Ministry of Finance (MoF) works within the framework of Regulation No. 522 to reduce the informal economy and prevent corruption. To this end, transition to e-invoices has been made on a voluntary basis since July 1, 2019, and mandatory since January 1, 2020 for all economic organizations in the country. Therefore MoF, “UzASBO Faktura” UzASBO
Vietnam started the e-invoicing process in 2018, with the approval of Decree No. 119. According to the new decree, compliance period for companies has been extended to two years. However, ongoing Covid-19 process and other difficult challenges have made the Vietnamese government mandatory to postpone the compulsory use of e-invoices until July 2022 in accordance
E-Invoicing Process Runs in Thailand The Thai government is working to develop a powerful e-invoicing system using certified service providers. This is a viable alternative for businesses. Because e-tax invoicing involves complex technical and legal steps for businesses. The government has taken steps to eliminate this complexity and regulate the invoicing system. Accordingly, the Electronic
E-Invoice in Paraguay The Paraguayan government has approved the start of a trial program to test the functionality of the new financial document issuing system called E-KUATIA. The Paraguay Tax Authority (SET) will select taxpayers to participate in the probationary program. E-KUATIA is a system offered to taxpayers to facilitate the issuance and delivery of
Albania has begun to review its tax system with its mandatory e-invoicing system. As of July 1, any company performing B2B transactions will need to submit their invoices electronically to the General Directorate of Taxes. As of September, companies that perform B2C transactions will also have to comply with e-invoice application. Albania has established a
Brazil was one of the pioneers in terms of e-invoicing in Latin America – around the world – as the country introduced a total clearance model for e-invoicing back in 2005. Although the Brazilian e-invoices clearing systems are relatively mature and stable, both the tax regulations and the clearing process for e-bills are still considered
Poland is the fourth country in the European Union, after Spain, Portugal, and Italy, to introduce electronic invoicing. The law implementing the e-invoicing directive (2014/55 / EU) in the country has been in force since April 18, 2019. The government has created a platform (PEF) for the implementation of the B2G directive on electronic invoicing
Digital Transformation of Egypt Egypt introduced a groundbreaking electronic invoicing (e-Invoice) system last Sunday. Egyptian Finance Minister M. Maait stated that the e-invoicing system, which will be the first in the country’s financial history, is an important milestone in Egypt’s digital transformation as part of Vision 2030. It is envisaged that this system will help
France, which has a deeply rooted democracy tradition, is the second-largest economy in the European Union after Germany. In 2020, with 31 companies, it ranked France 5th among the 500 largest companies in the world. 1. The role of the state in the economy The government of France actively influences the French economy, which is
Kazakhstan, whose economy is based on fossil fuels such as oil and natural gas, is also one of the richest raw material resource countries in Central Asia. Although it is the ninth largest country in the world, it only has 16 million inhabitants. After the collapse of the USSR, Kazakhstan made many changes in tax
