- International e-invoicing presents challenges due to different tax laws and regulations, currencies, language requirements, and mandatory country-specific information.
- Companies need in-depth knowledge of these regulations for compliance and ongoing adherence.
- Fluctuating exchange rates require payment in suppliers’ native currencies and may require additional documentation.
- Invoices may need to be sent in the customer’s native language.
- Different countries have different invoice requirements and may impose additional specific information for international transactions.
- Tax codes, such as VAT, must be included in invoices.
- Customs invoices may be necessary depending on the country.
- Compliance audits by tax authorities can occur after invoice issuance or in real-time.
- Managing international invoices may require extra staff resources and incur additional costs.
- Fluctuating exchange rates can impact profit margins and create financial risks.
- Secure management of customer data is necessary to comply with confidentiality and personal data protection regulations.
Source: blog.basware.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
