- UK Government considering introduction of e-invoicing system
- European countries already implementing e-invoicing and real-time reporting systems
- Lack of studies on effectiveness of e-invoicing in increasing tax revenue
- No significant increase in revenue reported after introduction of e-invoicing systems
- Lack of standardization in e-invoicing systems across different countries
- Complexity for small and medium businesses trading in multiple jurisdictions
- No direct benefits to taxpayers seen from e-invoicing systems
- Challenges faced in rolling out Making Tax Digital for VAT in the UK
- No evidence showing MTD has increased revenue or tax compliance for HMRC
Source: essentiaglobalservices.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.
