VATupdate

The Potential of eInvoicing in B2B Transactions

The importance of digitalization has been demonstrated especially at this time of the COVID-19 disease pandemic. State and local institutions, as well as entrepreneurs, were in fact able to maintain their legal obligations and rights only through digital applications. In addition, digital purchases and payments have stimulated the further development of digitalization. Countries around the world are advancing the development of digitalization by providing digital services, including tax administrations. The level of digitalization varies from country to country, but the ultimate reach of full digitalization can now be discerned. In the age of digital evolution, new technologies as well as new ways of working contribute to accelerate digitalization, and it becomes clear that there is a need to take full advantage of the new age and the new economy which are unfolding.

Source: Ksenija Cipek (Ministry of Finance, Tax Administration – Republic of Croatia) on Kluwer

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