Worth the wait ... The Growth Opportunities Act passes
Finally, the Growth Opportunities Act passed on March 27, 2024.
It has lead to a significant change to the German Value Added Tax
Act (UStG), listed in Article 23, pertaining to electronic
invoicing (e-invoicing) for services between companies (B2B). An
overview of this can be seen in blog posts of April 20, 2023 and
July 21, 2023.
All businesses will be required to use e-invoicing for B2B
transactions and must comply with the EN16931 European standard. It
means an invoice will have to be transmitted and received in a
structured electronic format, enabling electronic processing.
The European standard is a semantic (abstract) data model
listing the essential elements that an e-invoice needs to have to
be legally and tax compliant A semantic data model is technology
neutral. It describes the meaning and structure of the information
that an e-invoice has to contain. The wording of e-invoices must
correspond to
