- New Procurement: On November 18, 2024, the Ministry of Business, Innovation & Employment (MBIE) introduced new rules aimed at improving government payment times for domestic trade invoices, mandating payment deadlines of 5 business days for e-invoices and 10 business days for regular invoices.
- Ongoing Consultations: The MBIE is currently consulting with government suppliers and the business community about potentially mandating e-invoices for billing government agencies, with a report due to Cabinet by February 2025. These discussions will inform proposed changes in the broader review of Government Procurement Rules.
- Surge in E-Invoicing Adoption: There has been a significant increase in the adoption of e-invoicing in New Zealand, with registered businesses for e-invoicing doubling from 23,000 in October to over 50,000 in November, alongside a rise in large businesses sending e-invoices. Benefits of e-invoicing include reduced administrative costs and improved record accuracy.
Source Pagero
