The Commission has today published a report on the 2014 EU electronic invoicing (eInvoicing) directive, which shows the crucial role it is playing in simplifying cross-border invoicing procedures, fostering efficiency and reducing costs in the EU and beyond.
The directive lays the foundation for a more interconnected, interoperable and efficient European eInvoicing landscape, taking a step further towards a fully integrated and digitalised single market.
The report finds that public administrations of all EU27 member countries now accept eInvoices compliant with the European eInvoicing standard for public procurement contracts. This helps to reduce the costs and time to process payments for businesses engaged in public procurement.
Moreover, the report find that the directive’s impact has extended beyond the public sector, encouraging the adoption of eInvoicing in Business-to-Business (B2B) transactions. The impact of recent policies encompassing the use of the EU eInvoicing standard and model, including the ‘VAT in the Digital Age’ legislative proposal, will ensure an even more integrated and harmonised eInvoicing landscape.
Finally, the report found that the EU’s approach is being adopted in different parts of the world such as Australia, Japan, Malaysia, New Zealand and Singapore. These countries have based their national eInvoicing specifications on the European standard.
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Details
- Publication date
- 19 February 2024
- Author
- Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs