- Expanded e-Invoicing Requirements: By January 1, 2026, a wider range of New Zealand government agencies, including ACC, Waka Kotahi, Health NZ, and NZ Police, must be capable of issuing and receiving e-Invoices according to the Peppol PINT standard, enhancing digital integration in procurement.
- Accelerated Payment Timelines: Government agencies are mandated to pay 95% of domestic trade e-Invoices within five business days by 2026, significantly improving cash flow predictability for businesses, particularly small and medium enterprises (SMEs).
- Phased Implementation: The rollout occurs in two phases: starting January 1, 2025, agencies will aim to settle 90% of domestic trade invoices within 10 business days, followed by an escalation to 95% within five business days by January 1, 2026.
- Business Consultations for Adoption: The government will consult with businesses about potentially requiring specific suppliers to adopt e-Invoicing as part of procurement standards, with consultations expected to conclude by February 2025 to foster broader adoption.
- Economic and Digital Transformation Goals: This initiative aligns with New Zealand’s objectives to create a digitally advanced and transparent government, aiming for efficient payment processes that provide economic benefits and streamline government procurement operations.
Source RTCsuite
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See also
- E-Invoicing/Real Time Reporting – What can you find on VATupdate.com
- Worldwide Upcoming E-Invoicing mandates, implementations and changes – Chronological
- Collection of E-Invoicing Guides – Worldwide – VATupdate
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
