Lovat Newsletter – February 2025
Lovat Newsletter – February 2025
E-invoicing News
- UK Government Launches 12-Week E-Invoicing Consultation: The UK started a 12-week consultation on e-invoicing. It aims to reduce paperwork and boost productivity. E-invoicing allows direct digital exchange of invoice data. This minimizes errors and improves VAT return accuracy.The consultation is titled “Promoting electronic invoicing.” Comments are open until 7 May 2025.
Key deadlines
- Italy: 28 February 2025 – Last day to submit electronic invoices for January 2025 in accordance with the FatturaPA standard
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EPR reporting News
- New rules for batteries come into force in the EU: On 18 February 2025, new requirements for electric vehicle batteries will come into force. Manufacturers must comply with EU environmental standards. The rules include waste reduction and mandatory recycling.
- EU introduces new rules for packaging and waste: New packaging rules have come into force in the EU. Manufacturers must reduce the amount of packaging and increase recycling. The rules apply to all online retailers in Europe. They aim to reduce waste and improve environmental standards. Businesses must be fully compliant by August 2026.
- France introduces new packaging obligations: All packaging manufacturers must register with the EPR system. This includes paper products such as booklets and manuals. The aim of the new rules is to reduce packaging and improve recycling. This will reduce the environmental impact and contribute to sustainable development. These rules will affect companies that actively use paper products in deliveries in France.
Key deadlines
- France: 28 February 2025 – Deadline for reporting on packaging, textiles and tyres.
- Spain: 28 February 2025 – Last day for packaging reporting.
- Austria: 15 March 2025 – Deadline for submitting packaging reports.
Tax Compliance News
- Introduction of new tax rules in Indonesia: From 1 January 2025, new tax rules will come into effect. They relate to the global minimum tax (GMT). A minimum rate of 15% applies to large companies. The rules apply to businesses with a turnover of more than €750 million. In addition, the regulations establish procedures for tax adjustments, objections, cancellations and reductions.
Key deadlines
- Germany: 10 February – Last day to submit monthly VAT return and sales list for January
- France: 10 February – Deadline for sales list submission
- Sweden: 12 February – Last day to submit quarterly reports
- Poland: 15 February 2025 – Start of the period for filing the annual PIT tax return for 2024
- Italy: 16 February – Deadline for quarterly reports submission
- France: 19 February – Last day to file monthly tax return for January
- Croatia, Slovenia, Lithuania, Estonia, Latvia: 20 February – Monthly VAT return deadline
- India: 20 February – Monthly GST return deadline
- Czech Republic/Poland/Romania: 25 February – Last day to submit monthly VAT return
- Slovakia: 25 February – Monthly VAT submission deadline
- Latvia/Italy: 28 February – IOSS return deadline
- Switzerland: 28 February – Deadline for semi-annual report submission
- France: 31 February – Deadline for submission of the IOSS report for February
Key US Sales Tax Deadlines
- Louisiana, South Carolina: 20 February – Deadline for monthly tax filings
- Georgia, Virginia, Washington, Minnesota: 20 February – Monthly sales tax return deadline
- USA: End of February – Deadline to file and pay Annual Report & Franchise Tax
New Blog Posts
- E-Invoicing vs E-Billing: Learn the differences between systems for creating and sending invoices and simplifying the payment process.
- What Is E-Invoicing and Why Does Your Business Need It: Learn how e-invoicing automates processes, improves accuracy and reduces errors.
- Northern Ireland – Labelling Requirements: Learn more about how companies must comply with the specific labelling rules in Northern Ireland.
- EPR for EEE:A Complete Guide to Compliance and Recycling: Discover how EPR is applied to electronic equipment to meet recycling regulations.
- Digital Services Tax (DST) and its global implementation: Impact of the introduction of digital services taxes on international business.
- W-8BEN vs W-9: Key Tax Forms Explained for Cross-Border Business: Understand the differences between the forms for correct tax reporting in international business.
Product Update
This month we have several important updates that we are happy to share with you. We are constantly working to improve our product and make your work even more convenient.
- New feature for Amazon InBound transactions
We have added the ability to automatically track a new type of transaction – Amazon InBound. This allows you to easily control all receipts to your Amazon warehouse, simplifying inventory management and integration with the platform.
- Adding negative transactions to the VAT report generation function
We have updated the VAT report generation section for intra-European transactions. Now you can add negative transactions, which will allow you to conveniently take into account adjustments and refunds in VAT reports.
We are here to support your compliance journey. If you have questions or need assistance, feel free to reach out to our dedicated team. Contact us
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