Business

In today’s globalized economy, businesses face a myriad of options when it comes to optimizing their operations and leveraging external resources. Among these options are outsourcing, resourcing, subcontracting, offshoring, nearshoring, onshoring, and reshoring. Understanding the differences between these strategies is crucial for organizations seeking to maximize efficiency and maintain a competitive edge. In this article,

General Information The project on electronic invoicing kicked off with the national legislation of Act №215/2019 in August 2019 pursuant to the Directive 2014/55/EU of April 16, 2014 which regulates electronic invoicing obligations in public procurement. The new system proposes a central clearance model for electronic invoicing which is already in place in Italy and

1. Introduction The transposition of Directive 2014/55/EU into Greek law as Law №4601/2019 was adopted in the first quarter of 2019. The transposition was made in line with the text and scope of the Directive. Authorized institutions for eInvoice and eBooks in Greece are the Ministry of Finance and AADE. For that reason, technical and

General Description This paper summarizes the progress in e-invoicing process in Spain. Introduction The second stage of mandatory e-invoicing is initiated with the law “Creation and Growth of Companies (Law 18/2022, dated 28 September 2022)” that was published in State Official Gazette on 29 September 2022. The law mainly includes the mandatory use of electronic

On 18.12.2019, the Albanian parliament adopted the Law on Electronic Invoice and Turnover Tracking System, also known as eInvoice or Fiscalization Law. Within the scope of the law, it is aimed for all taxpayers to apply the eInvoice solution by transferring data over an internet connection using a secure network for issuing and receiving sales

Kazakhstan ESF/SNT/VWH System Local and global companies that want to do business in Kazakhstan will now be able to do their transactions over the web. All commercial activities to be performed in Kazakhstan will be carried out through a web-based portal called Electronic Invoice Information System (IS ESF). Electronic Invoice Information System (IS ESF) Let’s

According to the new Bookkeeping Law, which came into force on 01.07.2022 in Denmark, eInvoicing has become mandatory. The law requires businesses to exchange and archive invoices electronically. At the same time, the new law strengthens the work against fraud and errors in VAT and tax returns. Whether the digital bookkeeping requirement will take effect

The number of countries that attach importance to digitalization in public transactions is increasing day by day. The Ugandan government and Uganda Tax Administration (URA) started the transition to e-receipt and invoicing due to reasons such as non-bill/receipt issuance, spurious invoice and incorrect payments. The Ugandan government aims to pay the collected VAT while reducing

A Brief Overview of the Norwegian SAF-T The Norwegian SAF-T process came into effect for the first period with financial reporting after 1 January 2020. Before this date, the use of SAF-T was voluntary. Norwegian SAF-T (Standard Audit File — Tax) is a standard file format for exporting various types of accounting transactional data using

The Standard Audit File-Tax is a standardized file developed by the OECD that contains reliable data exported from an accounting system. Both the data format (XML) and data content are specified by the XSD schema file. With the regulation published in 2009, the Austrian Ministry of Finance (BMF) expanded the previously allowed data formats to