VAT news tagged as "Real-time invoice reporting"

Hungary

Hungary live reporting 1 month on

September 7th, 2018

Hungary has declared the 1 July launch of its new live VAT invoice reporting regime a success. Over 250,000 tax payers have now started submitting their real-time issued invoices to the tax authorities – in reality, this may be on a batch-process each day. Hungary has therefore now withdrawn its soft launch from 31 August, …


Italy

Italy SdI live VAT invoicing update

May 14th, 2018

The Italian tax authorities have issued further details on the 1 January 2019 real-time VAT invoicing regime in Italy, Sistema di Interscambio (SdI). This will require all resident and non-resident VAT payers to electronically submit sales invoice to the authorities before they are then sent to customers. The new technical requirements include: Invoices will be …


United Kingdom

Digitisation of VAT Reporting

April 5th, 2018

European countries are increasingly demanding detailed electronic VAT transactional reporting from businesses to help them efficiently track tax due and reduce significant tax evasion. This includes: EU SAF-T; Making Tax Digital in the UK; live invoice reporting in Spain, Hungary and Italy; and Control Statements. Many countries have now introduced voluntary and mandatory transaction reporting …