As the world continues to embrace digitalization, the concept of e-invoicing has become increasingly popular. In Eastern Europe, different models and platforms of continuous transaction controls (CTC) have been introduced to facilitate e-invoicing. The VAT in the Digital Age initiative by the EU Commission is also expected to impact the e-invoicing landscape in the region.
Pagero, a leading provider of e-invoicing solutions, has conducted an in-depth analysis of the global e-invoicing and CTC landscapes. The study focuses on the developments in the e-invoicing systems of Hungary, Poland, Romania, Serbia, Slovakia, and Slovenia.
According to the report, Hungary has been at the forefront of e-invoicing adoption in the region. The country introduced mandatory e-invoicing for business-to-government transactions in 2018. Since then, there has been a significant increase in the number of businesses using e-invoicing. The Hungarian government has also implemented a real-time reporting system, which requires businesses to report their transactions to the tax authority in real-time.
Poland has also made significant progress in the adoption of e-invoicing. The country introduced a voluntary e-invoicing system in 2016, which has since been replaced by a mandatory system for certain types of transactions. The Polish government has also implemented a central e-invoicing platform, which allows businesses to send and receive e-invoices in a standardized format.
Romania has been slower to adopt e-invoicing compared to other countries in the region. However, the government has recently introduced a mandatory e-invoicing system for public procurement. The system is expected to be extended to other types of transactions in the near future.
Serbia has also made progress in the adoption of e-invoicing, with the government introducing a voluntary system in 2018. The system has since been replaced by a mandatory system for business-to-government transactions. The Serbian government has also implemented a real-time reporting system, which requires businesses to report their transactions to the tax authority in real-time.
Slovakia has been a leader in the adoption of CTC in the region. The country introduced mandatory e-invoicing for business-to-government transactions in 2014. Since then, there has been a significant increase in the number of businesses using e-invoicing. The Slovakian government has also implemented a real-time reporting system, which requires businesses to report their transactions to the tax authority in real-time.
Slovenia has been slower to adopt e-invoicing compared to other countries in the region. However, the government has recently introduced a voluntary e-invoicing system, which is expected to be replaced by a mandatory system in the near future.
Overall, the report highlights the increasing adoption of e-invoicing in Eastern Europe. The region has made significant progress in the implementation of CTC, with most countries introducing mandatory e-invoicing for business-to-government transactions. The report also highlights the importance of standardization in e-invoicing, with most countries implementing central e-invoicing platforms to facilitate the exchange of e-invoices.
In conclusion, the global e-invoicing and CTC landscapes are evolving rapidly, and Eastern Europe is no exception. The region has made significant progress in the adoption of e-invoicing, with most countries introducing mandatory systems for certain types of transactions. The VAT in the Digital Age initiative by the EU Commission is also expected to impact the e-invoicing landscape in the region, and it will be interesting to see how this develops in the coming years.
