- Electronic invoicing replaces traditional paper and PDF invoices with standardized digital formats that are automatically validated and recognized by tax authorities.
- E-reporting involves real-time or near real-time submission of invoice and transaction data to tax authorities for control and compliance.
- Over 80 countries have implemented or announced e-invoicing mandates, driving a shift toward continuous transaction controls and real-time VAT reporting.
- VAT recovery now depends on holding validated e-invoices, as only these are recognized for VAT purposes in countries with mandatory e-invoicing.
- Most current e-invoicing mandates impact domestic B2B transactions, affecting how businesses report and reclaim VAT.
Source: VAT IT
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