8/31/2023 0 Comments Digital invoicing![]() the amount of the transaction, the amount of VAT invoiced) relating to commercial transactions that do not fall within the scope of electronic invoicing. What is e-reporting? Why send transaction data?Į-reporting is the transmission of certain information to the tax authorities (e.g. The term “e-invoicing” can refer to electronic invoicing. The universal adoption of electronic invoices guarantees savings for all companies and acts as a driver for modernising the invoicing chain by simplifying its management and monitoring and helping to reduce payment times. It will be sent to the customer via an online platform, whether this is the public invoicing portal or another online platform. In accordance with the new Article 289 bis of the General Tax Code, an electronic invoice is one that is issued, transmitted and received in paperless form and should include a minimum core set of data in a structured format, distinguishing it from a “paper” invoice or a standard PDF. improving real-time knowledge of business activity to ensure that economic policy management is as consistent as possible with the economic reality of all stakeholders.improving fraud detection, in the interest of economic operators acting in good faith.eventually simplifying companies’ VAT reporting obligations by pre-filling the declaration form.For a company, the cost of an electronic invoice is less than that of a postage stamp, whereas the cost of a paper invoice is more than €10 enhancing business competitiveness by lessening the administrative burden, reduced payment times and productivity gains resulting from a paperless approach.However, the rate of paperless business-to-business transactions remains low, generating extra costs for companies.Īrticle 26 of the 2022 Supplementary Budget Act provides for mandatory electronic invoicing in exchanges between companies established in France and subject to VAT. All these invoices go through Chorus Pro, with a total of nearly 140 million invoices exchanged since 2017. Since 1 January 2020, all French companies have been required to send their invoices to public sector entities in electronic format. Nevertheless, it remains possible (already provided by previous provisions) to issue an electronic invoice and to transmit it via SDI also with regard to cross-border transactions, within the respective and different terms.I'm moving to electronic invoicing Why the move to extend electronic invoicing to between all companies? ![]() ![]() Therefore, for the first half of 2022, the communication of the data for cross-border transactions will continue to be carried out according to the current operating methods and terms (i.e. Starting from that new deadline, the communication of the data of cross-border transactions shall be conducted via SDI and using the XML e-invoicing format (of course, using the proper document type, etc.). In addition, it must be noted that the implementation of the e-invoicing via SDI with regard to cross-border transactions, so-called ‘new Esterometro’ – which, as a matter of fact, implies an extension of the e-invoicing operative procedure to cross-border incoming and outgoing transactions, has been postponed from 1 January 2022 to 1 July 2022. However, in connection with the latter aspect, possible rules still have to be adopted.īased on the recent EU Decision, taxpayers who are not resident or not established in Italy, but have a mere VAT registration in Italy (having obtained a direct VAT registration or having appointed a fiscal representative in Italy) will not be obliged to implement the e-invoicing procedure via SDI. the exchange data system managed by the Italian Tax Authorities).įollowing the recent extension, this special measure, on the one hand, covers a broader time frame (until the end of 2024) and, on the other hand, includes a wider scope since (as a matter of fact) it allows the possible implementation of the mandatory e-invoicing procedure via SDI also with regard to taxable persons who benefit from the exemption for small enterprises (under Article 282 of the VAT Directive). After the expiration of the former authorisation on 31 December 2021, Italy has been authorised until 31 December 2024 to accept e-invoices via SDI only if they are issued by taxable persons established in Italy (Council implementing Decision (EU) 2021/2251 of 13 December 2021).Īs already known, since 2019 Italy has implemented a peculiar procedure according to which taxpayers resident or established in Italy are required to issue electronic invoices in a specific XML format to be transmitted via SDI (i.e. ![]()
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