Tax and Audit Readiness Archives

21/08/2024 | 8 min read

SAP DRC: The components that make the solution stand apart

Author: Priyasha Purkayastha, Sr. Content Writer, TJC Group | Co-author: Patchanok K, B2G Team Lead, TJC Group The last 10 to 15 years have been significantly revolutionary for tax compliance and reporting landscapes. Today, with the implementation of e-invoicing and e-reporting with SAP DRC, things become smoother and easier. But…

06/08/2024 | 7 min read

7 ways e-invoicing and e-reporting add real business value

Author: Priyasha Purkayastha, Sr. Content Writer, TJC Group | Co-author: Patchanok K, B2G Team Lead, TJC Group E-invoicing and e-reporting are hot topics right now as it has become mandatory for B2B, B2C, and B2G transactions worldwide. But have you given a thought to why they have become so popular…

Update: Malaysia releases a new e-invoicing software and updated guidelines

30/07/2024 | 2 min read

Malaysia: The Inland Revenue Board provides a 6-month relaxation period for taxpayers!

Tuesday, 30th July 2024 In a welcoming move, the Inland Revenue Board of Malaysia (IRBM) recognised that taxpayers require sufficient time to comply with the legal requisites of e-invoices, especially when it comes to challenging and complex business environments. The board released a press announcement, which put forth a relaxation…

Header - Update The Bookkeeping act SAF-T Denmark

24/05/2024 | 7 min read

Unlocking the requirements of the new Bookkeeping Act, Denmark

A few months back, our tax compliance experts reported that the Danish Bookkeeping Act is all set to come into force in 2024, which aims at strengthening tax compliance, enhancing financial reporting transparency to fight against tax frauds, and so on in Denmark. Cut to April 2024, the Bookkeeping Act…

06/05/2024 | 2 min read

New version of SAF-T Financial in Norway

The Norwegian Tax Administration, Skatteetaten, has recently published a new version 1.30 of SAF-T Financial. This article analyses what’s new on the new version.

Header update Poland e-invoicing new date - TJC Group

03/05/2024 | 2 min read

New date for Poland mandatory B2B e-invoicing

The Finance Minister of Poland has recently announced that mandatory B2B e-invoicing is being delayed to February 2026 The National e-Invoicing System (KSeF) will adopt a phased approach and be mandatory as follows: From 1st February 2026, for businesses whose sales surpass PLN 200 million From 1st April 2026, extended to…

Continuous Transactions Model for e-invoicing

28/03/2024 | 6 min read

Exploring different models for Continuous Transactions Control

With e-invoicing and e-reporting gaining momentum across the world, knowing even the slightest of its aspects is paramount. Quite an important aspect here would be to Continuous Transactions Control (CTC). Fact of the matter, many governments are turning towards CTC to strengthen their economies. But do you know why? Fret…

27/03/2024 | 2 min read

E-invoicing in Germany: B2B mandate timeline for implementation

27th March 2024 Germany recently joined the bandwagon of implementing B2B e-invoicing in the country. The recent developments in the country’s legislative landscape have given rise to the topic of B2B e-invoicing in Germany at the forefront. Germany’s upper and lower Parliament houses, Bundesrat and Bundestag, respectively, have been engaged…

14/03/2024 | 2 min read

Update: E-invoicing in Israel has been delayed by a month!

14th March 2024 The tax authority of Israel announced the granting of an additional extension to the operation of e-invoicing in Israel mandate. On 26th February 2024, the Israeli authorities granted the extension till 05th May 2024, wherein businesses receiving tax invoices in an amount exceeding NIS 25,000 can deduct…

11/03/2024 | 14 min read

SAP DRC: Everything you need to know | Consulting and Implementation Services | TJC Group

The digital transformation of invoicing and statutory reporting has resulted in it being a survival kit for organisations that want efficiency, precision, and seamless compliance with their tax and regulatory requirements. If we talk statistically, the e-invoicing market reached around USD 14 billion in 2023, expected to grow at a…

06/03/2024 | 2 min read

Quick update: E-invoicing in Malaysia, release of PINT BIS specifications

06 March 2024 On 26th February 2024, the Malaysian government per PEPPOL, announced the billing specifications that are compliant with the PINT methodology. Consequently, this incorporates invoices and credit notes, along with self-billing invoices and credit note transactions for e-invoicing in Malaysia. What are the latest specifications? On the same…

29/02/2024 | 2 min read

Update: SAF-T Bulgaria implementation on the papers; National Revenue Agency progresses!

