Invoices document tax-relevant business actions. They form the basis for upcoming payments and tax contributions. They also fulfill essential information obligations for companies.
The completeness and correctness of all invoice data enable an effortless process for fulfilling and identifying various compliance requirements, from creation to processing by the invoice recipient.
Knowing the Regulatory Framework
Invoicing is subject to a variety of rules and requirements, which may vary from country to country.
In the European Union, for example, invoicing is regulated by the VAT Directive, which establishes uniform invoicing requirements across all Member States.
Using Electronic Invoices
Electronic invoices offer increased efficiency in the creation and checking of invoices as well as in operational processing. They also enable savings in paper and printing costs.
Thanks to their digital properties, they are easy to archive and manage. Their authenticity can be ensured through digital signatures. They promote the digitalization of the economy and improve compliance with regulatory requirements.
Creating Pro-forma Invoices
Companies with tax-exempt intra-community movements of goods use pro-forma invoices as documentary evidence to authorities.
They can also serve as a basis for the correct calculation of customs duties and import taxes.
Using Information and Communication Systems
Increasing demands on invoicing require ever more powerful information and communication systems. These systems are critical for current compliance and long-term planning.
The increasing use of electronic invoices and demands for real-time reporting by authorities require systems that meet current requirements and are prepared for future developments.
Meeting Compliance Requirements
Invoices should comply with national and international regulations. This minimizes liability risks and strengthens trust in the integrity of companies.
Modern processes enable effortless management and analysis of available invoice data. This opens up further improvements and opportunities for companies to develop their full international potential.