If you are struggling with complex e-invoicing implementations across multiple countries, and if you are concerned about mounting costs, potential delays, or compliance risks, our webinar will help you to learn how global retailers can streamline e-invoicing efficiently! With countries worldwide mandating e-invoicing, international retailers face unique challenges adapting to new regulations acros... Read more

The Voluntary Disclosure Program (VDP) allows taxpayers to correct VAT errors by voluntarily reporting them, which can help reduce penalties from SARS or prevent legal action if SARS discovers the mistake independently. Applicants must meet several criteria, and if approved, SARS will issue a written agreement detailing the relief granted and any outstanding liabilities. The VDP agreement is legal... Read more

On 30 September 2024, SARS passed the Binding General Ruling (VAT) 27 (Issue 2). It outlines a binding general ruling regarding the Value-Added Tax (VAT) Act, specifically addressing when vendors are not required to issue tax invoices, credit notes, or debit notes. The VAT Act outlines specific requirements for tax invoices, credit notes, and debit notes. However, the Commissioner can approve exce... Read more

The Minister of Finance plans to introduce the Tax Administration Law Amendment Bill, 2024, in the National Assembly soon. This Bill aims to amend several key acts, including the Value-Added Tax Act, 1991. The Bill aims to amend several key acts including the Value-Added Tax Act, 1991. The proposed amendments to the Value-Added Tax Act, 1991, include: Extended Time for VAT Accounting: The perio... Read more

South Africa's National Treasury is set to implement legislative changes regarding the VAT treatment of Electronic Services Providers, as announced in the 2024 Budget Speech. A consultation on a reverse charge mechanism for B2B digital services provided by non-residents took place on August 31, 2024, and this new system will come into effect on April 1, 2025. South Africa’s National Treasury... Read more

Tech company Apple has significantly simplified payment processes for small businesses and consumers across the country by making its Tap to Pay service available in several European nations, including Czechia. Launched in 2022, Tap to Pay now complements the Czech Cvak service as a modern solution for cashless transactions that does not require a traditional payment terminal. With Tap to Pay, iPh... Read more

The Hong Kong Inland Revenue Department has announced a reduction in the annual interest rate on Tax Reserve Certificates from 0.8000% to 0.7167%, effective November 4, 2024. These certificates earn simple interest calculated monthly from the purchase date until tax payment, with interest credited only when the certificates are used for tax payments. The new rate applies to certificates purchased... Read more