Global e-Invoicing and electronic tax compliance deadlines for July 01, 2018

Global e-Invoicing and electronic tax compliance deadlines for July 01, 2018

08/06/2018

July 01, 2018, is key date for many deadlines regarding new legislations on B2G or B2B electronic invoicing and electronic tax reporting worldwide. Let's review which new obligations entry into force and how can your company get ready for them with our automatic and integrated solutions.

In less than one month, all companies registered in Hungary for VAT purposes must comply with the new regulations on the RTIR (Real Time Invoice Reporting) VAT system. Data must be declared with the NAV (Nemzeti Adó-és Vamhivatal National Tax and Customs Administration). The NAV has published version 0.14 of the schemes which introduces new techincal changes. The EDICOM Platform provides companies with a global solution for B2B2G electronic communications, focusing all operations on a single platform through which EDI, e-Invoicing, and e-VAT statements can be handled for any region in the world.

As of July 1, 2018, the requirement comes into force for those companies with activities related to hydrocarbon fuel supplies for engines or which provide subcontracting or outsourcing services in public tenders. From January 1, 2019, the requirement will be applied across the board for all private companies. The EDICOM e-Invoicing platform is prepared to handle any electronic process between trading partners, whether B2B, B2C or B2G. EDICOM acts as an Authorized Channel certified by the Agenzia delle Entrate to serve as an intermediary in sending and receiving invoices over the SDI. As a Qualified Trust Service Provider under the eIDAS Regulation, EDICOM can apply e-signatures and electronic time stamps to documents with full safety and integrity guarantees. EDICOM e-Archiving services implement the validation mechanisms needed to guarantee archiving in accordance with Conservazione Elettronica.

 Following on from the consolidation of FACe as the general point of entry for electronic invoices with the Public Administration, Spain’s Tax Ministry is rolling out a similar model, the FACeB2B platform, as a general point of entry for e-invoices between companies, both in the area of public procurement and the purely B2B environment. The FACeB2B environment will make it possible to send invoices from a subcontractor to a main contractor to make them available to recipients. A Single Electronic Register will be made available to users before 30 June 2018 and will enable the certification of the date when subcontractors submit invoices to main contractors.

Also, after one year up and running, on July 1, 2018, version 1.1 of the Immediate Information Sharing (SII) schema comes into force. Version 1.1 goes live on July 1, 2018, but version 1.0 will remain until July 20, both in the test environment and in production. As of Monday, July 21, only XMLs of version 1.1 will be accepted.
 

The Mexican tax administration’s fiscal cancellation policy is aimed at ending the bad practice some companies have of cancelling their invoices without their clients’ knowledge, which allows them to eliminate income not reflected for income tax purposes. Meanwhile, the customer who paid for the service or product can’t deduct the expense. With the implementation of information and acceptance mechanisms, they can be cancelled only when the person in favor of whom the invoice is issued accepts their revocation. In this way, clients will be certain that once they pay for services, the invoices that cover the expenses will not be canceled. Through the development of its own platform for generating, sending and receiving CFDIs, EDICOM allows companies to simplify CFDI related processes with management integration systems.

As of July 01, 2018, two new CFDI complements will come into effect:

  1. Complement Consortium Expenses derived from the Execution of a Hydrocarbons Exploration or Extraction Contract.
  2. Income supplement attributable to the members of a Consortium derived from the consideration of a Hydrocarbons Exploration or Extraction Contract.

Time is running out to deactivate version 3.10. The NF-e 4.0 introduces new features that will improve Brazilian digital invoicing both in format and content. The changes focus on existing fields and in new validation rules. In addition, security is improved with the adoption of the TLS 1.2 protocol or higher. Through the EDICOM DF-e solution, the issue and receipt of these tax documents are optimized. It allows automation and integration of the tax information flows in a way that is swift and profitable. This is a tool that is totally integrated into the internal management system, that allows automation and centralization of 100% of tax documents exchanges with any client or supplier, irrespective of the technological or administrative barriers.

Peru is also adapting and modifying its e-Invoicing schemas, adding new fields and improving user experience with it. As of July 01, 2018, new electronic invoice users will be obliged to use only version 2.1 of the schema, while those contiburotrs whoa already use e-Invoicing will have until March 01, 2019, to make the definitive change to the new version.

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E-Invoicing with the Public Administration in France
Learn about the public sector fiscal dematerialization project in France.