Tax News Daily
The latest tax news from around the world, summarised and tagged for tax professionals. Updated twice daily.
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Parliament Approves Mandatory E-Invoicing and Digital Bookkeeping
Parliament has approved legislation mandating e-invoicing and digital bookkeeping, marking a significant shift toward digital tax compliance infrastructure. The measures require businesses to adopt electronic invoicing systems and maintain digital records, aligning with broader EU and global trends toward real-time tax reporting and digital audit trails. The legislation signals a move away from paper-based invoicing and manual bookkeeping practices, imposing new compliance obligations on businesses. Tax professionals should assess client readiness for system upgrades, data management requirements, and implementation timelines. The approval represents a structural change to how businesses must record and report financial transactions to tax authorities.
FeRD Publishes ZUGFeRD 2.5 / Factur-X 1.09 (Two-Step Release)
The Forum Elektronische Rechnung Deutschland (FeRD) has published ZUGFeRD 2.5 / Factur-X 1.09 in a two-step release, representing the latest iteration of the joint German-French structured e-invoicing standard. ZUGFeRD and Factur-X are hybrid PDF/XML invoice formats widely used for B2B and B2G electronic invoicing compliance across Germany and France. This update introduces technical refinements and expanded functionality to the standard, which underpins mandatory e-invoicing obligations in both jurisdictions. Tax professionals operating in Germany or France, or supplying to counterparties there, should review the updated specification to ensure their invoicing systems and ERP integrations remain compliant with the revised format requirements.
Public Consultation on eInvoicing Directive Revision Closes
The public consultation on the revision of the eInvoicing Directive has officially closed, marking a significant step in the EU's efforts to modernize and standardize electronic invoicing across member states. The consultation sought stakeholder input on proposed changes to the existing framework governing eInvoicing requirements for public procurement and potentially broader business-to-business transactions. Responses from businesses, tax authorities, and professional bodies will inform the European Commission's legislative proposals aimed at harmonizing eInvoicing standards, reducing compliance burdens, and supporting VAT compliance through digital reporting. The revision is closely linked to the broader VAT in the Digital Age (ViDA) initiative and ongoing efforts to combat tax fraud across the EU.
Mathez Compliance – June 2026 Training Sessions (French)
Mathez Compliance is offering training sessions in French scheduled for June 2026, as highlighted on VAT Update. These sessions are designed to provide tax professionals with practical knowledge and updates on compliance matters, likely covering VAT and related indirect tax obligations. The training is delivered in French, suggesting a focus on French-speaking markets, potentially targeting professionals in France, Belgium, Switzerland, or other Francophone jurisdictions. Such compliance training programs are essential for keeping practitioners current with evolving regulatory requirements, filing obligations, and best practices in indirect tax management. Specific session topics and registration details would be available via the Mathez Compliance platform.
PSW, NTC ink accord to automate Tariff System
Pakistan's Pakistan Single Window (PSW) and the National Tariff Commission (NTC) have signed an agreement to automate the tariff system, aimed at streamlining customs and trade processes. The accord will integrate NTC's tariff-related functions into the PSW platform, enhancing efficiency in tariff classification, trade remedy investigations, and duty determination. This digitalization initiative seeks to reduce manual intervention, improve transparency, and accelerate trade facilitation for importers and exporters. The automation aligns with Pakistan's broader efforts to modernize its customs infrastructure and comply with international trade standards, potentially impacting how anti-dumping, countervailing, and safeguard duties are administered.
Senate panel approves abolition of CVT on foreign assets
A Pakistani Senate panel has approved the abolition of Capital Value Tax (CVT) on foreign assets held by Pakistani residents. The CVT on foreign assets was introduced as part of efforts to document offshore holdings, but the Senate committee has now backed its removal. This legislative development is significant for Pakistani taxpayers with foreign asset exposure, as it eliminates an additional tax burden on overseas holdings. Tax professionals advising high-net-worth individuals or businesses with cross-border asset structures in Pakistan should note this regulatory change, which reduces compliance obligations and tax costs associated with foreign asset ownership under Pakistani tax law.
Guidance: Excise tax types, excise duty rates and supplementary guidance
HMRC has published comprehensive guidance on excise tax types and duty rates applicable in the United Kingdom, along with supplementary guidance for tax professionals and businesses. The publication covers the various categories of excise duties, including those on alcohol, tobacco, and fuel/energy products, detailing the applicable rates and compliance requirements. This guidance serves as a reference for businesses subject to excise obligations, customs agents, and tax advisers managing excise duty registrations and returns. The document is hosted on the UK government's official portal and provides updated rate schedules and procedural information relevant to excise duty administration and compliance in the UK.
