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The new Directive sets out to ensure the acceptance by tax
authorities of eInvoices under the same conditions as for paper invoices
and to remove legal obstacles to the transmission and storage of
eInvoices. It also comprises measures to help tax authorities have their
taxes paid so as to better tackle VAT fraud. These include establishing
deadlines for the issuance of invoices, thus enabling speedier exchange
of information on intra-European Union (EU) supplies of goods and
services.
Current EU provisions on VAT invoicing have led to a
less-than-harmonised set of rules, on account of the many options that
remain available to the Member States. The aims of current provisions
have therefore not been fully met.
Furthermore, compliance with regulatory requirements has hindered the
take-up of technologies that are necessary for the development of
eInvoicing.
The European Commission estimates up to €18 billion potential annual
cost savings for businesses if obstacles to eInvoicing in VAT rules were
to be
removed. |
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