The "Digital Transformation in VAT" conference has been organized and will take place on Wednesday, November 16, 2022, where national plans and various digital reporting models for specific countries will be introduced. One of them was for Sweden. More specifically, from the Swedish perspective, the future VAT reporting model was presented, but only in general and with no concrete information. One of the reasons is, for sure, that it has not been confirmed yet. After that, the Swedish authorities will start to work with concrete models and legislation.
The future of VAT: reporting and invoicing in Sweden
Public
Other countries
Author: Kristina Dosen
Category:
Fiscal subject related
Views:
820
Content accuracy validation date:
08.12.2022
Content accuracy validation time:
11:24h
The speaker from the Swedish tax agency made a comparison of how VAT reporting models were before, how they are now, and what expectations there are for the future. What is certain is that all EU countries are heading in the same direction: more data from invoices, real-time reporting models, data storage and access, network analysis and continuous reporting; and so on. The goal is for everything to be at a higher level and harmonized across the EU. It is also stated that transaction-based reporting will probably be a reality in Sweden within five to ten years.
Then, there was a word about some open questions in terms of how the e-invoice model will look and whether there are any alternatives. A comparison of the cost of implementations that are already known in some countries, not only in the EU, has been introduced, as have some requirements and regulations that must be made from a technical perspective and what the expected benefits of these models are for the State Tax Agency. After that, the speaker presented non-standardized and standardized models of sending invoices from consumers to the Tax Authority scheme and how data flow will look, but only a general approach in terms of how digitalizing these reports will be better than how it was before and how it will affect different sectors such as banks, accountants, ERP systems, public agencies, etc. and how it will affect different kinds of VAT relevant documents such as invoices, simplified invoices, orders, purchases to pay, etc., which is important, especially from the fiscalization perspective.
Other news from Other countries
India to Launch B2C E-Invoicing Pilot, Full Rollout Expected by 2026-27
Public
Other countries
Author: Ivana Picajkić
Other countries
Author: Ivana Picajkić
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 Law: Main Changes & Implications for Tax Professionals
Public
Other countries
Author: Ivana Picajkić
Other countries
Author: Ivana Picajkić
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
Singapore to Begin Phased Rollout of E-Invoice Reporting via InvoiceNow in May 2025
Public
Other countries
Author: Ivana Picajkić
Other countries
Author: Ivana Picajkić
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 Netherlands Welcomes Real-Time Taxation: A Game-Changer for VAT Payments
Public
Other countries
Author: Ivana Picajkić
Other countries
Author: Ivana Picajkić
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
The Netherlands: VAT on Accommodation Set to Rise from 9% to 21% Starting January 2026
Public
Other countries
Author: Ivana Picajkić
Other countries
Author: Ivana Picajkić
Starting January 1, 2026, the VAT rate on accommodation will increase from 9% to 21%, affecting both new and existing group accommodation contracts. This change, confirmed by the State Secretary of Finance, is part of the 2025 Tax Plan and will apply to payments made in 2025 for services provided in 2026. The government has stated that it cannot exempt group accommodations from this increase due t... Read more
Reminder: Indonesia Implemented New VAT Regulations with 12% Rate Effective January 1, 2025
Public
Other countries
Author: Ivana Picajkić
Other countries
Author: Ivana Picajkić
On December 31, 2024, the Indonesian Minister of Finance issued Regulation No. 131 of 2024 (PMK-131), which establishes a 12% value-added tax (VAT) effective January 1, 2025, applying to both luxury and non-luxury goods. The regulation outlines the calculation of the tax base, including a transition period allowing for an alternative tax base for deliveries to end consumers until January 31, 2025.... Read more
The Netherlands: VAT Fines for E-Commerce Set to Resume; Businesses Must Adhere to Compliance to Avoid Penalties
Public
Other countries
Author: Ivana Picajkić
Other countries
Author: Ivana Picajkić
The Dutch government has announced that administrative fines for non-payment or late payment of VAT on e-commerce transactions will resume on January 1, 2025, following a temporary waiver that began with the implementation of the EU’s 2021 e-commerce VAT reforms. This decision comes after addressing initial compliance challenges and aims to reinforce adherence to the One Stop Shop (OSS) VAT report... Read more