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E-invoicing in the Group on the Future of VAT

At the beginning of May the Group on the Future of VAT (GFV) gathered to discuss e-invoicing in respect to the VAT in the Digital Age project.[1] In a recent blog post we have already shown how complex this topic is. This also becomes apparent from the minutes of the GFVs meeting, which show the many questions raised by the European Commission (EC) to the delegates. In the following we hope to add to the ongoing discussion by providing our view on the questions raised and the answers provided by the delegates. Our main conclusions are:

Centralised clearance does not offer additional benefits in terms of tackling fraud; Mandatory e-invoicing itself does not tackle fraud, combined with real-time reporting (e-reporting) it does; One single European Union (EU) e-invoicing standard is not feasible.

Source Summitto

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