- E-invoicing is not the same as digital invoicing, and many tax professionals are not clear on the differences.
- E-invoicing enables a more automated exchange of invoice data between supplier and buyer, without manual intervention.
- The primary regulatory objective of e-invoicing requirements is for tax jurisdictions to gain immediate access to tax-relevant data on the invoices, increasing efficiency, ensuring compliance accuracy, and reducing tax fraud.
- Companies and their tax groups should familiarize themselves with e-invoicing rules and requirements, as compliance represents a strategic business priority.
Source Vertex
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