Guidance: Excise duty hydrocarbon oils rates and allowances
This UK government guidance document sets out the current excise duty rates and allowances applicable to hydrocarbon oils, including petrol, diesel, biodiesel, bioethanol, and other fuel types. The publication provides tax professionals and businesses with the official reference for duty rates per litre across various fuel categories, including rebated fuels such as red diesel and kerosene. It is relevant for fuel importers, manufacturers, distributors, and businesses managing fuel duty compliance. The rates are periodically updated following Budget announcements and are administered by HMRC. Understanding these rates is essential for accurate duty accounting, fuel duty relief claims, and compliance with UK excise legislation.
Why Fragmented Tax Data Is Slowing Down Tax Teams
Fragmented tax data is identified as a primary obstacle to tax team efficiency, causing compliance failures, excessive manual reconciliation, and delayed error detection. Drawing on tax maturity data, the article examines how disconnected systems and siloed data sources prevent tax teams from operating proactively. When transaction data, ERP outputs, and compliance records are not integrated, teams spend disproportionate time gathering and reconciling information rather than analysing it. The piece argues that consolidating tax data infrastructure is essential for accurate reporting, timely filing, and audit readiness, positioning data fragmentation as a structural rather than a purely operational problem for modern tax functions.
Romania – E-Invoicing, E-Ordering, E-Archiving and Indirect Tax Regulatory Updates
Thomson Reuters provides ongoing compliance and regulatory updates for Romania, focusing on e-invoicing, e-ordering, e-archiving, and indirect tax requirements. Romania has been a significant jurisdiction for digital tax compliance mandates, having implemented mandatory B2B e-invoicing through its RO e-Factura system. Tax professionals operating in Romania must stay current with evolving obligations around electronic invoice issuance, submission to the national tax authority (ANAF), and archiving standards. This page serves as a tracker for regulatory changes affecting businesses transacting in Romania, covering both domestic and cross-border indirect tax compliance requirements under Romanian and EU frameworks.
UAE Tax and E-Invoicing Regulatory Updates
Thomson Reuters provides regulatory compliance updates for the United Arab Emirates, focusing on e-invoicing, e-ordering, e-archiving, and indirect tax requirements. The UAE has been progressively developing its VAT framework since the introduction of VAT in 2018 at a standard rate of 5%. The page serves as a resource hub for tax professionals monitoring UAE indirect tax obligations, digital compliance mandates, and evolving e-invoicing requirements. Businesses operating in the UAE should stay informed of Federal Tax Authority (FTA) updates affecting VAT reporting, invoice formats, and archiving obligations to ensure continued compliance with UAE tax legislation.
Greece – E-Invoicing, E-Ordering, E-Archiving and Indirect Tax Regulatory Updates
Thomson Reuters provides ongoing regulatory updates for Greece covering e-invoicing, e-ordering, e-archiving, and indirect tax compliance requirements. The page serves as a hub for tax professionals monitoring Greece's digital tax reporting obligations and VAT-related regulatory changes. Greece has been expanding its electronic invoicing infrastructure, including the myDATA platform, which requires businesses to transmit invoice data to the Greek tax authority in real time. Compliance professionals should monitor developments around mandatory e-invoicing scope, VAT reporting obligations, and archiving requirements to ensure adherence to Greek tax authority mandates.
Slovakia – E-Invoicing, E-Ordering, E-Archiving and Indirect Tax Regulatory Updates
Thomson Reuters provides regulatory compliance updates for Slovakia, focusing on e-invoicing, e-ordering, e-archiving, and indirect tax requirements. The page serves as a hub for the latest developments in Slovak VAT and digital compliance obligations affecting businesses operating in Slovakia. Key areas covered include electronic invoicing mandates, indirect tax regulatory changes, and compliance requirements relevant to VAT-registered entities. Tax professionals should monitor this resource for updates on Slovakia's adoption of digital tax reporting standards and any legislative changes impacting VAT compliance and electronic document exchange requirements within the Slovak jurisdiction.
