At a glance

• Starting from 1 June 2023, VAT registered taxpayers must only accept electronic tax invoices, leading to increased tax compliance and accountability, as well as faster processing of VAT refunds.
• Non-resident suppliers of digital services are exempt from issuing electronic tax invoices but must provide invoices or receipts for value and tax charged.
• The implementation of the electronic tax invoice system (eTIMS) is expected to reduce the cost of compliance, improve accessibility, and enhance revenue collection, although penalties and challenges may arise, particularly for small businesses.