KGT Global Tax Applications

📣 For the success of our clients, KGT connects 'Taxation, Technology', and Controls' 📣 KGT is in official partnership with SAP for PE Services. As a trusted partner, KGT is uniquely positioned to configure SAP's Document Reporting and Compliance (DRC) solutions. With SAP DRC, businesses can configure, generate, analyze, and electronically submit e-invoices, e-documents, and statutory reports, including those related to indirect taxes like value-added tax. KGT, backed by its team of SAP-certified consultants, is adept at configuring SAP DRC to meet your tax and statutory reporting needs. When your SAP VAT determination logic needs rectification, KGT is committed to providing a thorough end-to-end solution to address and remediate any underlying issues. As an SAP tax consultancy firm, KGT offers best-practice recommendations and implements agreed-upon solutions directly within SAP. ✔️ Therefore, KGT has outstanding expertise in configuring the SAP DRC solution, enabling us to showcase its advantages over competing products effectively. Our successful history of implementing SAP DRC for multinational clients underscores our proficiency as one of the few specialized SAP tax consultancy firms not constrained by audit rules. 🖇️ Contact us to learn more about our SAP add-ons or how KGT implements SAP's Document Reporting and Compliance (DRC), including SAF-T, e-invoicing, and other reporting requirements. You can find us on SAP Finder: https://lnkd.in/djnMTJMb #KGT #SAP #einvoicing #SAPSolutions #DRC #Malaysia #Germany #TaxCompliancy #Poland #Spain #Italy #Global

📣 Less than in 2 months time, KGT has successfully implemented the SAP DRC Malaysia e-invoicing solution for a global mining technology company. With the proven concept, SAP DRC for Germany e-invoicing implementation is kicked off. 🖇️ Contact us to learn more about our SAP add-ons or how KGT implements SAP's Document Reporting and Compliance (DRC), including SAF-T, e-invoicing, and other reporting requirements. 📩https://lnkd.in/d_aPFDeF #KGT #SAP #einvoicing #SAPSolutions #DRC #Malaysia #TaxCompliancy

🚀KGT specializes in e-invoicing requirements, and well-known multinationals work with our SAP solutions and benefit from our SAP & Tax consultancy work to meet these tax reporting obligations. 🔎KGT developed SAP add-ons as an E2E solution but also supports clients with implementing SAP's DRC or providing extraction logic when a web-based provider is selected. Below is an overview of new country rollouts and where KGT can provide support. 🛎When you have questions don't hesitate to get in touch with us: https://lnkd.in/gBfpfxeF #SAP #einvoicing #VAT #taxrisks #taxreporting #TaxCompliancy #KGT

📢 Resident business and budget entities are required to begin issuing e-invoices starting from 1 January 2025, applicable to contracts executed from that date onward. Furthermore, as of 1 January 2026, e-invoicing will be compulsory in the B2B sector for goods and services. Amendments to the Accounting Law were enacted on 12 November 2024, formalizing the country's obligation to use electronic invoicing. The established timelines remain unchanged, as previously communicated: - 1 January 2025: E-invoicing will be obligatory for resident companies in Latvia when dealing with designated state budget entities and for G2G and G2B invoices issued by budget entities. The ninth point in the amendment outlines a transition period that extends until 1 January 2026 for the submission of e-invoices related to B2G contracts that were signed by 31 December 2024. - 1 January 2026: The requirement for B2B e-invoicing and the reporting of invoice data to the State Revenue Service (SRS) will come into effect. Guidelines regarding B2B e-invoices and the reporting of invoice data to the SRS are expected to be published in May 2025. Please feel free to contact us if you want to learn more. 📩https://lnkd.in/d_aPFDeF #SAP #KGT #Latvia #Einvoicing #Tax #TaxCompliancy

