Author Archives: Mike Greven

Norway and Romania and (new) SAF-T requirements

Norway has announced changes regarding VAT returns that should come into force starting in January 2022. The main objective is to submit VAT returns from ERP systems. The VAT return will be based on SAF-T coding.

Romania has announced the introduction of SAF-T reporting requirements in 2022.

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.

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Germany and introduction of mandatory invoicing via clearance model

On the Germany Bundestag, "Introduction of a Digital System against VAT fraud" (February 10, 2021), the German introduction of mandatory e-invoicing is considered based on the Italian clearance model. In Italy, resident taxpayers submit their sales invoices to the tax authority's platform for approval. The tax authorities forward any approved invoices to customers for VAT processing and payment approval. Only the e-invoice is the VAT document for VAT deduction.

On the Germany Bundestag, “Introduction of a Digital System against VAT fraud” (February 10, 2021), the German introduction of mandatory e-invoicing is considered based on the Italian clearance model. In Italy, resident taxpayers submit their sales invoices to the tax authority’s platform for approval. The tax authorities forward any approved invoices to customers for VAT processing and payment approval. Only the e-invoice is the VAT document for VAT deduction.

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France and introduction of mandatory invoicing via clearance model

France introduced in its recently eFinance Law for 2021 mandatory e-invoicing. It will be launched in a phased approach. The requirement to provide e-invoices to businesses is combined with a condition to transmit the e-invoice data to the French tax authorities as part of an e-reporting mechanism. Under the new Law, these requirements will be phased between January 2023 and January 2025 depending on the company's size: 2023 for large companies (2023); mid-sized companies (2014); and small and medium companies (2025).

France introduced in its recently eFinance Law for 2021 mandatory e-invoicing. It will be launched in a phased approach. The requirement to provide e-invoices to businesses is combined with a condition to transmit the e-invoice data to the French tax authorities as part of an e-reporting mechanism. Under the new Law, these requirements will be phased between January 2023 and January 2025 depending on the company’s size: 2023 for large companies (2023); mid-sized companies (2014); and small and medium companies (2025).

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Slovakia and introduction of mandatory invoicing via clearance model

Slovakia has published legal proposals to introduce an e-invoice clearance model for B2B.

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.

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Saudi Arabia and introduction of mandatory invoicing via clearance model

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.

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.

Source: KGT

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SAP ACR for SAP HANA for managing your statutory tax reporting

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.

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SAP add-on for Indian e-invoicing up-and-running within four weeks

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.

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.

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.
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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.
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.