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The advent of e-invoicing is reshaping how companies manage invoices and navigate the complexities of tax compliance globally. With tax regulations varying from one country to another, businesses operating internationally face substantial challenges. The European Commission is making headway in harmonising tax regulations, but what does this mean for your business?
Embracing Continuous Transaction Controls (CTC)
The European VAT gap stood at a staggering €93 billion in 2020 alone. New regulations aim to close this gap through real-time monitoring and regulation of business transactions. E-invoicing and CTC are at the forefront of this transformation. Countries like Poland, Italy, and Belgium have already made e-invoicing mandatory, and the EU is planning to follow suit by 2028.
Navigating VAT in the Digital Age (ViDA)
ViDA is poised to standardize VAT reporting across the EU. The impact on businesses will be profound, mandating B2B e-invoicing by January 2024 and making e-invoicing the default method by January 2028.
Discover how the landscape of business operations is undergoing a significant transformation, driven by e-invoicing and new tax compliance strategies. Learn how Kefron can help you navigate these complexities effortlessly.
Kefron provides a range of information management solutions including Document Scanning, Accounts Payable Automation and Electronic Document Management solutions. We work to the highest international standards and we are proud to hold four ISO certificates, including ISO 27001 for Information Security.