Due to the Coronavirus outbreak, the Finnish treasury announced that the April 1, 2020 deadline is postponed. Non-central Finnish public entities and Finnish companies with turnover of over €10,000 are allowed still to issue and receive invoices use the older e-invoice formats.
SAP add-on for SAF-T Norway (2020)
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- Hits: 2901
Standard Audit File for Tax Purposes for Norway first version was ready in March 2016. It was limited to account specification (general ledger), and supplier and customer specification (subsidiary ledger).
Legal and technical changes for SII files in Spain
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- Hits: 2849
On 1 July 2018, the Spanish SII system changes. Several technical modifications become in force.
Integrated SAP add-on solutions for SAF-T
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- Hits: 37058
Besides recently Poland, SAF-T is introduced now also for Lithuania and Norway. A fully integrated solution in SAP without an external interface or use of external software is available for Lithuania, Poland and Norway. Other countries will follow.
Poland Whitelist of VAT taxpayers
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- Hits: 3043
Starting September 1, Poland will publish online a new database of VAT registered businesses. It is a list of VAT payers, which contains several important information about entities conducting business activity in Poland. The list will include, among others, bank account numbers of VAT taxpayers.
Portugal - mandatory annual report - CIT implications
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- Hits: 2544
In Portugal, in addition to the existing monthly SAF-T submission listing of all sales invoices for VAT purposes, businesses are required to provide annual accounting file in SAF-T format.
Norway introduces SAF-T to improve tax inspections
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- Hits: 7700
Norway is introducing SAF-T reporting for corporate entities, either resident or with physical presence in Norway (VAT registered businesses). From 1st January 2017 onwards it is required to provide SAFT-NO files in XML format on request of the Norwegian Tax authorities.
SAP add-on solution for VAT Information Exchange System to validate correctness of VAT numbers (2020)
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- Hits: 3677
From 1 January 2020, four Quick Fixes will be introduced to simplify and harmonize the EU VAT rules of intra-EU supplies of goods, that will address the vital importance of VAT number check again.
Italy: update about mandatory e-invoicing
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- Hits: 3402
Some important updated concerning mandatory e-invoicing obligations in Italy such as soft landing and digital signatures and how invoices should be stored.
Introducing a new VAT system
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- Hits: 6727
On 16 June 2016, the Finance Ministers of the Gulf Cooperation Council (GCC) held an extraordinary meeting in Jeddah, Saudi Arabia on GCC Value Added Tax (VAT).
UK MTD - SAP add-on for MTD UK
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- Hits: 2640
Starting April 2020 the digitally linked VAT accounting data will have to be submitted to the tax authorities either periodically or on request. That data will be used to review whether the numbers of the nine VAT returns submitted are correct (tax audit (almost) real-time).
Commission develops TNA software to identify fraudulent networks
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- Written by Richard Cornelisse
- Hits: 4446
To speed up the joint processing and analysis of data within Eurofisc, the Commission is currently developing TNA software for voluntary use by the Member States as of 2018.
Mandatory e-audit files
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- Hits: 5784
Tax authorities, due to technological innovations, have become increasingly better in executing their tax audit.
SAP add-on: SAF-T and e-invoicing changes in 2020
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- Hits: 3427
We support clients by enhancing SAP for tax. That means implementing new tax audit methods such as SAF-T and e-invoicing, but also it optimizes SAP's VAT determination logic to ensure that manual intervention is limited or avoided. Below an overview of new legal changes and introductions, that KG will support.
Towards a new and definitive VAT system for the EU
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- Hits: 6054
The Commission adopts new proposals for the most far-reaching VAT reform in the EU for a quarter of a century VAT is a major and growing source of revenue in the EU, raising over €1 trillion in 2015, corresponding to 7% of EU GDP.
Creating XML SAF-T Structures directly in SAP ECC
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- Hits: 15411
Our SAP add-on for SAF-T Poland runs over SAP ECC, is compatible with OECD standard and covers the steps of creation of necessary structures in XML format including E-submission with signature and encryption.
