Albania is moving from a paper-based invoicing system to a real-time e-invoicing system. On July 1, 2021, a company that provides B2B transactions must submit its invoices electronically. As of September 2021, all companies that supply B2C transactions must also comply.
Slovakia has published legal proposals to introduce an e-invoice clearance model for B2B.
We can develop any new country introductions within two months as we reuse the know-how of the e-invoicing R&D of countries currently operational at multinationals. Installation time will be 3-4 weeks as our solutions work standalone and do not share client-specific objects, so retesting other country modules installed is not needed during implementation. New country SAP add-on installed never impact other country modules already operational.
The Kingdom of Saudi Arabia (KSA) has announced it will introduce an e-invoicing framework for resident companies with an expected go-live date of December 4, 2021.
The announcement was published on December 4, 2020, and the Saudi authorities has released its details on the e-invoicing framework. That includes the system and technical requirements relating to the implementation of e-invoicing by businesses. That means we started, and we can develop quickly, as proven with our Egyptian SAP add-on solution, and install in around four weeks.
E-invoicing regulations are integral and complementary to the Value Added Tax (VAT) Implementing Regulations and apply to all taxpayers subject to VAT. The new regulations define the terms, requirements, and conditions related to electronic invoices.
KGT delivers a fully SAP-integrated solution to submit the requested tax data in an automated way. A turn-key SAP add-on that enhance standard SAP to timely submit tax reporting.
Source: KGT
Poland will impose mandatory electronic B2B invoicing by 2023 to help reduce VAT fraud. Initially. There will be a voluntary phase from October 2021. The incentive for taxpayers to opt voluntarily is a quick VAT credit repayments of 40 days and no requirement anymore to submit SAF-T (JPK_FA) files.
The ‘Advanced Compliance Reporting’ (ACR) service enables you to configure, generate, analyze, and electronically submit statutory reports that contain indirect taxes, such as value-added tax. The tax computations in these reports following government’s guidelines.
KGT develops SAP add-ons to realize that its multinational clients can manage their statutory reporting obligations such as VAT return, withholding tax, EC sales list, audit files requirements, etc. KGT reuses its know-how and provides SAP HANA configuring support for ACR to generate and submit statutory tax reports. Due to our SAP tax expertise, KGT works closely with the SAP product team based in San Jose, California.
SAP ACR is integrated with the S/4HANA On-Premise and Cloud editions. It can also be made available for SAP ECC, using the SAP Localization Hub (SLH) – Advanced Compliance Reporting service.
The Indian Goods & Services Tax (GST) Council has an e-invoice reporting obligation (in JSON format). The good news for those mid-sized taxpayers is that our clients that exceeded that threshold have our Indian e-invoicing SAP add-on operational in advance of the deadline of January 1, 2021. That means we have a proven concept for (prospect) clients that are currently below the threshold and are part of the next wave.
By January 1, 2021, it will be available to taxpayers with an annual turnover over Rs 100 crore.
KGT has developed an SAP-integrated solution with the cockpit to select reportable outgoing invoices, create periodic Indian e-invoicing, E-submission of Indian JSON files, and control reports and the functionality. Although not yet a mandatory requirement, the solution is ready for FI invoicing. We can add the QR Code, IRN, into the SAP script. The other key GST processes features we developed for optimum GST management are electronic waybill (‘E-way bill’) and GST returns, GST reconciliations and GST input credit utilization against its eligibility.
Our clients, were on the first wave, and both have the solution operational. If your company was not mentioned on these government lists for the first and second waves in the publications, it means you are in the wave of 2022.
Egyptian VAT-registered businesses must issue electronic tax invoices that include the electronic signature of its issuer and the standard code for the good or service subject to the invoice approved by the Egyptian tax authorities (ETA). KGT SAP add-on works as a standalone application within the SAP system and does not change existing customer SAP functionality or processes. Fully configurable with custom namespace /KGT.
KGT can meet the four-week timeline because the Egyptian tax authorities published excellent and complete technical & functional requirements. We developed and activated compelling extraction logic, including setting up an ‘easy to manage’ customizing table. Additionally, the other taxpayers’ bottlenecks during the implementation have been sorted, such as the rounding off issue that could apply when the SAP method set up conflicts with Egyptian rounding off tax rules. It means the solution is a Plug & Play SAP add-on. We have developed a standalone SAP add-on that does not share objects, so other countries’ modules cannot be impacted during the installation and maintenance of a specific country.
KGT Global Tax Applications 