-invoicing gets EU go-ahead

In previous posts, we already talked about the VAT registration news in Poland, as well as how Poland in recent years has become a benchmark country in terms of electronic tax compliance.

It is worth mentioning that recently Poland has obtained an EU exemption from articles 218 and 232 of Directive 2006/112/EC on the common value added system. These are the articles that prohibit electronic invoicing, since they require the acceptance of the buyer to receive the electronic invoice and impose a specific format.

Thanks to this approval, Poland can go ahead with the introduction of mandatory B2B electronic invoicing from 2023. Companies will have to use the national KSeF platform, which is available for voluntary use from January 1, 2022.

Nigeria: concerns about electronic invoicing and electronic assessment system for import and export operations

The Department of Commerce and Exchange of the Central Bank of Nigeria issued guidelines on January 21, 2022 for a new electronic billing and assessment system for import and export transactions, which came into force on February 1, 2022.

This has meant that all import and export operations are accompanied by the presentation of an authenticated electronic invoice, with the aim of reducing bad exchange practices.

Mexico: CDFI 4.0 Term Extended for Three Months

Mexico is currently undergoing an update of the mandatory XML format – CFDI from version 3.3 to version 4.0. A recent directive from the Mexican Tax Administration Service (SAT) has extended the transition period that was scheduled to end on March 30, 2022, and will now end on June 30, 2022.

As of July 1, all electronic invoices must comply with the new 4.0 standard, and previous versions will no longer be valid.

Czech Republic: the obligation to register sales electronically is definitively eliminated

The Czech Ministry of Finance approved in March 2022 to repeal the Sales Registration Law. Such repeal will take effect on January 1, 2023.

This means that from next year the legal obligation to electronically register sales, which was suspended for almost two years due to the COVID pandemic, will not return.

If you are looking for a tool to address these developments, or if you want more information about these or other legal requirements, do not hesitate to contact us. We will be happy to help you.

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