E-invoicing and digital reporting obligations are popular among tax authorities worldwide. Different approaches are followed by governments to process and receive indirect tax relevant data, involving various stakeholders such as suppliers, buyers, service providers, and tax authority platforms. There are three main e-invoicing models: Interoperability Model, Centralized Model, and Decentralized Model. The 5 corner model is a sub-model under the decentralized model. The Interoperability Model aims to standardize document format and exchange methods, with service providers playing a key role. The Centralized Model operates through a central platform, which may or may not handle the e-invoice exchange process based on the tax authority’s functionality and requirements.
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