An E-invoicing Refresher Course

E-invoicing and digital invoicing are often confused, with many tax professionals not understanding the differences between digital documents, images of paper documents, and e-invoices.
As more countries adopt e-invoicing regulations, it is important for tax professionals to familiarize themselves with the fundamentals.
E-invoices enable a more automated exchange, with data from the supplier in a machine-readable format that can be imported to the buyer’s AP system without manual intervention.
The primary objective is accuracy and efficiency, with tax authorities emphasizing the benefits of increased tax administration efficiency, compliance accuracy, and reduced tax fraud.
However, complying with e-invoicing rules can present challenges and costs for companies.
It is important to view e-invoicing as a strategic business priority that extends beyond a technology project or tax initiative.

Source Vertex

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E-invoicing