- Study Commissioned: Norway’s Ministry of Finance has commissioned a study to explore the implementation of digital bookkeeping and mandatory electronic invoicing for business-to-business transactions, aiming to simplify processes and enhance reporting accuracy.
- Current Regulations: Since 2019, public sector entities have been required to use electronic invoicing for transactions with private companies, but there are currently no such requirements for transactions between businesses.
- Expected Benefits: The Norwegian Tax Directorate will assess the potential introduction of these requirements, with findings expected by mid-June 2025. The Ministry anticipates that implementing electronic invoicing could save Norwegian companies approximately NOK 5.5 billion (USD 486.5 million) annually in administrative costs.
Source: answerconnect.cch.com
See also
- Regjeringen.no – Digital bookkeeping and e-invoicing: Will make everyday life easier for companies
- Investigation Commissioned by the Ministry of Finance: The Ministry of Finance has tasked the Directorate of Taxes with exploring the requirements for digital bookkeeping and mandatory e-invoicing between private enterprises, aiming to simplify processes for businesses and enhance reporting quality to authorities.
- Focus on Simplification and Efficiency: Since 2019, public agencies have been required to use e-invoices in transactions with private companies. The government seeks to extend similar requirements to private sector transactions, which could significantly reduce costs and time for businesses, while also aiding in the fight against financial crime.
- Potential Economic Benefits: Preliminary estimates suggest that the increased use of e-invoicing could save Norwegian companies approximately NOK 5.5 billion annually. Additionally, the initiative aims to improve digital data flow, facilitate sustainability reporting, and contribute to combating financial crime, with a report on the findings expected by mid-June 2025.
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.
