- Plans are afoot for the implementation of new EU legislation
which will equalise the treatment of electronic and paper
invoicing.
- At present, different rules apply to electronic invoicing in
different jurisdictions and so any negotiation of e-invoicing
contracts should be approached with particular caution.
In January 2009, Commissioner Kovacs (EU Commissioner for
Taxation and Customs) announced the intention that paper and
electronic invoices would receive identical treatment. He estimated
this could save up to €18bn a year across the EU.
Current electronic invoicing rules are complicated, and are
based on EU Directive 2001/115. The procedures are set out in
detail on the HM Revenue & Customs website (www.hmrc.gov.uk), and are potentially
difficult to apply in practice. According to HMRC, electronic
invoicing offers many advantages over traditional paper invoicing
including:
