The Philippines Bureau of Internal Revenue (BIR) is implementing an Electronic Invoicing System (EIS) initially targeting the top 100 taxpayers to streamline tax reporting and improve compliance. The EIS, which requires businesses to submit electronic invoices in JSON format through an API, aims to reduce tax fraud, enhance trade competitiveness, and encourage digital transformation. Businesses ar... Read more

Singaporean businesses are gearing up for significant changes to the Goods and Services Tax (GST) system with the progressive rollout of GST InvoiceNow starting in 2025. The goal off this initiative, which is an extension of the existing InvoiceNow network, is to simplify invoicing processes, enhance tax compliance, and reduce administrative burdens. GST InvoiceNow will enable direct, electronic t... Read more

The GST Council has announced plans to introduce B2C e-invoicing in India, starting with a voluntary pilot in 2024-25, followed by gradual expansion and mandatory implementation by 2026-27 if successful. Similar to the B2B system, businesses will generate and upload invoices to the Invoice Registration Portal (IRP) for validation, ensuring tax compliance and fraud prevention. While B2C e-invoicing... Read more

China’s VAT regulations, in place for 31 years, will be replaced by a new VAT Law on January 1, 2026, marking a significant shift in the country’s tax system. On December 25, 2024, China’s legislature passed the Value-Added Tax Law, replacing the Interim VAT Regulations. The State Council is expected to issue Implementing Regulations to provide further guidance. The new VAT law aims to improve tax... Read more

The Inland Revenue Authority of Singapore (IRAS) has announced a phased voluntary rollout of e-invoice data reporting via the InvoiceNow network. Starting May 1, 2025, GST-registered businesses can adopt it voluntarily. Newly incorporated companies will follow on November 1, 2025, and all new voluntary GST registrants on April 1, 2026. Built on the Peppol network, InvoiceNow allows businesses to e... Read more

The Dutch Tax Authorities are exploring real-time taxation, where VAT is automatically calculated and transferred at the moment of payment, eliminating the need for quarterly filings. This system aims to reduce administrative burdens for businesses and improve tax compliance by enabling more efficient audits. Described as the "holy grail of taxation," it is currently under further study for potent... Read more