Regulatory Framework
- E-invoicing is mandatory for B2G (business-to-government) transactions. Both parties must be capable of handling electronic invoices.
- While B2B (business-to-business) invoicing is not yet mandatory, it is expected to be implemented soon due to the “Bookkeeping Act.”
Adoption Timeline
- 2005: E-invoicing became mandatory for B2G transactions.
- February 1, 2023: New regulations for digital reporting came into effect. Entities needed to notify the Danish Authority by October 31, 2023, to register their systems for digital reporting, effective from January 2024.
- Upcoming deadlines:
- January 1, 2025: Companies required to submit annual financial statements using unregistered accounting systems.
- No earlier than July 1, 2026: Personal ownership companies with a net turnover exceeding 300,000 DKK in the last two fiscal years.
Scope
- B2G Transactions: The Danish government and public institutions require invoices to be sent electronically in a standardized format.
Involved Parties
- Reception and Processing: Central, regional, and local authorities.
- Transmission: Economic operators and suppliers to public entities.
Model
- Denmark employs a Centralized CTC Model with a national infrastructure called NemHandel, which aligns with Peppol’s structure and principles.
- The Danish government aims to gradually phase out the NemHandel infrastructure in favor of Peppol.
Formats and Requirements
- Formats: Electronic invoices can be in OIOUBL (based on UBL 2.0) or Peppol BIS 3.
- Invoices must be archived for 5 to 10 years from the date of receipt.
- Digital signatures are not mandatory.
Source Digtechs
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
