- The rapid development of information technologies led to a shift from manual to electronic business processes, including the evolution of eInvoice applications.
- Australia has adopted the Peppol framework for eInvoicing, with the Australian Taxation Office (ATO) as the Peppol Authority.
- Businesses are required to keep records related to their tax and super affairs for 5 years and be able to show them to the ATO upon request.
- Electronic invoices, credit notes, and other document types can be processed by Peppol.
- The Australian Government plans to make e-invoicing mandatory in phases based on company size, starting from July 1, 2023
Source Taxera
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