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Compliance and Regulations

2024’s electronic invoicing changes

January 29, 2024
Unifiedpost Group information

This blog and regulations information were correct as of the publishing date. To view the most up to date regulations and blogs, view the tax compliance regulations page.

Gain a clear overview of this year’s upcoming tax compliance and electronic invoicing changes from around the world. From new business-to-business mandates, to new businesses in scope.

If you would like a more in-depth overview of all the existing regulations, download our regularly updated 2024 Global E-invoicing guide.

Which countries have intended regulation changes throughout 2024?

Belgium

In March 2024, Belgium will enter the final stage of its three stage business-to-government (B2G) mandate.

Belgium began its B2G mandate in November 2022 for contracts higher than €215,000. The mandate evolved in March 2023 to include contracts higher than €30,000, and in March this year contracts over €3,000 will also be in scope.

Any contract below €3,000 will be exempt from the entire B2G regulation.

Interestingly, the country has recently announced its intentions to mandate business-to-business (B2B) regulations. The start date is foreseen for the 1st of January 2026.

The Dominican Republic

The Dominican Republic will implement its B2B regulations in 2024, via a three stage approach. From May, large national taxpayers must only receive and issue electronic invoices. From May 2025, the scope includes large local and medium-sized taxpayers. And from May 2026, the requirement will be further expanded to small, micro and unclassified taxpayers.

Greece

Since the end of 2023, suppliers to major governmental agencies have been required to issue electronic invoices in Greece. From January 2024, suppliers to central administrations will be in scope and from June 2024 suppliers to other contracting authorities and contracting bodies must also adhere.

Israel

In 2024, Israel begins its clearance mandate roll-out based on the invoice amount. The roll-out started in January on a voluntary basis. From April, the mandate is obligatory for invoices exceeding 25,000 NIS (~€6,200 at the current exchange rate).

Kenya

From the 1st of January 2024, Kenya’s real-time-reporting mandate kicked off. The reporting regulation is based on electronic tax registers (ETR) or software connected to the country’s tax system (iTax). All taxpayers in Kenya, irrespective of their VAT registration, must adhere to real-time-reporting and submission via iTax.

Malaysia

As part of the Budget 2023 presented by the Malaysian Finance Minister on the 7th of October 2022, the country’s e-invoicing implementation will commence in stages throughout 2024 and 2025.

From August 2024, the largest businesses in Malaysia (i.e. those with an annual turnover or revenue of more than RM100 million) must issue electronic invoices and report them to LHDN, prior sending them to their business partners. The mandate foresees an expansion to smaller businesses in two further phases, planned for January and July 2025 respectively.

Poland

Poland’s transition towards mandatory B2B electronic invoicing has not been an easy one. The country’s mandate was initially due to begin in January 2024, and then July 2024. In a recent update by Poland’s Minister of Finance, the country has decided to postpone the regulations yet again. No new start date has as yet been communicated.

Take a look at the announcement via our recent update. Sign up to our e-invoicing newsletter to be the first to hear of any changes.

Romania

Since the 1st of January 2024, Romanian businesses must adhere to mandatory B2B e-reporting.

Since the start of the year, businesses in Romania must report invoices to the RO e-Factura system within five working days. The country will allow a grace period until the 31st of March, but after this date, businesses will receive penalties based on their company size.

Furthermore, from the 1st of July, all B2B invoices between Romanian businesses must be sent via RO e-Factura, in RO CIUS format.

Saudi Arabia

Saudi Arabia’s mandatory e-invoicing journey began in 2022. The country’s mandates are rolled out via a phased approach based on the business’ 2021 or 2022 taxable turnover. In 2024, waves 6-9 will be within scope, which overall includes any business exceeding 30 million SAR revenue (for years 2021 or 2022).

Singapore

Singapore’s government has hinted that its B2G mandate will begin in Q1 2024. Although concrete dates have not been announced, we can expect the country to begin its mandates over the next few months.

Newly announced changes

Apart from the regulations taking place throughout 2024, there are also more recently announced changes that will span the next few years. These changes are reflected in our roadmap, which we analyse and update on a quarterly basis.

Croatia

Embarking on the ambitious Fiscalization 2.0 initiative, Croatia has submitted a request for derogation from Council Directive 2006/112/EC. The proposal aims to mandate the issuance of electronic invoices (eRačun) in the B2B sector and necessitate reporting on domestic transactions between local taxpayers.

While the Council Directive allows e-invoice usage based on recipient acceptance, Croatia seeks permission to diverge from this norm. The proposed implementation, aimed for the 1st of January 2026, underscores the commitment to a seamless digital transition while addressing potential tax evasion.

Singapore

Apart from the country’s upcoming B2G mandates, the Singaporean tax administration has also revealed their intention to use the nationwide electronic invoicing network (InvoiceNow) for real-time collection of transactional invoice data to manage GST reporting.

This development marks another important milestone toward the adoption of e-invoicing in Singapore. The country will most likely adopt the CTC model, which is expected to launch in early 2025.

Staying up to date with Unifiedpost Group

Staying up to date with the ever-changing world of e-invoicing and tax compliance can be challenging. Tax authorities are continually amending upcoming mandates or announcing new ones.

At Unifiedpost Group, our team of e-invoicing experts does the hard work for you. Our experts ensure our customers and the business have the most up-to-date information, making tax compliance a simpler endeavour.

To ensure you always have the most recent regulatory updates, receive the latest changes straight in your inbox without any hassle.

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