eInvoicing Country Factsheets for each Member State & other countries
Liechtenstein, a small landlocked country in Europe, has implemented eInvoicing for public contracts above the threshold values in accordance with Art. 49b ÖAWG. The country accepts invoices in both XML and PDF formats, with XML invoices required to comply with the European standard for electronic invoicing and contain core elements according to Art. 44a ÖAWV.
It is worth noting that Liechtenstein does not currently have an eInvoicing platform in operation, and eInvoicing has not been implemented at the sub-central level. While the eInvoicing standard is not fully implemented, a CIUS (Core Invoice Usage Specification) reflecting government VAT requirements is currently in place.
The Liechtenstein E-Invoicing Forum, an observer within the former European Multi-Stakeholder Forum on Electronic Invoicing, plays a significant role in shaping the country’s eInvoicing landscape. The forum aims to promote collaboration and knowledge-sharing among stakeholders involved in eInvoicing.
In addition to the CIUS for eInvoicing, Liechtenstein has also implemented a CIUS reflecting government VAT requirements for digital reporting. This ensures that businesses comply with the country’s tax regulations when reporting their financial transactions electronically.
Liechtenstein, known for its strong financial sector and business-friendly environment, recognizes the importance of embracing digitalization in order to enhance efficiency and streamline processes. The implementation of eInvoicing for public contracts is a step towards achieving these goals.
eInvoicing offers numerous benefits, both for the government and businesses. By adopting electronic invoicing, the government can reduce administrative burdens, improve data accuracy, and enhance transparency in public procurement processes. For businesses, eInvoicing simplifies the invoicing process, reduces costs, and enables faster payment cycles.
While Liechtenstein has made progress in implementing eInvoicing for public contracts, there is still room for further development. The absence of an eInvoicing platform and the limited implementation of the eInvoicing standard indicate that there are challenges to overcome.
To fully realize the potential of eInvoicing, Liechtenstein could consider investing in an eInvoicing platform that caters to the specific needs of the country. This would provide a centralized system for sending, receiving, and processing electronic invoices, making the overall eInvoicing process more efficient.
Furthermore, expanding the implementation of the eInvoicing standard to the sub-central level would ensure consistency and uniformity across all levels of government. This would simplify the invoicing process for businesses operating at different levels and improve interoperability.
In conclusion, Liechtenstein has taken steps towards implementing eInvoicing for public contracts, but there is still progress to be made. The country’s commitment to embracing digitalization and its active participation in forums and discussions demonstrate its willingness to adapt to the changing landscape of invoicing.
By investing in an eInvoicing platform and expanding the implementation of the eInvoicing standard, Liechtenstein can further enhance efficiency, reduce costs, and improve transparency in public procurement processes. These efforts will contribute to the country’s overall goal of fostering a business-friendly environment and promoting economic growth.