- Modernization Initiative: Ireland is revamping its e-invoicing and VAT reporting system to enhance operational efficiency and compliance, launching a public consultation to gather feedback on proposed changes that will inform a detailed report for future implementation.
- Proposed Changes: The government is considering making electronic invoicing and reporting mandatory for intra-community transactions, standardizing digital reporting requirements, and exploring Continuous Transaction Controls (CTC) models to streamline VAT processes.
- Current E-Invoicing Landscape: While electronic invoicing is currently optional in Ireland, any e-invoicing system used by VAT-registered businesses must comply with specific VAT rules, ensuring proper generation, storage, accessibility, and integrity of electronic records for audit purposes.
Source Comarch
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