Rafa, Author at SDC

June 19, 2024

Celebrating 70 years of VAT

This year marks the 70th anniversary of the VAT – the tax which represents the highest percentage in tax revenues for governments around the world. For some countries, it can be as high as 37% to 40% of the countries’ total yearly collection earnings.

However, this tax would never have existed if, on April 10^th 1954, a man in France named Maurice Lauré did not have the vision to create a tax that would not tax the turnover but the added value produced by companies. This vision has clearly been a huge success, so much so that the VAT has even been widely referred to as the “fiscal Grail”.

May 24, 2024

Morocco fiscalization: Electronic invoicing is slowly finding its way in

Morocco, a country with a population of next to 40 million inhabitants, is slowly but steadily adopting decisive fiscalization practices, expecting to fully embrace them by 2026.

Will they be able to overcome all obstacles and delays they have had since its conception?

March 20, 2024

Greece extends the use of POS terminals to all economic activities

Greece, a country in the southernmost part of Europe and counting with a population of just above 10 million inhabitants has now decided to extend the use of POS terminals to all economic activities.

Greece is one of the countries with the oldest fiscalization in the world. After several decades of existence, it was determined that the system was largely neglected and outdated. Many taxpayers have significantly reduced the issuance of fiscal invoices, and some have completely stopped doing so.

November 30, 2023

Verifactu expected to go “live” by July 2024

The Spanish tax agency Agencia Tributaria has announced a tentative future release date for their electronic invoicing system, Verifactu. All in all, the plan is to release the system in the summer of 2024.

The implementation of the project depends on the approval of the regulations for the invoicing system by the Spanish law authorities. The system is ready to launch.

The estimated release date is expected somewhere during July 2024. The IT department of Agencia Tributaria has published a technical draft of its working methodology.