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The United Arab Emirates (UAE) will introduce a mandatory, structured e-invoicing system based on the Peppol International Invoice (PINT) on January 1, 2027. With this reform, the Federal Tax Authority (FTA) is significantly advancing the country’s digital transformation.
The digitization of financial and tax processes has gained momentum worldwide, and Singapore became the center of this development for three days during the E-Invoicing Exchange Summit and APAC Peppol Day. Three days full of ideas, figures, examples, and discussions made it clear that e-invoicing is no longer just an IT project.
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 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.
Digitalization is also impacting accounting – on the contrary, it is progressing rapidly and changing the way companies in Europe handle their transactions. More and more countries are relying on mandatory e-invoicing to standardize processes, curb tax fraud, and reduce the administrative burden. Now Poland is following suit: With the Krajowy System e-Faktur (KSeF), the country is introducing one of the most ambitious e-invoicing systems in Europe.
E-invoicing (electronic invoicing) is gaining increasing importance in almost all industries – and the banking sector is no exception. This article examines the growing significance of e-invoicing in the banking sector, clarifies the relevant legal framework, and demonstrates how implementation can be efficiently managed using SAP Document and Reporting Compliance (DRC).
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