France is preparing for a major reform which will require all companies to exchange their invoices electronically (e-invoicing) and to transmit to the administration all the tax data of their transactions (e-reporting) falling within the scope VAT application.
Subject to planning the timetable called for by the companies, the law provides for entry into force of this reform in stages between 1 st January 2023 and 1 st January 2025 (art. 153 of the Finance Act for 2020). From 1 st January 2023, companies will be required to agree to receive invoices in electronic form. This reform aims to fight VAT fraud, simplify life for businesses, reduce the cost of processing invoices and, ultimately, allow their VAT returns to be pre-filled. According to the administration, it could also have an impact on the management of the deadlines for settling their invoices by companies.
Source CMS Francis Lefebvre (in French)
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