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Tax fraud, complicated reporting requirements, and differing national regulations in cross-border trade mean that preparing reports is becoming increasingly complex and prone to errors. This is precisely where the EU wants to start with ViDA – “VAT in the Digital Age.” The goal is clear: a modernization package based on three pillars: digital reporting requirements, platform economy, and uniform VAT registration.
Anyone currently looking into e-invoicing in Europe usually looks first to France, Poland, or Germany. In these countries, government mandates are forcing companies to switch to digital. But while the market waits for the next big “must,” a model has established itself almost unnoticed in the Netherlands that is just as interesting for SAP customers: a successful system that focuses on standardization rather than coercion.
Our neighboring country Denmark is considered a European pioneer in e-invoicing. Consequently, e-invoicing in Denmark has been mandatory for all invoicing in the B2G sector since 2005.
The introduction of mandatory electronic invoicing (e-invoicing) in France is part of a Europe-wide campaign to improve the traceability of corporate tax data with one goal in mind: to combat tax fraud and close VAT loopholes.
The digitalization of tax and invoicing processes is continuously advancing across Europe. Belgium is also playing an increasingly active role in this development. With a clear focus on the Peppol network and unambiguous legal requirements, the country has made electronic invoicing a strategic driver of digitalization – both in public procurement and prospectively in the B2B sector.
E-invoicing is at the heart of current digitisation initiatives in finance and taxation worldwide, with the aim of speeding up business processes and curbing tax fraud. The United Kingdom is also looking closely at this issue. This blog article provides a clear overview of e-invoicing and the current situation in the UK – from the basics and the legal framework to the implications for businesses.
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