No more delays in the introduction of mandatory e-Invoicing in France!
No more delays in the introduction of mandatory e-Invoicing in France!
The digitalisation in tax management and compliance is an unstoppable and global trend. The use of electronic invoicing (e-invoicing) in B2B transactions is becoming increasingly common in Europe, with it being already mandatory in some countries:
- Italy since 2019 ;
- Spain since 2011, for all VAT-registered businesses ;
- Portugal since 2020 ;
- Poland since 2023 ;
- Greece since January 2022.
However, it is also a process that requires a period of adaptation and implementation, as clearly shown in France. Towards the end of 2020, France made electronic receipts mandatory by 2023, but has since decided to postpone this date to July 2024 in order for companies to have more time to implement the necessary systems, such as Purchase To Pay software solutions from Sixaxe.
Here are some important deadlines coming up in France:
- For outgoing invoicing only, all companies subject to VAT must comply to this regulation starting July 1st, 2024.
- For incoming invoicing, the regulation calendar goes as follows:
- From 1 July 2024 onward, all large-sized companies to apply this new regulation, at least all classified GE, meaning companies with +5,000 employees and that have a revenue of +€1.5 billion euros or €2 billion in assets;
- From 1 January 2025 onward, all classified intermediate-sized companies will be required to apply the mandatory e-invoicing;
- From 1 January 2026, small and very small companies, with max. 250 employees and less than €50 million euros of revenue or 43 million in assets, will have to apply this regulation.
In conclusion, several European countries have already made this electronic invoicing mandatory for B2B transactions. It is a major trend that will transform the Purchase To pay Process, knowing that the main goals of these initiatives are to reduce administrative burdens, to improve the efficiency of the invoicing process, and to fight against tax evasion.
In order to bring the best solution to its clients, Sixaxe is currently improving its P2P software in order to be compliant with the e-invoicing regulation ( CHORUS ) for Q4 2023.