Community
There is still some debate going on in relation to the implementation of easier VAT-rules for invoicing in EU. It is difficult to see any valid counter-arguments to equal-treatment implementation (no additional regulatory demands on e-invoices) especially as:
1. move from paper to e-invoices improves auditability directly - make the step easy - not difficult!
2. equal treatment (no mandatory digital signatures) has not increased fraud
3. a fast migration from paper must thus also from these angles be a key target for anybody interested in national and EU productivity
4. too steep steps - mandatory digital signatures for example - have slowed down progress - preserved old practises and worse - led to erosion in rule of law
5. by making the step-in easy - just like sending and receiving paper - will lead to enterprises finding it easy to move to the next steps - using ready and coming technologies for automating processes further and improve document storage and retrievability. This must for all logical reasons be both the logical and only realistic roadmap - both for enterprises, tax authorities and technology vendors.
As tax payers we are all interested in better conditions for business in EU - with worse conditions taxation will rise - with better conditions we have more resources to finance both welfare and the immense challenge ahead of us - the structural change in work life - demanded by the rapidly aging population.
It is clear to most - even in media today - that digitalization is the key to the structural change lock - it can make all work more productive, it can eliminate much work (that we will not have the workforce for) and it will be much greener. Here e-invoicing is the next step - anybody delaying it should have really good reasons.
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Ritesh Jain Founder at Infynit / Former COO HSBC
29 January
Carlo R.W. De Meijer Owner and Economist at MIFSA
27 January
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