- The implementation and adoption of electronic invoicing (e-invoicing) vary across countries due to factors such as tax maturity, compliance levels, technological advancements, tax culture, focused sectors, and different tax regimes.
- Despite the disparities, there are common elements that countries consider when developing their e-invoicing models and rollout strategies.
- The legal basis is crucial, which can involve specific legislation dedicated to e-invoicing or amendments to existing laws related to VAT, Corporate Tax, Electronic Commerce, and digital signatures.
- Ensuring the authenticity and integrity of electronic documents is paramount, often achieved through certified agencies authorized for processing electronic signatures.
- Obligations regarding e-invoice issuance, validations performed by Tax Administrations, storage and conservation requirements, and taxpayer consultation systems are important considerations for countries implementing e-invoicing.
- By focusing on these key elements, countries can develop efficient e-invoicing models that promote compliance, streamline processes, and yield long-term benefits. Governments will continue refining their e-invoicing systems to adapt to evolving needs.
Source Liwa-Analytics
Author:
Diana Caceres
E-invoicing advisor- Tax tech transformation
Liwa Analytics
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