Malaysia Implements 10% Sales Tax onLow-Value Goods Starting Effective January 1, 2024, the Royal Malaysian Customs Department will enforce a 10% sales tax on cross-border purchases of goods valued at MYR500 or less. This new tax policy applies to all sales to both businesses and consumers in Malaysia.
SABIS: Lithuania’s New B2G e-Invoicing from July 2024 Starting July 1, 2024, invoices to public sector entities and contracting authorities in Lithuania must be submitted through the General Information System for Account Administration (SABIS). These invoices must comply with the European e-invoicing standard per Directive 2014/55/EU. The National Centre for General Functions (NBFC) is modernizing
Latvia Delays B2B E-Invoicing Mandate to 2028 On June 5, 2025, the Latvian Parliament officially postponed the start of mandatory B2B e-invoicing and e-reporting. The rollout, originally scheduled for January 2026, will now take effect in January 2028. The delay is due to limited business readiness, technical issues in the national invoicing platform Latvija.lv, and
Latvia Adopts Mandatory E-Invoicing with Phased Implementation Latvia has officially mandated electronic invoicing (e-invoicing) through amendments to the Accounting Law, published in the State Gazette on 12 November 2024. These amendments establish a phased approach to implementing mandatory e-invoicing for businesses: The parliament (Saeima) approved these amendments on 31 October 2024, and they align with the government’s
Latvia to introduce mandatory e-invoicing forB2B and B2G transactions from 2025 The Latvian Ministry of Finance released a draft law on May 27, 2024, mandating e-invoicing for B2B and B2G transactions, with phased implementation starting January 1, 2025. Timeline: Impact:
Latvia introduces mandatory B2B e-invoicing The Latvian Ministry of Finance has recently announced a forward-thinking plan for the period of 2024 to 2027, with the key feature being the implementation of a compulsory e-Invoicing system for B2B interactions. This initiative is poised to significantly alter the landscape of B2B transactions in Latvia by requiring the
Ukraine Introduces Major Amendments toCorporate Income Tax Declaration Form Effective June 13, 2025, the Ministry of Finance of Ukraine has implemented significant amendments to the Corporate Income Tax Declaration form under Order No. 215 dated April 24, 2025. These changes were introduced in accordance with Law No. 4112-IX, which incorporates the OECD’s recommendations on tax
SAF-T Electronic Reporting in Ukraine Starting January 1st, 2025, large taxpayers in Ukraine will be required to submit SAF-T (Standard Audit File for Tax) electronic files to the tax authorities. This mandate marks the first phase of a two-step implementation process: Large taxpayers are defined as legal entities with an income exceeding five hundred million
Singapore to Reclassify GST Business Rules asFatal Errors from May 2026 The Infocomm Media Development Authority (IMDA) has announced a significant compliance update to the InvoiceNow (Peppol) framework, which will take effect in May 2026. Several Goods and Services Tax (GST) business rules for electronic invoices and credit notes will be reclassified from warnings to
Singapore Announces Rollout Schedule forInvoiceNow Implementation The Inland Revenue Authority of Singapore (IRAS) has declared that starting in May 2025, there will be a staged rollout of InvoiceNow, the country’s e-invoicing system based on the Peppol network, specifically for GST-registered businesses. This initial phase will focus on B2B (business-to-business) transactions, with plans to expand to
