February 25, 2020
All businesses and sole proprietorships are under the obligation to implement electronic accounting books, as well as optionally adopt e-invoicing tools and online recording of all transactions, effective as of April 2020.
This entails that all transaction data will automatically be transferred through the ‘my Data’ platform to the online tax portal (TAXIS) where they will be cross-checked and verified.
The issue of invoices must adhere to a specific template that allows electronic processing.
The digital invoicing tool records the following:
- Table outlining income
- Table outlining expenses
- Table aggregating income and expenses per day, per month, per quarter and the total for each annual period.
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