TrustWeaver, a leading provider of Cloud-based trust and compliance services for invoices and other legally critical electronic documents, today published the 2016 edition of its acclaimed white paper on international trends in tax-compliant e-invoicing.
The report features a summary of the regulatory status in some 90 countries, as well as an in-depth analysis of the ways tax authorities around the world use e-invoices to increase collection rates.
The white paper describes how governments have in the past years increasingly adopted regulation that forces enterprises to share invoices electronically with them in real-time. Such ‘clearance’ methods are particularly popular in emerging economies, but their vast contribution to closing the so-called ‘value-added-tax gap’ (or ‘VAT gap’ – a percentage that expresses which portion of VAT that should be collected ends up not being collected in a country) is motivating a growing number of developed countries in Europe and other regions to adopt similar approaches.
Because governments not only impose their own data standards and authentication methods but also use the law to redefine other business documents –such as delivery notes– for ‘clearance’ purposes, TrustWeaver’s experts predict that this trend is about to massively transform the business-to-business automation processes that have been developed over the past thirty years.
E-invoicing Compliance Topics
Among other topics, the white paper provides a useful categorization of e-invoice compliance topics and helpful advice that international enterprises can use to develop a strategy to deal with these intrusive government systems without losing competitiveness.
TrustWeaver also notes that these trends in e-government are compounded by the introduction of Cloud-based e-business networks whose standardized procurement and sales processes cannot easily be customized to meet the compliance needs of their millions of connected enterprises.
TrustWeaver says that such e-business vendors will increasingly be expected to make compliance an integral part of their service offerings. The 2016 edition of the TrustWeaver white paper is available upon request from http://www.trustweaver.com/knowledge.
TrustWeaver (www.trustweaver.com) provides a comprehensive Cloud-based compliance service for electronic invoicing and other legally critical documents for more than 55 countries.
From a single technical interface and through our unique Compliance Map concept, more than 60 world-leading B2B integration brokerage vendors in our partner network automatically provide interoperable legal certainty to trading partners that use their solutions, regardless of changes in legislation.
TrustWeaver’s unique blend of legal and technical components allows modern organizations to execute their ERP, workflow, archiving and B2B consolidation strategies with guaranteed respect for the multiple national and sectoral laws governing such transactions as well as their long-term retention and auditability.
In business since 2001, TrustWeaver is headquartered in Stockholm, Sweden.
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