- E-invoicing is becoming essential for businesses in North America due to global mandates aimed at improving tax collection, transparency, and reducing fraud. With over 60 countries implementing e-invoicing frameworks, businesses must adapt to these changes to ensure compliance and benefit from faster payments and improved efficiency. E-invoicing involves the electronic exchange of invoice data in real time, enhancing tax administration and reducing fraud. Governments are mandating e-invoicing to modernize tax systems and increase revenue. Key global initiatives include the EU’s ViDA, France’s 2024 mandate, Italy’s SdI model, and the UK’s Making Tax Digital.
Source: vertexinc.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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