Archive for Legal

Consultation: Should UK companies provide payment, e-invoicing details?

December 8, 2014  |  Adoption, Europe, Government, Legal, Payment

Now this is an interesting news release on the website of Supply Management. It states that the UK Goverment is asking for views on our proposals to make companies report on their payment performance to help create responsible payment practices. The idea behind the consultation is to know if the UK Goverment should ask companies to report on a series of measurements that will tell them about several payment performance indicators.

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eFinans acquires e-archive license, first step in Turkish B2C e-invoices

eFinans acquires e-archive license, first step in Turkish B2C e-invoices

September 24, 2014  |  Asia, Compliance, Electronic Invoicing, Legal

eFinans has recently acquired its license to become one of the few Turkish e-Archive solution providers. The e-Archive system facilitates the forming, safekeeping, legal presentation and reporting of all B2C and B2B invoices in electronic format.
The system is mandatory as of 1 January 2016 for firms making online sales in Turkey which have a gross sales of-over- 5 million Turkish Lire (1,745 million Euro / 2,234 million US Dollar) in 2014.

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The EU has new legislation on e-signatures and trust services

September 15, 2014  |  Digitalisation, Europe, Legal

It (1) lays down conditions for mutual recognition of electronic identification, (2) sets rules for trust services, in particular for electronic transactions, (3) creates a legal framework for electronic signatures, seals and time stamps, electronic documents and (4) deals with electronic registered delivery services and certificate services for website authentication.

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Italy publishes clarifications on their e-invoicing regulations

August 18, 2014  |  Compliance, Electronic Invoicing, Europe, Legal

Circular 18/E of June 24, 2014 contains important clarifications and some simplifications to the electronic invoicing procedure. In particular, the Italian Revenue Agency has defined the concept of “business control” for the first time: a system to guarantee the main requirements of the authenticity, integrity and legibility of an electronic invoice.

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Germany releases exhaustive B2G e-invoicing implementation guidelines

On May 26, 2014 European directive on electronic invoicing in e-procurement came into force. The new directive makes it mandatory for public authorities to receive and process electronic invoices in public procurement.
This guide is intended to provide a sound basis for the measures necessary to implement the Directive. It is a comprehensive compendium on the use of electronic invoicing in public procurement.

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Ground breaking! New Spanish law FORBIDS forced B2C e-billing

Ground breaking! New Spanish law FORBIDS forced B2C e-billing

On 13 June 2014 new Spanish legislation came into force. Under the Act, the paper should be the default option for all consumers' bills. Switching to e-billing requires express consent. Any consumer freely revoke its consent and re-receive paper bills. And companies can't charge for paper bills. To activate this legislation a nation wide new initiative was launched, called 'Yo Decido Como Recibo': I decide how I receive. All in all, ground breaking.

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New EU e-invoicing Directive just “scratching the surface”. And failing to deliver [column]

New EU e-invoicing Directive just “scratching the surface”. And failing to deliver [column]

In my opinion, the Directive fails to address key issues, without which it will be impossible to achieve real financial and environmental gains for Europe and the business community that serves it.
Whilst I would always welcome all efforts to encourage the use of e-invoicing, in my view this Directive just scratches the surface and leaves many unanswered questions. My fear is that it will actually serve to delay the full economic benefits of e-invoicing, which would make €2.3 billion look like small change.

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Late Payments Directive, all bark and no bite?

Late Payments Directive, all bark and no bite?

April 23, 2014  |  Europe, Legal, Payment

In 2013 the European Late Payment Directive came into effect. It allows EU companies to maximise their payments period to 30 days. Only with mutual consent can contracting parties increase the payment period to a maximum of 60 days.
Sounds nice. But in the B2B and B2SME sectors the Late Payments Directive seems to be all bark and no bite. What is going here?

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Mexico, world class model in electronic invoicing [event announcement]

First international electronic tax and invoice forumIn July 2014, after a decade of using electronic invoicing in Mexico, AMEXIPAC will host the First International Tax and Invoice Forum, where European and Latin American service providers, together with companies related to the field will be invited.

The announcement comes shortly before news came out that the number of issuers of electronic bills increased by 250 percent in the first two months of the year compared with the total of 2013. This is the result of the Mexican mandate that taxpayers with annual incomes up to 500 thousand pesos have to use e-invoices.

About the the First International Tax and Invoice Forum

With the use of electronic invoicing countries have seen remarkable advances in greater efficiency in the collection of taxes and auditing tasks. For taxpayers, it has resulted in safety benefits for their business transactions, administrative efficiency and significant savings by reducing human intervention in the process of payments to suppliers and delivery to customers.

This high-level meeting will be open to the exchange of ideas on best practices, experiences and opportunities of developing models that link technology to the management of electronic tax receipts. It is expected to have the assistance of representatives from nearly 50 countries and about 100 Mexican class companies, users of electronic invoicing.

Javier Vega Flores AMEXIPAC´s President:
“After 10 years’ experience of electronic invoicing, Mexico has managed to position itself as one of the most important cases of global success. We are pleased to invite colleagues from around the world to promote dialogue and feedback that will allow us to learn from the experiences of others, and share our progress.”

The Belgian VAT authorities publish new rules on e-invoicing

Shortly after the UK announced the new rules on einvoicing, the Belgian VAT authorities issued Circular Letter 14/2014 of April 4, 2014. And it won't come as a surprise that this new einvoicing rules neatly follow the EU Directive. So, the letter provides comments regarding the conditions of e-invoicing and guidelines regarding the implementation of e-invoicing and archiving.

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