The UK 'Making Tax Digital' for VAT
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- Hits: 2789
HMRC's 'MTD for VAT' aims to avoid 'manual entry' mistakes, and that all underlying VAT line items of the VAT return are not only digitalized but at the end readily available so HMRC can perform soon closer to real-time tax audits. We explain MTD UK in detail.
SAP End-to End solution for periodic SII files in Spain
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- Hits: 5050
In Spain a new VAT reporting system will enter into force on the 1st of July 2017.
SAP add-on for SAF-T Poland
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- Hits: 59384
We can offer a SAP add-on solution for Poland (ABAP) at a fixed all inclusive fee. Fully integrated in SAP without an external interface or use of external software. All inclusive means implementation, training and 1 year of free support and maintenance for bug-fixes & legal updates.
eInvoicing requirements in Hungary per July 1, 2018
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- Hits: 10380
From 1 July 2018, taxpayers are as stated earlier obliged to provide immediately invoice data for domestic transactions with a minimum VAT amount of HUF 100,000 (322 EUR).
SAP add-on for immediate Supply of Information (SII) in Spain
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- Hits: 62594
SII (“Suministro Inmediato de Información”) in Spain is about changing the current VAT management system which has been in place for 30 years, introducing a new bookkeeping system for VAT on the AEAT online system, by providing all billing records virtually immediately.
SAF-T what is next ... Lithuania!
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- Hits: 7438
In Europe SAF-T is now in force in Austria, France, Lithuania, Luxembourg and Poland. We understand that Germany, UK, Ireland, Norway and the Czech Republic are most likely next to introduce SAF-T. Lithuania is expanding its SAF-T.
eInvoicing requirements in Italy per January 1, 2019
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- Hits: 6360
Starting January 1, 2019, in Italy a mandatory electronic invoicing obligation will be in force for the supplies of goods or services. This e-invoicing obligation - similar like Spain and Hungary - is about detecting and combating VAT fraud/tax evasion, but also to stimulate company's to get ready for the digital age.
In Spain on 1 July 2017: immediate supply of Information to tax authorities in force
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- Hits: 9895
In Spain a new VAT reporting system will enter into force on the 1st of July 2017. The new Spanish requirements will have a huge impact on many (multi)nationals that run SAP.
SAP and SAF-T Poland
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- Hits: 4462
From 1st July 2016 onwards it is required to provide SAFT-PL files in XML format on request of the PL Tax authorities.
Hungarian update: eInvoicing requirements starts 1 July 2018
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- Hits: 3108
From 1 July 2018, taxpayers are as stated earlier obliged to provide within 24 hours invoice data for domestic transactions with a minimum VAT amount of HUF 100,000 (approximately 322 EUR).
How to get ready in time for SII Spain
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- Hits: 4376
Any SII Spain solution should be implemented on 1 July 2017 as the first mandatory submission is already 8 days later. There are rumours that submission deadline might be delayed but that is still a big uncertainty.
A SAP add-on to be able to cope with SAF-T and e-tax audits
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- Hits: 5267
Tax authorities around the world want to receive more frequent and faster tax relevant data for e-audit purposes to analyse Corporate Income Tax (CIT) and VAT positions taken to combat VAT fraud and to determine whether actually a fair share is paid (Base Erosion and Profit Shifting: 'OECD's BEPS').
Italian update and mandatory e-invoicing
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- Hits: 3405
Starting January 1, 2019, in Italy a mandatory electronic invoicing obligation will be in force for the supplies of goods or services.
Converting the sales middleman function from Commissionaire to LRD
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- Hits: 9971
The objective is to bring commissionaire arrangements within the framework of dependent agency PE. Companies are converting commissionaire to LRD. Once a commercial and tax-efficient structure is determined— one that addresses both historical and potential risk - it is time to take the theory behind the structure into the realm of practice.
SAF-T Poland per 1st July 2018 extended to taxpayers with more than 9 employees or 2 million EUR sales revenue
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- Hits: 4148
Filing SAF-T will be mandatory for large taxpayers: employ more than 250 people or 50 million EUR sales revenue irrespective of whether they are established in Poland or not. Per 1st July 2018 this extended to taxpayers with more than 9 employees or 2 million EUR sales revenue.
