The clock is ticking on new e-invoicing and digital reporting requirements evolving throughout European Union (EU), so it’s worth a quick look back for some context on how we got here. Organizational concerns about these e-invoicing and additional reporting requirements are also worth considering.
Brazil’s pioneering e-invoicing requirements took effect in 2008. Brazil’s legislators and tax authorities enacted these rules, in large part, to push back against grey- and black-market activity.
Italy mandated B2G e-invoicing in 2014, followed by their e-invoice clearance portal for B2B transactions in 2019 as part of an effort to counter VAT non-compliance and fraud.
Source: www.vertexinc.com
