E-Invoicing Directive

aka elninvoicing Directive, and its impementation report published

What is eInvoicing?

eInvoicing is the electronic exchange of an invoice document between a supplier and a buyer. An eInvoice is an invoice that has been issued, transmitted and received in a structured data format which allows for its automatic and electronic processing, as defined in EU Directive 2014/55/EU.

The European Commission has published the adoption of a comprehensive report detailing the impact of the eInvoicing Directive in simplifying cross-border invoicing procedures, fostering efficiency, and reducing costs in the EU and beyond. The report on the impact of the Directive is accompanied by an Evaluation Report along with an Executive Summary of the Evaluation.

The report offers valuable insights into the effectiveness of the Directive in promoting digitalisation and streamlining invoicing processes across all EU Member States. This report sheds light on the Directive’s positive implications for businesses, public procurement, and cross-border transactions within the EU.

The Directive lays the foundation for a more interconnected, interoperable, and efficient European eInvoicing landscape, taking a further step towards a fully integrated and digitalised Single Market. One of the key findings of the report is that the Directive has facilitated smoother cross-border transactions and prevented fragmentation within the Internal Market in public procurement. Additionally, the Directive’s impact extends beyond the public sector, encouraging the adoption of eInvoicing in Business-to-Business (B2B) transactions.

The impact of recent policies encompassing the use of the EU eInvoicing standard and model, including the ‘VAT in the Digital Age’ (ViDA) legislative proposal, will ensure an even more integrated and harmonised eInvoicing landscape. The publication of the report signifies a milestone in the EU’s efforts to promote and streamline electronic invoicing.

What does it mean for your business? Find it out by contacting us.

Author

nyari.viktor

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