Welcome to the world of E-invoicing compliance
In recent times, there have been new mandates implemented that companies need to adhere to. Particularly in Europe, where Directive 2014/55/EU has been applied for years, while next to that each country also updates according to its specific regulations constantly. Moreover, the European Union has also proposed a new way of handling VAT, called VAT in the Digital Age (ViDA), that will affect business across member states. Let’s explore the importance of e-invoicing compliance and how Pagero and Quistor can help your business stay ahead of the game.
Firstly, e-invoicing compliance is crucial for companies operating in Europe, as it helps businesses streamline their invoicing processes and meet regulatory requirements. Directive 2014/55 dictates that it is mandatory to adopt its regulations, which means that all businesses must receive and process e-invoices according to the European standard. It aims to reduce the administrative burden on businesses and improve the efficiency of the invoicing process. This is not the only regulation that must be followed, as new mandates are also being established in each country, and they all need to be compatible with the European dictate. Failure to comply with these mandates could result in penalties and legal consequences.
