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E-invoicing is one of the most important tools to prevent fraud and tax evasion in Latin America. Invoicing regimes are mandatory in many countries, and in others, implementation is being phased in.
The use of electronic invoicing has significantly increased in Europe in recent years. Several countries have implemented invoicing systems to optimize their processes and reduce the VAT gap.
PEPPOL was launched in 2008 as an EU initiative to facilitate the development of e-procurement in Europe. Its primary goal is to provide a secure and reliable exchange of different types of data sets between end-users via PEPPOL service providers.
Continuing issues with VAT fraud are prompting tax authorities to adopt machine learning and generative artificial intelligence to tackle the problem. Tax authorities in numerous countries, including those in the European Union, are increasingly adopting artificial intelligence tools to combat VAT fraud.
E-invoicing implementation through the PEPPOL network plays a pivotal role in the digital transformation process of countries. Its extensive acceptance, continual enhancements and inherent advantages enable a remarkable enhancement of business operations in Australia and New Zealand.
The Electronic Invoicing Service Providers Association (EESPA) has welcomed the harmonisation of e-invoicing and digital reporting requirements (DRR) proposed as part of the ViDA (VAT in the Digital Age) project. The EESPA seeks to encourage the use of the DCTCE model for B2B transaction data and exchanging invoices.
SERES has released an extensive analysis on B2B electronic invoicing in the European landscape for 2023. The report showcases that various countries are set to integrate e-invoicing into inter-business transactions within the next three years. These include Romania, Poland, France, Greece, Latvia, Slovenia, Slovakia, Croatia, Spain, Germany, and Belgium.
The incorporation of e-invoicing is a crucial part of the digital transformation of nations. Its widespread adoption has become a global phenomenon, particularly in the Oceania region in recent years.
Today, Africa is deeply engaged in an unprecedented process of digital transformation at the national, regional and continental levels. This transformation is being driven by the vision outlined in Agenda 2063: The Africa We Want. This ambitious master plan serves as a guiding roadmap that will enable the African continent to establish itself as a global force in the future.
Adoption of e-invoicing continues to progress in Latin America, and a notable example of this progress can be seen in recent developments in Colombia and Peru during the month of September.
