The e-invoicing community is rife with jokes about delays, because its one of those things that is par for the course (can you tell The Masters are coming up soon? 😊). Keeping up with regulatory updates in the e-invoicing space can be a challenge, but we are here to help! The below details some highlights for the month of March:
GERMANY:
- The Federal Council approves the e-invoicing mandate for Germany. It is proposed that there will be a mandatory obligation to receive e-invoices by January 2025. The full e-invoicing mandate will then follow in January 2027 for companies with an annual turnover of €800 000, and for all other taxpayers in January 2028.
SPAIN:
- The Spanish government has submitted a revised version of the draft Royal Decree for the “Crea y Crece” with updated timelines for compliance differing for sole traders and legal entities based on turnover.
- The deadlines for compliance will begin after the approval and publication of the Royal Decree in the Official Gazette (BOE), expected to happen within this year.
POLAND:
- The mandatory implementation of KSeF (Poland’s National e-Invoice System) has been delayed until at least 2025 as the Ministry of Finance conducted consultations based off of taxpayer feedback, after errors were identified in the system.
- A new draft of regulations will be released in April 2024, with the MoF aiming to complete the legislative process by July 2024, as this will better ensure the possibility of a mandatory KSeF launch in early 2025.
ROMANIA:
- In an emergency ordinance issued by the Ministry of Finance (ANAF) on 23 March 2024, it was announced that the penalty phase for non-compliance with the real-time reporting regime that was implemented from 1 January 2024; has been extended from 31 March to 31 May. This means that penalties will only be applicable in the month of June 2024. The real-time reporting regime for invoices between 1 January 2024 and 30 June 2024 was the first-phase launch of the mandatory e-invoice regime, ahead of the full pre-clearance system for electronic invoice submissions beginning July 2024.
UAE:
- The UAE is implementing a two-phased approach, with mandatory e-invoicing for transactions exceeding AED 50,000 starting in July 2025 and for all transactions from July 2026.
We are here to help you navigate the integration of e-invoicing mandates into your business processes seamlessly. Reach out to us and find out how we can make all things e-invoicing and e-reporting “eezi”.