29 February 2024 Bulgaria is all set to join the list of countries implementing SAF-T, which is the OECD-backed standard schema for taxpayers and authorities to exchange information. As a matter of fact, the first version of SAF-T Bulgaria XSD schema is available for the required users on the Bulgarian…

e-invoicing channels that you must know of

28/02/2024 | 5 min read

E-invoicing & e-reporting: 4 channels you must know of!

Table of contentsInside the e-invoicing and reporting journeyWhat is an invoice channel?The different e-invoicing channels for youInteroperable e-invoicing networksInteroperabilitySecurityStandardsIntegration of accounting or ERP softwareDirect submission through government portalsCertified service providersAmalgaming the benefits of e-invoicing and e-reportingImplement e-invoicing with TJC Group Inside the e-invoicing and reporting journey E-invoicing and e-reporting are…

28/02/2024 | 1 min read

Update: France’s new guidance on the timeline preceding the CTC mandate!

28 February 2024 The Direction Générale des Finances Publiques (DGFiP), on 16th February 2024, hosted a community relay meeting with its stakeholders of the upcoming CTC mandate. During the meeting, the DGFiP announced additional details on the timeline leading up to the obligation. To set the premises for e-invoicing in…

26/02/2024 | 2 min read

Update: New Zealand government to impose stronger requirements for e-invoicing!

26 February 2024 Last week, Hon Andrew Bayly, the Minister for Small Business and Manufacturing, New Zealand, announced the government’s intent to revoke the Business Payments Practices Act 2023. Instead, they plan on pursuing non-regulatory measures for improving payment times to small businesses. The primary objective, however, is to ramp…

22/02/2024 | 2 min read

Update: The Belgian Parliament approved the legislation setting out a B2B e-invoicing mandate

22 February 2024 The Belgian parliament announced that the bill legislating for mandatory B2B e-invoicing in Belgium has been gazetted. This means that the mandate is ready to be applicable and adopted from 1st January 2026. Although derogation from the European Commission (EU Directive articles 218 and 232) is still…

E-invoicing formats in different countries

22/02/2024 | 6 min read

Choosing the right e-invoicing format for your business

Table of contents1. Introduction2. Different formats of e-invoicing that you must know of-> Standard formats2.1 Electronic Data Interchange (EDI)2.2 Universal Business Language (UBL)2.3 PEPPOL2.4 UN/CEFACT Cross-Industry Invoice (CII)2.5 UBL PEPPOL BIS Billing 3.02.6 JSON3. Country-specific formats3.1 FatturaPA, Italy3.2 ZUGFeRD, Germany3.3 FacturaE, Spain3.3.1 FACe3.4 Factur-X, France3.5 XML with country-specific extensions4. E-invoicing…

21/02/2024 | less than 1 min read

Update: Malaysia releases a new e-invoicing software and updated guidelines

The Malaysian tax authorities, Inland Revenue Board (IRB), released a beta version of the e-Invoicing Software Development Kit (SDK) along with an update of the guidelines. The e-Invoice Software Development Kit (SDK) is a set of tools, libraries, and resources that provide APIs and development guidelines to support companies with…

31/01/2024 | 6 min read

Global tax compliance and ESG: latest trends for 2024

Table of contents1. Introduction2. Changes to tax policy structures3. Introduction of AI to tax administration4. Increased emphasis on carbon taxation5. How does the CBAM (Carbon Border Adjustment Mechanism) work?6. What are the latest ESG reporting requirements?7. Keeping up the global industry tax trends 1. Introduction Nothing exists in isolation and…

24/01/2024 | 5 min read

Solving e-invoicing and e-reporting challenges with SAP DRC expertise

Table of contents1. Introduction2. What are the challenges of implementing e-invoicing & e-reporting?2.1 Different regulations in different countries2.2 Data integrity is a challenge2.3 Integrating ERP systems can be complicated2.4 System security challenges2.5 Reconciling e-invoice data and VAT returns2.6 Cashflow impact3. How do organisations overcome these challenges?3.1 Features of SAP DRC…

