The new approach for bringing adoption of e-Invoicing by SMEs to the next level!
The European Commission on 28 January 2009 adopted a proposal to change the VAT Directive 2006/112/EC (from 28 November 2006) with respect to invoicing rules. The main objectives are to reduce burden on business, increase the use of e-Invoicing, support small and medium sized enterprises (SMEs) and help member states tackle fraud. Regulatory requirements for Electronic Invoicing will change with the advent of the measures aimed at further simplifying, modernizing and harmonizing the VAT invoicing rules. The foundation of the proposal is based on “equal treatment of paper and electronic invoices” in a technologically neutral way by removing the conditions for an Advanced Electronic Signature (AES) and Electronic Data Interchange (EDI). While in the world of electronic agreements and contracts the need for electronic signatures is apparent the reasoning is that e-Invoicing is part of a larger process where every process step contributes to authenticity and integrity of the trade tran...