TrustWeaver’s top 10 Knowledge articles of 2017
If you’ve been following TrustWeaver’s legal and technical updates throughout 2017, you’ll know that as an organization, we’ve been on a mission to increasingly share a larger and more frequent body of expertise and knowledge on all things e-archiving and e-invoicing compliance. We are proud of our legal and technical knowledge sharing and hope that you have found our articles compelling, relevant and most importantly, helpful.
As a way to round-off 2017, we look back at our most popular articles. From country-specific updates, clearance overviews, compliance and real-time tax controls, we’ve covered a large base of topics and think this is reflective of what has proven to be popular with our readers this year.
Take a look at the year’s top 10-viewed knowledge articles below:
Back in June, TrustWeaver Legal Counsel Filippa Jörnstedt wrote about the negotiations between Italy and the EU on whether there really is a chance that B2B e-invoicing will become mandatory in this EU Member State. The article raised a number of questions on whether Brussels would even agree and whether implementing mandatory B2B e-invoicing is a good idea in the first place. This article sparked some lively discussion and debate in our LinkedIn group, with many agreeing mandatory B2B e-invoicing would be beneficial for both businesses and governments. Read more.
This leads us nicely into our 2nd most popular Knowledge article: yes that’s right, we’re again on the subject of Italy and the EU. In a further update in November, Filippa went into more detail about the significant obstacles faced by Italy before this initiative can even become a reality. The November update took a look at these obstacles in more detail; how Italy is addressing these issues and Brussels’ reaction to them. Read more.
Legal Counsel Yinghan Miao wrote on China in September, with a specific focus on what has happened in the country since the Business Tax-VAT reform of 2016. Since the tax reform, 2017 has seen China make an increased effort to focus on the electronic normal VAT invoice (not eligible for input VAT claim) to be adopted by more consumer-facing sectors. Nevertheless, compared to the development of normal VAT invoices, we have seen very little progress from a policy perspective when it comes to the digitalization of special VAT invoices (eligible for input VAT claim). Read more.
E-invoicing clearance systems are increasingly being accepted and implemented worldwide. TrustWeaver’s Director of Professional Services, Sebastian Elfors, discusses within the European context how the trend towards automation in the compliance process is for now focused on reporting broader audit data rather than real-time transaction clearance. However, TrustWeaver anticipates that this model will over time evolve into the clearance system direction. Naturally, these government-driven initiatives are leveraging advances in technology and associated processes that are also revolutionizing the world of business. Read more.
A guest contribution from Alexander Melikjanyan, Chairman of the Board of Directors for Taxcom LLC and Marina Krasheninnikova, a Tax and e-invoicing expert, which looked at what’s inside the legal and technical framework behind Russia’s successful IoT real-time tax control. Read more.
In an earlier post, we reported on Hungary’s decision to postpone the implementation of changes in VAT reporting until July 2018. As a follow up to this, our knowledge article on the potential for real-time invoice data reporting gives further details on what exactly is being introduced and how enterprises can prepare. Read more.
Everyone’s talking about artificial intelligence (AI) these days. It’s even applicable to the world of invoicing. In this article, TrustWeaver President Christiaan van der Valk discusses how AI-based tax determination will inevitably be used for tax determination by some larger enterprises in the not-too-distant future – and what that may mean for closing data gaps that many companies struggle with today. Read more.
Combating the VAT gap is a hot topic, especially given the recent communication from the EC about the change in the logic to be applied as to the ‘place of supply’. Alicja Kwiatkowski’s article explores various measures such as the reverse domestic charge, real-time or near-time invoice controls and split payment and how they are being applied in particular member states. Read more.
The market for travel and expense software, estimated to be worth more than 3 billion USB by 2020, can alleviate the pains of messy expense reports. Christiaan van der Valk discusses the impact of tax administrations rapidly implementing real-time controls for B2B and B2C transactions, whereby the future will see T&E vendors having to get used to stricter ways of validating the tax compliance of receipts on behalf of their customers. Read more.
We only posted this article in early December, but it has already proven popular among our readers. In reality, is no real surprise: the entry into force of GDPR is less than 6 months away and will have a significant impact on how businesses store personal data. This is a great read if you want to learn more about how GDPR will impact your global e-invoice archive and any other archive of business-critical e-documents. Read more.
Charlotte Kerridge, Web & Community Manager, TrustWeaver