- Germany’s Federal Ministry of Finance (BMF) has proposed that e-invoicing be introduced for domestic B2B sales from 1 January 2025, ahead of the European Commission’s 2028 deadline.
- The requirement applies to invoices issued by businesses to other businesses for taxable services in Germany. Small businesses may also be included.
- The BMF is also considering a transaction-based reporting system, which could be used to submit reports for national and cross-border B2B transactions to tax authorities via an e-invoicing platform.
- Businesses must prepare for e-invoicing and upgrade their current systems. The specific rules, technical frameworks, and standards are still unknown.
- However, the draft presents an opportunity for businesses to digitise their internal processes and reduce bureaucratic hurdles.
Source DLA Piper
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