- The German Government has proposed changes to the VAT Act through the Growth Opportunities Act.
- One key proposal is the introduction of mandatory electronic invoicing for specific B2B transactions.
- These e-invoices will align with European standards and apply when both supplier and customer are in Germany.
- The amendment also aims to streamline bureaucracy for small businesses, particularly under Section 19 of the German VAT Act.
- The mandatory e-invoicing provision is planned for implementation in 2025.
- This marks a significant shift in tax technology and compliance for businesses in Germany.
Source: tpa-global.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.
