E-invoicing has been around for 25 years. Yet, too many mid-sized and enterprise companies are still processing unacceptably high volumes of paper invoices. While there are many examples of companies hitting 90% electronic, generally e-invoicing adoption has been sluggish.
But not for long. Country mandates are nearly ubiquitous – and they are constantly changing. By 2030, most counties are expected to have adopted some form of real-time reporting requirements. Non-adoption is not an option. The sluggish will turn supersonic as every manual AP operation frantically and/or expeditiously prepares itself for a sprint to the finish/start line (ViDA in 2030).
We have an Update for you. This guide:
- Explains the different approaches countries are taking
- Explores the EU initiative ViDA
- Unpacks key changes that are coming up in 5 specific countries
- Demonstrates how technology assists
Download this time-critical guide – Important e-Invoicing Compliance Update: 5 Countries – to help ready you for mobilization.
Just some of the updates we explore in this report include are the 5 countries and updates including:
Romania: As of July 1, 2024, issuing invoices electronically (e-facturi) is mandatory for all B2B transactions in Romania, as the country moves from a post-audit tax model to a CTC clearance model.
France: There will be a list of preferred partners (PDPs) that businesses can use - certification to become a PDP began in April 2024.
Poland: Originally planned for July 2024, the new Krajowy System e-Faktur (KSeF), will now be implemented in a staged rollout starting in February 2026.
Germany: All e-invoices will need to be in a standard format - XRechnung EN16931.
Malaysia: Mandatory e-invoicing began August 1, 2024, affecting businesses with an annual turnover of over RM100 million ($21 million USD).