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Compliance and Regulations

Video: The latest tax compliance updates Q4 2023

October 20, 2023
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.

As we find ourselves in the final quarter of 2023, it's evident that numerous countries are closely aligning with global electronic invoicing regulations by implementing their own mandates.

You are reading 2023 Q4's updates. For the most recent updates take a look at our latest blog.

France

On September 29th, during the 78th National Congress of Chartered Accountants, the French Minister of Economy and Finance, Bruno Le Maire, confirmed the postponement of the country’s business-to-business (B2B) e-invoicing reform.

The reform was initially supposed to start in July 2024, but after considerations, the government has altered the regulation timelines.

The regulations will now be introduced via a phased approach. They will start in 2024 with the delivery of the National Platform PPF and the start of the accreditation process of PDPs (Plateformes de Dématérialisation Partenaires) - service providers that will be certified by the French government.

The implementation timelines are then as follows:

  • 2025 - Voluntary pilot period for all companies
  • September 2026 - All businesses to receive e-invoices and large and mid-sized companies to issue e-invoices and comply with e-reporting
  • September 2027 - SMEs and micro-companies to issue e-invoices and comply with e-reporting

Romania

The Romanian Ministry of Finance has recently released a draft legislative proposal that includes a range of new budgetary measures. One of the most eagerly awaited measures is the introduction of mandatory B2B electronic invoicing and reporting.

The draft legislation, while keeping the EU Council's approved January 2024 rollout date intact, suggests a phased approach. In the first six months, the legislation will introduce an invoice reporting system, followed by the full implementation of the electronic invoicing system (RO e-factura) in July 2024. Additionally, a three-month grace period from January to March 2024 is proposed, where businesses will not receive any penalties for non-compliance with the e-reporting requirements.

Read more in our blog here.

Belgium

Minister of Finance Vincent Van Peteghem has secured approval in the Council of Ministers for the mandatory introduction of B2B electronic invoicing, starting from the 1st of January 2026.

Belgium already introduced a business-to-government (B2G) e-invoicing mandate which has been gradually taking effect in phases as of November 2022, depending on the contract value. The minister is now taking a significant step by extending the requirement for structured electronic invoices to transactions between taxable companies. The government has chosen to adopt the European PEPPOL network for this transition, offering flexibility for companies to choose other compliant systems by mutual agreement.

An extensive transition period will be provided, and an information campaign will be launched in collaboration with the FPS Finance to support stakeholders during this process. Businesses may find it challenging to embrace the new reform, even with the assistance of an extended transition period and an information campaign in partnership with the FPS Finance aimed at aiding stakeholders through this undertaking.

The draft law still requires approval from the Belgian parliament, in order for it to become effective. Therefore, the Council of Ministers' approval represents the initial yet crucial phase in the legislative process.

Learn more about Belgium’s journey towards mandatory e-invoicing, by looking at six key facts within the country’s regulations.

Greece

Greece’s Ministry of Finance has announced in a press release the intention to introduce mandatory e-invoicing in the course of 2024.

In real-time, transactions will be cross-checked and verified, while tax authorities will increase their controls through automation and digitalisation.

United Arab Emirates

The Ministry of Finance is actively engaged in the 'E-Billing System' project, aimed at creating a state-of-the-art electronic billing system for nationwide implementation.

The system is designed to streamline the tax return process, enhancing tax compliance, and minimising instances of tax evasion through automation. Just like many countries’ route to new tax compliance and billing regulations, the project will be introduced in multiple phases and is currently scheduled for completion by July 2025.

Ensure your electronic invoicing knowledge is up to date

With Unifiedpost Group, you can stay informed and stay ahead of the curve.

With an increasing number of countries implementing mandatory e-invoicing regulations, it's essential to stay current. Stay in the know about the latest global developments by subscribing to our monthly e-invoicing newsletter and connecting with us on LinkedIn for additional updates.

Stanislava Filcheva
E-invoicing and E-reporting Compliance Officer

Stanislava has a vast background in accounting and finance, which transitioned her to a role in e-invoicing and tax compliance with Unifiedpost Group in 2020. She studied Industrial Management, which provided her with a comprehensive understanding of financial, managerial, and engineering sciences and processes. Stanislava is fluent in four languages and has experience working with many international companies all over the globe.

Connect with Stanislava on LinkedIn
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