Fiscal subject related
HMRC has released new guidance detailing how businesses should submit their VAT returns if they are exempt from using compatible software for Making Tax Digital (MTD) for VAT.
The submission method will vary based on the reason for the exemption:
- For businesses that have applied for an exemption: They must complete either a paper or an online return using the VAT online account, as specified in HMRC’s exemption confirmation letter.
- For businesses under insolvency procedures: Paper returns are required unless the business has a Company Voluntary Arrangement or Individual Voluntary Arrangement, in which case they can choose between a paper return or the online account.
- For final VAT returns after deregistration: These must be submitted via the online account, as MTD software cannot be used to send returns post-deregistration.
Here is the link with the Guidance:
https://www.gov.uk/guidance/how-to-send-vat-returns-when-exempt-from-making-tax-digital-for-vat
Other news from Other countries
Latvia Embraces Digital Invoicing

Latvia is implementing mandatory e-invoicing starting in 2025 to simplify transactions, boost tax compliance, and reduce the shadow economy. The centralized model will be implemented for B2G transactions and B2B transactions in 2026. The initiative aims to reduce tax evasion, increase efficiency, and standardize EU-compliant formats. Challenges include technical upgrades, staff training, and initi... Read more
US and EU Join Forces to Improve e-Invoicing Compatibility

At the sixth Trade and Technology Council meeting, the US and EU agreed to strengthen electronic invoicing (e-invoicing) compatibility to lower trade costs, improve security, and simplify cross-border business operations. A new oversight body, the DBNAlliance, was launched to manage a shared exchange framework, allowing businesses to send and receive e-invoices through certified service providers.... Read more
Malaysia's E-Invoicing: MyInvois System Goes Live, Phased Implementation

Malaysia is gradually implementing mandatory e-invoicing from August 2024 to January 2026 for businesses with sales over RM150,000. Invoices must be approved by the tax authority before being sent to customers, using the MyInvois system and Peppol network. The rollout supports Malaysia’s push to modernize tax reporting and improve compliance. Malaysia is rolling out its MyInvois e-invoicing system... Read more
TLv6 Implementation Marks Significant Shift in EU’s Trust List Format
A new EU Trust List format, TLv6, will officially replace TLv5 in May 2025 as part of the updated eIDAS Regulation (EU 2024/1183). It introduces key technical changes like a new URI field, updated signature format, and optional phone number support. Organizations must update their systems to avoid signature validation failures and service disruptions, as TLv5 will no longer be valid once TLv6 take... Read more
India's GST E-Invoicing Update: 30-Day Deadline and B2C Expansion

From April 1, 2025, Indian businesses with turnover over ₹10 crore (approx. €112,000) must report B2B e-invoices within 30 days or lose GST input credit. Invoices are validated through the IRP, which issues a unique code and QR for sharing. B2C e-invoicing and e-way bill integration are planned by 2026–2027 to improve compliance. Starting 1 April 2025, Indian businesses with annual turnover over ₹... Read more
Chile: Mandatory Printed E-Invoices/Receipts for Customers Starting May 2025

Chilean Internal Revenue Service (SII) issued Resolution No. 12, requiring e-invoices and e-receipts to be delivered to customers for cash, bank transfers, debit, or credit cards, with the option to send a virtual presentation. On January 17th, Chile's tax authority, the SII, released Resolution No. 12. This resolution details new rules for businesses when giving customers printed copies of electr... Read more
Malaysia's E-Invoicing Mandate: AI Solutions for Compliance

The Malaysian Inland Revenue Board (IRBM) is implementing new rules that make e-invoicing mandatory in Malaysia, so businesses will need to adopt automated and AI-driven tools to ensure they're following the regulations. The deadline for e-invoicing in Malaysia starts on August 1, 2024, for larger businesses, and full compliance is expected by July 1, 2025. Companies will have to connect with MyIn... Read more