Global VAT & Indirect Tax News

The article argues that structured e-invoicing is essential for real-time compliance, contrasting it with static PDF invoices that are likened to paper maps. It highlights the limitations of PDFs in modern tax and audit contexts and stresses the need for machine‑enforceable, globally standardised data objects. The piece serves as a commentary on the evolving expectations of tax authorities and the strategic importance of real‑time visibility for CFOs.

Serbia’s new e‑invoicing law, adopted in Official Gazette No. 109/2025, introduces mandatory e‑invoicing for retail sales to corporate cardholders and public sector entities, postpones pre‑filled VAT returns to 2027, and requires internal invoices to be generated in the SEF system. The Ministry of Finance also released SEF version 3.14.0 with new validation and reporting features.

Malaysia has postponed the rollout of its MyInvois e‑invoicing system for businesses with annual turnover between RM1 million and RM5 million, moving the implementation date to 2027. The change reflects a shift in the national e‑invoicing roadmap and raises the threshold for mandatory e‑invoicing. Businesses in this turnover bracket must prepare to comply by 2027.

Ukraine requires all VAT‑registered businesses to issue electronic invoices in XML format and submit them to the Unified Register of Tax Invoices before sending them to recipients. Public sector suppliers must use e‑invoicing for all transactions, with digital signatures mandatory and invoices archived for three years.

Ukraine requires electronic invoicing for taxpayers with annual revenue above UAH 1 million, and mandates SAF‑T reporting for SMEs since 1 Jan 2023 and for large enterprises since 1 Jan 2022. The Cabinet adopted a two‑year experimental e‑TTN project on 30 May 2024, which will become mandatory after the trial period, eliminating paper consignment notes.