📢 B2G e-invoicing has been compulsory in France since 2017, and the French Tax Authority (DGFIP) has now declared its plan to implement nationwide e-invoicing and e-reporting. The anticipated commencement date for this transition is 1 September 2026, with a pilot phase projected to begin in 2025. This digital reform aims to close the VAT gap, which is approximately EUR 13 billion, assist businesses in lowering their invoice and payment processing costs, and improve overall productivity in alignment with Chorus Pro. ▪️ 2025 Directory Pilot Phase February 3: The pilot for the PDP commences with selected beta candidates. April: All PDPs are invited to participate in the pilot to test Directory connections. October 13: Selected businesses will conduct testing with their PDPs to assess connectivity. October to December: Interoperability testing will take place, involving all registered PDPs. ▪️ 2026 Full Directory Access February 9: Comprehensive testing of PFF functionality will be conducted by all PDPs using a sandbox environment, which includes testing for PDP invoice exchanges. Q2: PDPs may announce their full certification to the public. ▪️ September 2026 First Wave Launch The initial phase of the launch will occur, requiring all businesses to be capable of accepting e-invoices. This will apply to B2B e-invoicing and e-reporting for large and medium-sized enterprises (those with more than 250 employees and either exceeding €50 million in turnover or €43 million in balance sheet total). An extension of three months until December 2026 is available. ▪️ September 2027 Second Wave Launch E-invoicing and e-reporting will be introduced for small businesses that do not meet the aforementioned thresholds. An extension of three months until December 2027 is also available. 🔎 Scope of French e-invoicing The following transactions will be included in the new regime: B2B transactions B2C transactions Exports and imports transactions Payment status of VAT invoices Imports of services Exports excluded Information on B2C and intra-community, export and imports will have to be provided by other means to be determined. ⚙️ How to create French e-invoice French invoices can be generated in the following formats: Structured format: UBL invoice / CII D16B / XCBL Hybrid format: Minimum UBL invoice / CPP hybrid / FACTUR-X (PDF-A3) / Minimum CII Currently, the sole method for creating a French e-invoice is through the use of approved outsourced providers, known as PPF, who will file on your behalf. Please feel free to contact us if you want to learn more. 📩https://lnkd.in/d_aPFDeF #KGT #SAP #France #Einvoicing #SAPSolution #Tax #TaxCompliancy

📢 On 29 October, the Ministry of Finance and the Federal Tax Authority of the United Arab Emirates (UAE) announced an update to the VAT Law, which now encompasses provisions related to e-invoicing, including definitions, recovery processes, issuance procedures, and credit notes. Additionally, on 24 October, the Federal Tax Authority revised its guidance concerning the B2B and B2G e-invoicing mandate set for July 2026. This update features a Frequently Asked Questions section, with plans to address B2C invoicing at a later date. The implementation will occur in phases, with businesses required to comply at designated stages based on specific criteria, and sufficient notice will be provided prior to the enforcement of these requirements. The Authority is implementing a "Decentralised CTC and Exchange Model" (DCTCE), utilizing a 5-corner model and involving Accredited Service Providers operating within a Peppol framework. It will implement a 5-corner model, allowing vendors and customers to exchange e-invoices directly without the necessity of obtaining pre-clearance from the Ministry. The initial version will be a 4-model. This approach is expected to be adopted on a Peppol PINT basis, which will involve the utilization of Accredited Service Providers (e-invoicing agents). These ASPs are tasked with validating essential information within the invoice and transmitting it to the customer through their agent. Additionally, the agent is responsible for sending the invoice to the Federal Tax Authority (the 5th corner), with no pre-clearance required from the Authority. 🔎 Phased launch plan for e-invoicing The FTA has developed a comprehensive multi-phase implementation strategy aimed at facilitating a seamless transition for businesses. Below is an outline of the timeline and key milestones: Q4 2024: issuance of draft technical requirements and ASP process; development of Data Directory; Q2 2025: draft legislation Dec 2025: rollout strategy July 2026: phase 1 lunch Further phase waves to be confirmed 🧷 E-Billing System: Towards a Comprehensive Digital Tax Ecosystem  E-invoicing is an integral component of a broader initiative outlined by the Ministry of Finance, which refers to it as an "e-billing system" project aimed at establishing a sophisticated electronic billing framework and implementing it nationwide. This system is designed to automate the processes associated with tax return submissions, thereby streamlining the filing of tax returns, enhancing tax compliance, and minimizing instances of tax evasion. At present, the government of the UAE has granted legal status to e-invoices, provided there is mutual agreement between the parties involved in the transaction. This initiative is in line with the implementation of e-invoicing in Saudi Arabia that took place in December 2021. Please feel free to contact us if you want to learn more. 📩https://lnkd.in/d_aPFDeF #KGT #UAEBusiness #SAP #Tax #TaxCompliancy #Einvoice

