The Australian Taxation Office (ATO) is hosting eInovicing Week 2022 this week to help businesses learn about its new standardised method of filing digital invoices.
The ATO is expecting significant growth in the use of eInvoicing over the next 12 months, with more than 18,000 businesses already using it.
According to ATO Deputy Commissioner Will Day, eInvoicing enables businesses to immediately transact with everyone on the same network, allowing faster transactions that improves cashflow, and reduces the risk of fake or compromised invoices and email billing scams.
The ATO advises businesses interested in setting up eInvoicing to register their accounting software or talking to their advisers.
More information is available on the ATO website.
Source KPMG
