Key points regarding eInvoicing and the collaboration between the United States and the European Union (EU):
- eInvoicing Transformation:
- eInvoicing is a powerful tool in modern business, offering efficiency gains, cost savings, and trade benefits.
- It facilitates smoother processes in areas like trade, customs, payments, and fraud mitigation.
- Principles for Success:
- Both the United States and the EU embrace key principles:
- Connect once, connect with everyone: Simplify connections across systems.
- No roaming fees between Access Points (AP): Seamless communication.
- Open exchanges: Users can choose their preferred AP.
- Both the United States and the EU embrace key principles:
- Alignment and Interoperability:
- Efforts continue to align eInvoicing processes and terms between the US and EU data models.
- The goal is to enhance compatibility and streamline cross-border transactions.
- Cooperation and Coordination:
- Government experts from both sides collaborate to drive eInvoice interoperability.
- EU experts include representatives from DG TRADE, DG GROW, DG CNECT, and DG TAXUD.
- US experts involve the Office of the United States Trade Representative and federal agencies.
- Future Prospects:
- The focus remains on technical and business interoperability to foster efficient eInvoicing practices.
Source
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
