For example, in Italy, invoices must be issued electronically via SdI (so called "Sistema di interscambio") for supplies between Italian resident subjects (business-to-business (B2B) and business-to-consumer (B2C)). After a second consecutive first-round exit, Houston has had a relatively quiet summer. Adam Silver, Pat Riley among the many people waiting for LeBron James' free-agent decision
On 20th June 2023, the European Parliament (EP) issued draft reports containing suggested amendments to the ViDA proposals. ViDA proposal still needs approval from the European Parliament and the representatives of the MSs (the European Council). The introduction will be phased out in stages depending on the business’s annual turnover. In June 2023, the draft of the implementing regulation concerning the e-invoicing obligation was published. Mandatory B2B e-invoicing and the e-Factura system for transactions between taxable persons in Romania will be introduced from 2024. B2B e-invoicing and e-reporting will become mandatory for large taxpayers who will be required to issue e-invoices and report other transactions from 1 July 2024. The proposed measures include an EU real-time digital reporting requirement (DRR) based on e-invoicing to be implemented step by step, starting in 2024. Major changes in the EU VAT were proposed at the end of last year, for more information see our article “The European Commission proposes ambitious VAT reforms”.
E-invoicing becomes obligatory if both the supplier and the recipient of the invoice are businesses established or domiciled in Spain. According to the draft law, e-invoicing will become mandatory for B2B transactions from 1 July 2024. Currently, businesses that supply B2B products that are considered as high risk from a tax fraud perspective are required to use the existing e-Invoicing system (e-Factura). Several ksi game app EU countries have adopted or planning to adopt the e-invoicing and DRR, France and Romania are the next countries where the requirements come into force already in 2024. Most importantly, the draft reports propose postponing the entry into force of the ViDA by up to 24 months.
European Parliament Suggests Amendments To The Vida Proposals
From 2026, e-invoicing becomes mandatory for domestic B2B transactions between businesses established in Germany according to the last proposal. The article concludes with a view on expected further developments in e-invoicing and digital reporting and provides tips on how to prepare for the ViDA and e-invoicing. This article gives an overview of the latest country developments in e-invoicing and digital reporting. Businesses operating in the EU market need to start preparing for e-invoicing by (further) digitalizing their business processes and familiarizing themselves with requirements since e-invoicing may go ahead as soon as 2024. The VAT community and businesses are awaiting with interest how and when the important changes proposed by the ViDA are adopted, since these will overhaul the entire VAT compliance landscape. For businesses with yearly revenues of EUR 8 million or more the e-invoicing becomes mandatory one year after the adoption of the implementing regulation, and for other businesses two years after the adoption of the regulation.
