Do you know your PEPPOL from your CTCs?
As e-invoicing continues to accelerate with more governments putting mandates in place to streamline tax activities, the tax reporting landscape continues to be increasingly complex.
What initially started as a European project to digitalise public procurement and B2G invoicing, PEPPOL is now an e-invoicing standard and network being adopted by markets across the globe including Australia, New Zealand, Singapore and Japan. Mandatory e-invoicing for all B2B sales will be introduced across several European countries in 2024, including France, Spain, Poland, and Belgium.
In our upcoming webinar ‘e-invoicing and e-reporting models explained, our resident expert Alex Baulf, Senior Director, Global Indirect Tax, will take you through all that you need to know about e-invoicing models. He’ll guide you through the labyrinth of models, terminology and key aspects as well as the benefits and watch-outs you need to be aware of. This will include an overview of a 4-Corner model, what Continuous Transaction Controls (CTCs) are, and the typical formats of e-invoices globally.
Alex Baulf said: “Without a doubt, e-invoicing is becoming the global standard for tax compliance across all markets. And this trend is set to continue. Unfortunately for businesses, although this is becoming the norm, despite the benefits a digital system brings, the absence of a unified approach results in headaches, confusion and makes it challenging for businesses to think strategically.
In the last three years, businesses have had to swiftly adapt to huge amounts of disruption: Covid, Brexit, swathes of new legislation, and now a macro-economic landscape that is putting pressure on businesses and consumers alike.
With no single e-invoicing system that fits all, ambitious businesses are once again being left to navigate through the quagmire that is the global tax reporting landscape.”
Organisations such as the Pan-European Public Procurement Online (Open PEPPOL) and the European e-Invoicing Service Providers Association (EESPA) have been set up to help drive more standardisation across e-invoicing processes and standards, as well as helping businesses understand the requirements.. If you’ve not heard of them, you’ll hear more about what they do, as well as how Avalara’s single, scalable and global e-invoicing solution is designed to comply with e-invoicing regulations in over 60 countries.
With interoperability being the industry buzzword of the moment, making sure documents can be easily received and accepted by different ERP, accounting and billing systems is at the heart of cross-border trade. Keep your business moving and find out how you can effectively tackle electronic invoicing.
Sign-up today to take part in our free webinar on September 20, 2022. Can’t make it? Register now to receive a playback of the session.
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