Abstract:

Electronic invoicing consists of the exchange of an electronic invoice document between a supplier and a buyer, which is issued and transmitted in a structured data format which allows for its automatic and electronic processing, as defined by Directive 2014/55/EU. Currently there are several EU jurisdictions which already implemented the electronic invoice, both in the B2G and B2B relationships, to a certain degree. Electronic invoicing is not only a beneficial process for companies and public institutions from a time and workload efficiency perspective due to the process automation, but also part of the current digitalisation trend which among other aspects, its aim is to reduce tax evasion, to reduce bureaucracy and overall to have a transparent and real-time digital reporting for businesses. My aim is to perform an analysis of the status of implementation of the electronic invoice in each EU member state, together with any envisaged benefits, the stakeholders involved in this process and the risks and related challenges which may impact the implementation of the electronic invoicing system.