19/12/2023 | less than 1 min read

New technical specifications for the e-invoicing introduction in Italy

Author: Patchanok Kluabkaew, SAP Finance Lead. The Italian Ministry of Finance published last week the updated version 1.8 of the technical specifications for the e-invoicing introduction which will be valid from 1 February 2024. The main changes introduced are as follows: New coding introduced for the ”AltriDatiGestionali” block for agricultural…

19/12/2023 | less than 1 min read

E-Invoicing in France: the timeline undergoes an intriguing twist

Author: Patchanok Kluabkaew, SAP Finance Lead. On December 13th, the French National Assembly reinstated September 1, 2026, as the designated initial date for e-invoicing and e-reporting, effectuated through an approved amendment to the 2024 Budget. The Senate, which is the upper house of Parliament, had previously approved a modification earlier…

14/12/2023 | 2 min read

SAF-T Poland accounting file (JPK_KR) to become mandatory for Corporate Income Tax (CIT) settlements

Author: Patchanok Kluabkaew, SAP Finance Lead Important Update for Businesses in Poland! A draft regulation by the Minister of Finance is set to elevate the SAF-T Poland accounting file (JPK_KR) from optional to mandatory for Corporate Income Tax (CIT) settlements. This regulatory change under the Corporate Income Tax Act aims…

23/11/2023 | 2 min read

‘‘Name and Shame’’, sounds familiar to you? | Tax compliance

You surely heard about “Name and Shame”, don’t you? We are talking about a practice coming from Anglo-Saxon countries that French public administrations are integrating more and more.

10/11/2023 | less than 1 min read

Media Coverage | ITRNews covers TJC Group’s latest tax compliance announcement at USF Convention 2023!

Today, many governments around the world are tightening their e-tax regulations to step up tax controls, combat fraud and increase tax revenues, facilitate, and automate value-added tax reporting obligations, reducing the administrative burden on businesses. As far as the tax authorities are concerned, better real-time knowledge of companies' economic activity…

06/11/2023 | 22 min read

The complete guide to e-invoicing & e-reporting with SAP DRC

Table of contentsIntroductionWhat is e-invoicing?What is e-reporting?Merging the pros of e-invoicing and e-reportingDrivers of e-invoicing in EuropeHow is e-invoicing deployed across the world?The different formats for e-invoicing and e-reportingWhat are the different channels for e-invoicing?What are the different models for Continuous Transactions Control (CTC)?Key benefits of e-invoicing and e-reporting1. Increased…

20/10/2023 | 2 min read

New timeline for B2B e-invoicing in France

Author: Mélissa Oktay, SAP Finance Business Analyst. The Finance bill for 2024 has been revised by the French authorities (Assemblée Nationale) and a new amendment has been proposed: Amendement n° I-5395 . Accordingly, here is the new timeline proposed for e-invoicing mandate: 1 September 2026: obligation for large enterprises (LE)…

29/08/2023 | 5 min read

How ‘low-code, no-code’ software development improves Tax and audit compliance

Author: Laura Parrí Royo, Marketing DirectorWith years of expertise, Laura heads the Marketing team at TJC Group. Her expertise in SAP Data Archiving, Legacy Decommissioning, and so on, coupled with marketing tactics has helped strategize our brand value beyond excellence. Table of contentsWhat exactly is ‘Low-code, no-code’?Is ‘Low-code, no-code’ a…

28/06/2023 | 3 min read

Partnership | TJC Group signs agreement to resell and implement SAP® Document and Reporting Compliance solution

TJC Group has chosen the SAP offering because it is a global solution, integrated with local content and coverage of end-to-end tax compliance processes, and is the most efficient way to manage e-invoicing, real-time reporting, and statutory reporting worldwide. Marseille, 28 of June 2023: TJC Group is proud to announce…

13/06/2023 | 9 min read

An in-depth understanding of the global SAP tax compliance landscape!

