For Finextra's free daily newsletter, breaking news and flashes and weekly job board.
I have often been asked lately how the e-invoice penetration in a country can be
raised fast. This urge to speed up migration is increasingly driven by the need to cut costs and improve productivity – but also more by the need to get tax revenues lost in the grey economy.
It has been realized that mandatory digital signatures was a mistake and now when the VAT-directive has outlawed mandatory-ship it should be easy for any SME to use one of many generic portal services to send e-invoices – just like payments (subject to operators
supporting interoperability – most do).
The answer is very simple. Invoice receivers – especially the rest of state and municipal sectors -
should set deadlines for paper and e-mailed PDFs. If the service supply is adequate - still during 2012 (granting billerspecific extensions when invoicing systems need tuning) – if the service supply is only building up and operator-roaming
is scant then during the first half next year.
Mandatoryship is usually resented – but they are dearly needed now as the
benefits are so massive for society at large – be it more competitive enterprises, better jobs, just tax collection, rule of law, CO2 reduction or lower tax pressure. The lack of symmetry needs this action as the SMEs sending invoices do not see much
value in saving work worth 1pct of a small turnover and have no time to realize the huge benefits around the corner.
Chairman/Founding member, board member
Transmeri, Demos, Real Time Economy Program,MyData
04 Nov 2008
11 Nov 2019
06 Nov 2019
28 Oct 2019
This post is from a series of posts in the group:
A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation.