SERES Blog English

E-invoicing adoption in Asia has grown quickly in recent years, positioning the region at one of the highest annual growth rates for e-invoicing.

The recent Economic and Financial Affairs Council, commonly known as ECOFIN, convened in Luxembourg in July. During this meeting, EU member states demonstrated broad agreement on the majority of proposals presented under the ViDA project.

Mandatory electronic invoicing has become increasingly prevalent in Europe in recent years, with a number of countries embracing this method to modernise and simplify their invoicing processes. The transition to e-invoicing has been gradual but steady, with a range of European nations passing legislation and regulations to encourage the uptake of mandatory e-invoicing.

Since the publication of Directive 2014/55/EU, e-invoicing has spread to all countries on the European continent.

The Romanian Ministry of Finance announces new plans to extend mandatory B2B e-invoicing, which will start in July 2024, to B2C transactions. 

It is expected that in July 2024, at the same time as mandatory B2B e-invoicing starts in Romania, the voluntary period for B2C transactions will start, which is expected to become mandatory in January 2025.

As part of the digital reporting requirements and the ViDA project, Romania will have to harmonise its centralised settlement model with the reforms proposed by the EU by 2035.