4-Step Guide to Avoid e-Invoicing Penalties Around the Globe
Governments all over the world are pushing stronger and stronger for unified tax collection and paperless data exchange. One of the biggest shifts is related to the e-invoicing regulations, which are becoming obligatory in an increasing number of countries.
Why are so many countries going paperless? The main benefits of embracing e-invoicing include:
- Cost optimization (e-invoicing can cut costs by as much as 60-80% compared to paper invoices!)
- Facilitated automation
- Minimized risk of human errors
- Better compliance and security
- Environmental concern
However, the process of moving towards electronic invoices is quite complicated and lengthy, with different countries embracing different formats, mandates, EDI platforms, and – most of all – dates for when the new approach to data exchange will become mandatory.
Staying on top of these changes is crucial, as not abiding by the new rules may pose a serious problem – not only due to disrupted communication with your clients and partners but also because of the penalties that certain countries plan to impose on taxpayers who issue incorrect invoices.
Want to know how to avoid such a fine?
Check out our 4-step guide to steering clear of e-invoicing penalties. In it, we detail the deadlines for embracing e-invoicing in different countries around the globe, with specific amounts of potential fines for each country.
Download the new white paper, “Mandatory e-Invoicing Penalties Around the World (And How to Avoid Them),” available for free HERE.
