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Increasingly, the tax authorities are requiring more data, as well as more frequent and faster submission of that data. These efforts by the tax authorities have resulted in various ways of implementing real-time and near real-time reporting.

Since 2019, Italian taxpayers have been required to transmit their draft invoices via the Sistema di Interscambio (“SDI”), a platform run by the Italian tax authorities. Each invoice draft is validated, and the invoice is then transmitted to the recipient once it is approved by the SDI. In other words, it is not possible to issue a valid invoice and send it to a customer without prior approval from the tax authorities. In addition, all transactions are reported to the authorities in real-time.

Since 2017, the Spanish authorities have required taxpayers to report the data regarding their invoices within four calendar days from the issuance date or the posting date for incoming invoices. This constitutes near real-time reporting.

A similar obligation has been in place in Hungary since 2018. However, the Hungarian requirement is even more demanding, as companies must report their sales invoice data immediately once the invoice is issued.

Similar developments have been observed throughout Latin America and Eastern Europe.

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