Spain – E-Invoicing, E-Ordering, E-Archiving and Indirect Tax Regulatory Updates
Thomson Reuters' regulatory update hub for Spain covers the latest developments in e-invoicing, e-ordering, e-archiving, and indirect tax compliance requirements. The page serves as a tracker for Spanish tax and digital reporting obligations, reflecting Spain's ongoing implementation of mandatory B2B e-invoicing under the Crea y Crece law and the VeriFactu real-time reporting system. Tax professionals operating in Spain should monitor this resource for updates on technical specifications, timelines, and compliance obligations affecting businesses required to issue structured electronic invoices and maintain audit-ready digital records under Spanish tax authority (AEAT) requirements.
Singapore – E-Invoicing, Indirect Tax and Regulatory Updates
Thomson Reuters' regulatory update hub for Singapore covers the latest developments in e-invoicing, e-ordering, e-archiving, and indirect tax compliance requirements. The page serves as a central resource for tax professionals monitoring Singapore's GST obligations and digital compliance mandates. Singapore has been progressively advancing its InvoiceNow e-invoicing framework based on the Peppol network, with phased adoption requirements for GST-registered businesses. Professionals should monitor changes to GST rates, scope, and filing obligations, as well as Singapore's expanding requirements for electronic transaction reporting, to ensure systems and processes remain compliant with the Inland Revenue Authority of Singapore (IRAS) mandates.
Norway – E-Invoicing, E-Ordering, E-Archiving and Indirect Tax Regulatory Updates
Thomson Reuters provides ongoing compliance and regulatory updates for Norway, focusing on e-invoicing, e-ordering, e-archiving, and indirect tax requirements. The page serves as a dedicated resource for tax professionals monitoring Norway's digital compliance obligations and VAT/indirect tax regulatory landscape. Norway, while not an EU member, participates in the European Economic Area and aligns with many EU standards on electronic invoicing and indirect taxation. Businesses operating in or transacting with Norway must stay current with local mandates governing electronic document exchange and VAT reporting to ensure full compliance with Norwegian tax authority requirements.
Curaçao Prepares VAT Implementation
Curaçao is advancing plans to implement a value-added tax (VAT) system, marking a significant shift in the island territory's indirect tax framework. The move signals a modernisation of Curaçao's tax structure, replacing or supplementing existing turnover-based taxes with a consumption tax model more aligned with international standards. Tax professionals should monitor legislative developments, proposed VAT rates, registration thresholds, and transitional arrangements as the implementation progresses. The reform reflects broader efforts across Caribbean jurisdictions to strengthen fiscal revenues and align with global indirect tax norms. Further details on the VAT design, scope, and timeline are expected as the legislative process unfolds.
Ukraine VAT on Digital Services from Foreign Providers – January 2022
From January 2022, Ukraine introduced VAT obligations on foreign providers of digital services supplied to Ukrainian consumers. Non-resident digital service providers are required to register for VAT in Ukraine and account for VAT on B2C supplies of electronic services. The measure aligns Ukraine with the broader global trend of taxing cross-border digital services at the point of consumption, similar to frameworks adopted across the EU and other jurisdictions. Affected services likely include streaming, software, and other electronically supplied services. Foreign providers must navigate Ukrainian VAT registration and compliance requirements when supplying to Ukrainian-resident customers.
UAE E-Invoice Plans 2022
The article covers the United Arab Emirates' planned rollout of electronic invoicing (e-invoicing) as outlined in 2022. The UAE authorities signalled intentions to implement a mandatory e-invoicing framework, aligning with broader Gulf region digital tax administration trends. The initiative aims to improve VAT compliance, reduce fraud, and streamline tax reporting for businesses operating in the UAE. Tax professionals should monitor the Federal Tax Authority's phased implementation timeline, technical standards for structured invoice data, and integration requirements for ERP and accounting systems. The move mirrors similar e-invoicing mandates introduced across the GCC and globally.
Romania e-VAT Pre-Filled VAT Returns
Romania has introduced an e-VAT system featuring pre-filled VAT returns, representing a significant compliance development for businesses operating in the country. The Romanian tax authority (ANAF) leverages data from mandatory e-invoicing and other digital reporting obligations to pre-populate VAT return data for taxpayers. This initiative aims to reduce errors, streamline compliance, and enhance tax authority oversight. Businesses must review and validate pre-filled returns before submission. The system aligns with broader EU digital tax administration trends. Tax professionals advising Romanian-registered entities should assess data reconciliation processes and ensure transactional data flowing into e-invoicing systems accurately reflects VAT positions to avoid discrepancies in pre-filled returns.
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