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The Global Shift to E-Invoicing: Key takeaways from Mexico, Hungary and Poland
In recent years, the global landscape of invoicing and tax reporting has undergone a significant transformation, with an increasing number of countries mandating the adoption of electronic invoicing (e-invoicing) and real-time reporting systems.
This shift represents a convergence of technological advancements and regulatory objectives. Understanding this trend, its drivers, and its implications for businesses with global operations is crucial for staying compliant and competitive in the modern business environment.
The term ‘e-invoicing’ is widely used as a generic term to describe the process of the digital generation, transmission, and processing of invoices and electronic data. This contrasts with traditional paper-based invoicing, which relies on physical documents. In an e-invoicing process, invoices are typically generated electronically within an organisation’s financial or accounting system and then transmitted to the recipient via electronic channels such as EDI (Electronic Data Interchange), specialised e-invoicing platforms, or even to a tax authority platform through which invoices are verified and approved.
E-invoicing comes in different forms and countries have adopted varying approaches to implementing e-invoicing rules. Some countries have implemented standalone e-invoicing systems, while others have opted for real-time reporting mechanisms, requiring information to be shared live or near-live. Additionally, some jurisdictions have adopted a combination of both approaches.
In this article, we explore the practical realities of the implementation of e-invoicing rules in three different countries, drawing on real-world experiences of Mexico, Hungary, and Poland:
- Mexico , with its established e-invoicing rules, offers insights into the evolution and impact of long-standing regulations.
- Hungary , having introduced e-invoicing more recently, presents a perspective on navigating the early stages of adoption and addressing emerging challenges.
- Meanwhile, Poland’s ongoing implementation journey sheds light on the strategies employed and lessons learned in transitioning to e-invoicing amidst evolving regulatory frameworks.
Through examining their experiences, we aim to offer insights into the complexities and opportunities present in the global shift towards electronic invoicing.
Nick Hart
VAT Director
Nexia Saffery
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