B2G and B2B e-invoicing adoption accelerates in Cambodia
On 12 December 2024, the General Department of Digital Economy of Cambodia (GDDE) introduced the voluntary registration of the Cambodia E-Invoicing System for Business-to-Government (B2G) transactions.
The GDDE aims to extend this e-invoicing system to Business-to-Business (B2B) transactions by 2025 and, in addition, plans to include Business-to-Consumer (B2C) transactions.
CamInv: the e-invoicing platform in Cambodia
The e-invoicing system in Cambodia has been designed to satisfy the requirements of a diverse range of commercial entities, facilitating the transmission and reception of electronic invoices between sellers and buyers.
The platform facilitates real-time validation of VAT data, thereby affording tax authorities enhanced capabilities to effectively track and monitor all transactions. Furthermore, the CamInv system has been developed to support businesses of all sizes, providing the flexibility to transition to electronic VAT invoicing at a pace that is appropriate for the individual business.
The system fosters collaboration between stakeholders, thereby streamlining the invoicing lifecycle and enhancing operational efficiency and transparency. The digitisation of invoicing ensures scalability and minimal disruption, thereby supporting businesses through growth and operational changes.
What does CamInv bring to taxpayers?
Cambodia's e-invoicing solution has been developed to offer taxpayers a seamless experience, with advanced functionalities designed to ensure the platform's accessibility and ease of use.
The first of these is the standard invoice, which contains the common elements required by the General Department of Taxation. Furthermore, the invoice can be exported in PDF format, printed on paper, and adhered to PEPPOL formats to achieve the desired interoperability in the exchange of electronic invoices.
Furthermore, taxpayers are assigned a unique identification number for their e-invoice, ensuring its recognition by the government.
Invoices can be checked and validated with an advanced invoice verification tool to ensure accuracy and absence of errors in transactions. The use of blockchain technology ensures the integrity and security of the data.
The system's integration with enterprise resource planning software facilitates workflow automation.
Finally, users will be empowered to manage e-invoices at any time and from any location via the internet.
