- 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: vatit.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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