Fonoa

📣 Big news from Fonoa: we have acquired Global Indirect Tax Compliance, a PwC UK product! We’ve built Fonoa into the first truly global end-to-end indirect tax automation platform and the majority of our customers operate across borders and in multiple jurisdictions. GITC currently has more than 40 clients, primarily in financial services, and it will have a big impact on our customers when it comes to managing partial exemptions when doing business across multiple jurisdictions. In particular, GITC will: ➡️ minimise repetitive work ➡️ enable indirect teams to protect their valuable time ➡️ leverage best-in-class technology To make the acquisition seamless, we will integrate GITC into our other Fonoa products, including tax ID validation, tax calculations, and e-invoicing, so you’ll soon be able to enjoy the benefits of this product in the Fonoa platform.  This is all part of our mission to build the most sophisticated global indirect tax platform in the world. 🌎 Read the full news article here: https://lnkd.in/eHdYmeGk #taxtech #indirecttax #compliance 

🇦🇪 UAE Publishes Further Details on Upcoming E-Invoicing Mandate 🗓️ Phase 1 of the e-invoicing and reporting obligation will commence in July 2026, with legislation expected by Q2 2025. Read more ➡️ https://lnkd.in/egDxt9Dx #UAE #EInvoicing #TaxCompliance #EInvoicingMandate

🇫🇷 📣 France’s rollout of mandatory e-invoicing between businesses, a key part of the government’s digitalization and tax compliance efforts, may be delayed again. What Does This Mean for the Rollout? Read more ➡️ https://lnkd.in/epTXGXar #EInvoicing #TaxCompliance #BusinessRegulations #EInvoicingUpdate #FinanceNews

🇩🇪 📣 German Ministry of Finance Releases E-Invoicing Guidelines for 2025 Rollout. 🗓️ On October 15, 2024, the German Ministry of Finance released the finalized guidelines for mandatory electronic invoicing between domestic businesses, effective January 1, 2025. Read more about the timeline and impact here ➡️ https://lnkd.in/eszTCQ6s #EInvoicing #TaxCompliance #BusinessRegulations #EInvoicing2025 #FinanceNews

📣 🇵🇹 Tax Alert: Portuguese 2025 Budget Law Proposes a Delay in QES (authenticity & integrity) and SAF-T Obligations 🗓️ The Portuguese 2025 Budget proposal, published October 10, 2024, includes a provision postponing the requirement to apply a qualified electronic signature/seal (QES) on all electronic invoices. Under this draft law, the QES requirement will become mandatory from January 1, 2026. This means that until the end of 2025, PDF invoices without a QES will be considered valid electronic invoices for all tax purposes. Postponement of the accounting SAF-T obligation has also been suggested. If enacted, the obligation will be applicable from 2026 and onwards, meaning that SAF-T submission will be required from 2027. 👀 Keep an eye on our Blog for more breaking tax alerts: https://lnkd.in/erwGbWYX

🔈 ICYMI: We acquired Global Indirect Tax Compliance, a PwC UK product! GITC has been designed to manage partial exemptions when doing business across multiple jurisdictions. We can’t wait to integrate GITC into the Fonoa platform, including in our tax ID validation, tax calculations and return filing products. This will save indirect tax teams time and money, enabling them to leverage best-in-class technology. Read more about how this fits with our aim to build the most sophisticated global indirect tax platform in the world ➡️ https://lnkd.in/eHdYmeGk #taxtech #indirecttax #compliance 

🇪🇬 With the announcement of Egypt's new B2B VAT rules, Attila Felföldi, our TaxTech Manager, along with Rob van der Woude, Fonoa’s Chief Tax Officer, have recorded a short webinar to address all your 🔥 burning questions. Catch the 15-minute breakdown here ➡️ https://lnkd.in/ej4DqgFU #VAT #Egypt #Tax

📣 🇵🇪 Peru has delayed the implementation of its 18% VAT on cross-border digital services. ⏱ The VAT requirement, initially scheduled for October 1, 2024, will now take effect on December 1, 2024. Read the full impact here ➡ https://lnkd.in/eNZWZf5B #TaxCompliance #DigitalServices #VAT #GlobalBusiness #Peru #GlobalTax #TaxNews

🚨 Heads Up: Egypt Set to Mandate Tax ID Validation for B2B Sales 🇪🇬 Big changes are on the horizon for businesses selling digital services into Egypt! Starting November 1, 2024, non-resident vendors may be required to validate their B2B buyers' Tax Registration Number (TRN) and a new Unique Identification Number (UIN). This step is crucial to justify zero-rated transactions under the reverse charge VAT mechanism. Without proper validation, vendors could be liable to charge Egyptian VAT. 💼💡 📌 Key Takeaways: ➡ Who’s Affected: Digital service providers (software, streaming, ads, etc.) to Egyptian buyers. ➡What's Required: Automating TRN and UIN validation to ensure compliance. No manual option will be available, so systems need to be ready before the effective date. ➡Egyptian Buyers: Local businesses will need to register for a UIN and renew it annually. 🗓 Important Dates: October 1, 2024: UIN registration opens. November 1, 2024: TRN and UIN validation becomes mandatory. Stay ahead of these new regulations—prepare now to ensure seamless compliance. #TaxCompliance #Egypt #VAT #DigitalServices #GlobalBusiness #B2B

New Details on Canada’s Reporting Rules for Digital Platforms 🇨🇦 Are you prepared for the changes? In our latest blog, we break down: ➡ What the new rules entail ➡ Which businesses are affected ➡ Key technical details for reporting 📖 Read the full article here: https://lnkd.in/gKNzEHbH #DigitalPlatforms #TaxCompliance #Canada #PlatformReporting