UK: Making Tax Digital (MTD)
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- Hits: 3776
An API to HMRC is mandatory from 1 April 2019. HMRC will, however, introduce a soft landing period' until 1 April 2020. Taxpayers will, in the end, have to transfer data without manual intervention.
Brexit - changes in SAP: assess, redesign and test
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- Hits: 4974
Although the EU VAT regime will remain in place until negotiations between the UK and the EU will be concluded, it is most likely that new UK VAT legislation will come into force in the spring of 2019.
Full VAT automation of AP and AR
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- Hits: 4705
If the aim of your organization is full VAT automation of AP and AR, it is important to have a clear understanding of your material risks at hand, and your lowest performing processes in order to define the functional specifications for a solution.
Norway SAF-T delayed to 2020
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- Hits: 4781
Norway has announced to introduce an on-demand mandatory Standard Audit File for Tax (‘SAF-T’) requirement for taxpayers starting from 1 January 2020.
Creating XML SAF-T Structures directly in SAP ECC
- Details
- Hits: 6812
Our SAF-T SAP add-on runs over SAP ECC, is compatible with OECD standard and covers the steps of creation of necessary structures in XML format including E-submission with signature and encryption.
Innovation and tax audits
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- Hits: 5505
Tax authorities, due to technological innovations, have become increasingly better in executing their tax audit.
SAF-T Portugal annual report obligation starting 2019
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- Hits: 7047
In Portugal, in addition to the existing monthly SAF-T submission listing of all sales invoices for VAT purposes, businesses are required to provide annual accounting file in SAF-T format.
SAP - submitting close to real time data to tax authorities
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- Hits: 66146
The Italian, Polish, Lithuanian and Spanish authorities passed a series of measures aimed at detecting and combating tax fraud.
Verify SAP VAT configuration
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- Hits: 5642
Verify VAT configuration A SAP review should highlight where the VAT configuration could be improved or if additional control measures should be added to the business’s Tax Control Framework.
Greece is introducing also mandatory e-invoicing
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- Hits: 3804
Greece intends to roll out a mandatory application of electronic invoicing and electronic bookkeeping. For companies that are involved in the public procurement, the law will be in force as of 2019.
Italy - Quarterly informative report VAT invoices data
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- Hits: 5013
The Italian authorities passed a series of measures aimed at detecting and combating tax fraud: "Quarterly informative report VAT invoices data".
Roadmap to implement VAT in SAP
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- Hits: 6341
For nearly every company, the accuracy and efficiency of local VAT compliance is completely dependent on the functionality of the underlying SAP system. Any incorrect set-up of the basic VAT configuration of their SAP systems can severely impact it’s processing.
About SAF-T and e-invoicing - country specific methods without harmonization
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- Hits: 4809
Tax administrations use technology to improve tax audit effectiveness as combating VAT fraud is a high priority. Digitalization of tax is a trend, so more countries will follow soon.
Being ready for GCC VAT introduction when operating SAP
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- Hits: 9916
The Governments of the Gulf Cooperation Council (GCC) - Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates that make up GCC - are committed to form a common framework for the introduction of value added tax (VAT) in the region.
High level overview of EU VAT system
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- Hits: 4071
A high level overview is provided of the EU VAT system: what is subject to VAT and the right and methods of VAT recoverability. It includes also a comparison with the US Sales and Use Taxes system.
SAP VAT health check for e-invoicing data requests in Hungary, Italy and Spain
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- Hits: 2729
We offer an SAP health check specifically on e-invoicing data requests such as Hungary, Italy and Spain and our method is based on the legal tax requirements defined in XML format and local VAT law.
A cost efficient way to submit SAF-T files and perform risk management
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- Hits: 4250
A SAF-T SAP add-on solution developed together by ‘Tax Assurance and certified SAP add-on specialists’ is now available for Poland, Lithuania and Norway.