Insights: Make way for E-Invoicing!

While there are already discussions in the field of artificial intelligence about how, when, whether and at what cost human jobs will be replaced, solutions are still being sought in the field of electronic invoicing or e- invoicing that will actually deliver the benefits which are undoubtedly expected by all market players. 

Cost savings are not nec​essarily the main focus. Printing, sending, scanning, approving - such processes will no longer be required in future, will change noticeably or certain process steps and media disruptions will be superfluous. This way it will be possible to consistently link upstream and downstream processes, such as a reference to an order or a booking, without the intervention of an accountant. The result is time and cost savings and ultimately increased process reliability and, if necessary, liquidity. 

Another advantage is, of course, the control of payment flows and the prevention of VAT fraud through data that can, in the best case, be reconciled across national borders. 

Legislators are now looking for ways to make electronic invoicing increasingly mandatory. Pioneers in e-invoicing include southern European countries such as Italy, Spain, Croatia, but also Hungary and, of course, Scandinavian countries, which are once again leading the way in terms of digitalisation. For electronic invoicing at EU level, there are currently different systems for electronic transmission and invoicing in the member states of the European Union. According to the European Commission's current plan, all EU member states are to introduce a reporting system for cross-border deliveries and services within the EU by 2028 (or gradually after the latest ECOFIN Council meeting in January 2024). This is now expected to happen by 2030/2032. An enormous challenge here is the different technical implementation in the countries. A uniformly readable format is of little use if data exchange, identification and verification are implemented in completely different ways. 

It is therefore extremely important not only to keep an eye on national VAT and IT requirements, but also to ensure coordinated international monitoring. Our interdisciplinary experts are available worldwide to support you with all questions relating to e-invoicing. The following articles will give you an insight into the current regulations in Germany, Spain​, Poland, France​, Italy​, Romania​, Turkey, Finland, Estonia​, Malaysia​, Lithuania, China and Kazakhstan.​​​