With COVID-19 hitting the world, there has been a significant shift in the tax compliance landscape. While the short-term impact of the pandemic will gradually fade, moving towards e-invoicing and implementing digital tax reforms is what governments must do. Here’s an article that will help you understand the tax compliance…

12/04/2023 | 6 min read

What is VAT in the Digital Age (ViDA)?

Value-added tax (VAT) is a major source of revenue for EU member states, estimated at around 20% of total government revenue. As a result, VAT is also an indirect source of funds for the EU budget. In December 2022, the EU Commission proposed reforms for the bloc’s VAT system called…

28/10/2022 | 3 min read

SAP DART release number : How to find it on an SAP system

SAP DART is an evolving product with new fields and functionality being added to each new version. New fields are added at the request of DSAG or ASUG work groups in response to real tax audits – do you really want to start a DART project knowing that your older version is missing fields you may need in a future audit?

06/10/2022 | 4 min read

Get SAF-T ready – 6 tips to prep your tax and audit teams

The way businesses operate and interact with regulatory bodies and government is changing at a very rapid pace. One area that’s changing especially rapidly is tax and financial compliance – particularly when it comes to reporting processes. This article outlines the 6 key stages involved with SAF-T readiness, shared by…

16/06/2021 | 5 min read

Taking a polymath approach to Business 2 Government compliance

Is your team ready to tackle tax compliance in a Volatile, Uncertain, Complex and Ambiguous environment? This article outlines Taking a polymath approach to Business 2 Government compliance. “T-shaped’ skills are essential to tackle tax compliance projects today.

GDPR, General data protection regulation compliance.

01/03/2021 | 5 min read

GDPR fines bite as data management processes still fall short

Although GDPR came into operation two and a half years ago, companies are still not yet properly compliant, especially in circumstances whereby data is not held in the correct status to be deleted using standard tools. Learn how implementing Information Lifecycle Management (ILM) strategies can help with GDPR compliance within SAP.

03/12/2020 | less than 1 min read

Acquisitions: France reverses its case law on the transfer of liability from the acquired company to the acquiring company

The highest body of the judicial order in France, the “Cour de cassation”, has ruled that the acquiring company can be prosecuted and convicted for acts committed by the acquired company before the completion of the merger or acquisition operation. From now on, the acquisition of a company could bear legal responsibilities for the acquired company. The acquiring company will be able to inherit all existing defense mechanisms of the absorbed company. And what can be more powerful than information?

14/09/2020 | 6 min read

How to generate the Fichier des Écritures Comptables (FEC) in a few words?

The Fichier des Écritures Comptables (FEC) is the FEC file to the French Tax Administration in the event of a tax audit. SAP provides the solution to generate a FEC file in the DART tool and recommends using DART version 2.7.If you are not familiar with DART or you do not have the resources to implement all prerequisites properly, the FEC 4.0 by TJC is an SAP Certified software that helps SAP customers overcome Audit and Tax challenges, not only for the FEC in France but also to meet other OECD countries’ requirements through a SAF-T (Standard Audit File for Tax) package.

Doubts About Data Managemennt? | TJC Group

21/05/2020 | 2 min read

Bridge the gap with the ¼ Hour Meetup with TJC Experts

Doubts about Data Management or the move to S/4HANA? Bridge the gap with TJC experts in a 15min remote Q&A discussion.

20/02/2020 | 2 min read

Export Destination: business expansion to the Middle East

The podcast series Planète Innov, tackles the distinctive features of business expansion to the Middle East, which is synonymous with abundant financial resources and large-scale projects. In this extract, Olivier Simonet, VP Sales and Marketing at TJC Group, shares his personal view about the motivations to look towards countries like Saudi…

Does DaRT provide a reliable audit trail?

11/12/2015 | 2 min read

Does the DART provide a reliable audit trail?

The SAP DaRT technology is a mature product with its supporters and its critics.

01/02/2014 | 2 min read

FEC SAP accounting entry file

Testimonial of Mr. Hervé GAY, IT Manager at IDI Composites International Europe S.A.S on the implementation and use of the FEC Software by TJC.Here is a set of resources available to support you around our business expertise. 1. Why did you choose TJC’s FEC File of Accounting Entries? TJC was…

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