📢 The requirement for businesses to issue invoices via KSeF will begin on February 1, 2026, specifically for those with annual sales exceeding PLN 200 million as of 2025. ▪️ All other businesses will be mandated to implement KSeF by April 1, 2026, providing smaller enterprises with additional time to adjust to the new invoicing system. ▪️ Certain aspects of the e-Invoicing transition, including the obligation to include KSeF numbers in split payment transactions and the stipulations for invoices generated by cash registers, will be postponed until July 31, 2026. ▪️ These modifications demonstrate the Ministry of Finance's attentiveness to the concerns raised by Polish businesses, facilitating a more gradual transition period that accommodates varying business sizes and operational frameworks. 🧷 Grace Period Extended Until Late 2026 In order to facilitate a smoother transition, the recent amendment permits all taxpayers to utilize an offline mode for generating e-Invoices until the conclusion of 2026. This provision is especially advantageous for businesses that experience irregular access to digital resources. 🧷 Support for Businesses Lacking Digital Access Throughout a transitional phase that concludes on September 30, 2026, businesses classified as “digitally excluded” (including small enterprises or those located in regions with limited digital infrastructure) will be allowed to issue invoices in their existing format. This measure is designed to ensure that the shift towards digital does not place small or digitally disadvantaged businesses at a disadvantage. 🧷 Enhanced Flexibility for Consumer Invoices Incorporation of Consumer Invoices into KSeF: A notable development is the integration of consumer invoices into the KSeF framework. This enhancement allows businesses to handle a broader spectrum of invoice types within a unified system, thereby optimizing operations and facilitating easier record management. ⚙️ Preparation for Comprehensive KSeF Functionality Technical Improvements Prior to Full Implementation: The draft underscores the necessity of achieving complete technical capabilities of KSeF before the compulsory e-Invoicing deadline. This strategy guarantees that businesses will have access to a fully functional system prior to the enforcement of compliance, promoting a smoother transition and enhanced support from the National Revenue Administration (KAS). Please feel free to contact us if you want to learn more. 📩https://lnkd.in/d_aPFDeF #Poland #Einvoicing #KSeF #SAP #KGT #Tax #TaxCompliancy #SAPSolutions

As KGT, we wish you a great, happy and healthy New Year! Welcome 2025 🎉 #kgt #newyear

📢 Ireland is poised to overhaul its invoicing and VAT reporting practices as part of a nationwide initiative aimed at modernizing its VAT declaration framework and improving operational efficiency. The government has launched a public consultation to investigate how digital innovations can facilitate these processes. Following the assessment of the proposals and the feedback received, a detailed report will be published to inform the government's subsequent actions. The suggested modifications encompass the mandatory implementation of electronic invoicing and reporting for intra-community transactions, alongside the standardization of digital reporting protocols. Additionally, Ireland is considering the adoption of Continuous Transaction Controls (CTC) models. At present, electronic invoicing is not compulsory in Ireland. The issuance of invoices or other documents electronically is contingent upon mutual agreement between the involved parties. Moreover, any electronic invoicing system utilized by a VAT-registered business in Ireland must adhere to the following stipulations: It must generate, store, and archive electronic records and messages in the prescribed format, containing the requisite data to comply with Irish VAT regulations, ensuring accessibility to the Irish Revenue upon request. It should be capable of reproducing any necessary record or message in either paper or electronic format as required. It must maintain electronic records in a systematic manner that allows for retrieval using key identifiers such as the issuer or recipient’s name, the date of the message, or the unique identification number of the message. It must ensure the integrity of the content, verify the authenticity of the document's origin, and establish a dependable audit trail for the transaction and its associated documents. 🧷 Please feel free to contact us if you want to learn more. 📩https://lnkd.in/d_aPFDeF #KGT #SAPSolution #SAP #Ireland #Einvoicing #Tax #TaxCompliancy

📢 Anticipated regulatory modifications in Germany In light of recent legislative updates in Germany, the duration for retaining invoices will be shortened to eight years starting in 2025. According to the forthcoming regulations, small enterprises will not be required to issue EN-compliant electronic invoices; however, they must possess the capability to receive them. 🔎 Several significant changes, among others, are outlined below. Retention Periods: Effective from 1 January 2025, the mandatory archiving retention period for invoices will be reduced from ten years to eight years. However, the retention duration for other documents, including commercial books, inventories, and annual financial statements, will continue to be ten years. This new regulation pertains to invoices for which the retention period has not lapsed by 31 December 2024, as stipulated in the amendments to the Fourth Bureaucracy Reduction Act. 📌 Updates for Small Enterprises: Entities operating under the Small Business Scheme (Kleinunternehmerregelung) are exempt from VAT. The new eligibility threshold for VAT-exempt small businesses has been raised from a total annual turnover of no more than 22,000 EUR to 25,000 EUR for the preceding fiscal year, and from 50,000 EUR to 100,000 EUR for the current fiscal year. These modifications are a result of the enactment of the Annual Tax Act and alignment with EU regulations. Small businesses that fall below the threshold will also be exempt from the obligation to issue EN-compliant e-invoices. They may continue to issue alternative invoices, such as PDFs via email or even paper invoices. It is important to emphasize that these businesses are still required to accept EN-compliant e-invoices. Please feel free to contact us if you want to learn more. 📩https://lnkd.in/d_aPFDeF #KGT #SAP #Germany #Einvoice #BMF #Tax #TaxCompliancy #DigitalTrends