E-Invoicing Solutions
Acumen Allies is a trusted IT company specializing in providing comprehensive e-invoicing solutions that align with EU laws and regulations. We understand the complexities and evolving nature of e-invoicing requirements in the European Union, and we are committed to helping businesses navigate this landscape effectively. Here are some key details about Acumen Allies and our e-invoicing services:
An electronic invoice is an invoice that has been issued, transmitted, and received in a structured data format which allows for its automatic and electronic processing. A structured electronic invoice contains data from the supplier in a machine-readable format, that can be automatically imported into the buyer's system avoiding manual entering.
Timeline of Mandatory B2B E-Invoicing in Europe
Italy: Implemented in 2019
Hungary: Implemented on January 1, 2021
Albania: Implemented on 1 July 2021
Serbia: Implemented on January 1, 2023
Romania: Planned implementation on January 1, 2024
Poland: Planned implementation on July 1, 2024
North Macedonia: Planned implementation in 2024
Belgium & France: Phased implementation starting on July 1, 2024, until July 1, 2026
Spain: Phased implementation starting in summer 2024, until summer 2025
Latvia: Planned implementation in January 2025
Croatia, Slovakia and Slovenia: Predicted implementation in 2025
Montenegro: Phased implementation from 2025-2026
Germany: Planned implementation 1 January 2026
In Germany, the implementation of mandatory B2B e-invoicing legislation has been included in the Growth Opportunities Act (Wachstumschancengesetz). This law was initially passed in the German Parliament (Bundestag) on 17 November 2023.
Components of e-invoicing
According to EU law, the components of e-invoicing should adhere to the requirements outlined in Directive 2014/55/EU. The directive sets a common standard for the content and format of electronic invoices in the European Union. While the specific requirements may vary slightly between EU member states, the key components of e-invoicing as per EU law include:
Invoice Number: Each e-invoice should have a unique identifier, such as an invoice number or a reference code, to ensure proper identification and tracking.
Supplier and Customer Information: The e-invoice should include the complete legal name, address, and tax identification number (VAT number) of the supplier (seller) and the customer (buyer).
Invoice Date: The date when the invoice is issued should be clearly stated in the e-invoice.
Description of Goods or Services: A detailed description of the goods or services provided should be included in the e-invoice, along with the quantity, unit price, and applicable tax rates.
Total Amount and Currency: The total amount payable by the customer, including any applicable taxes, should be clearly stated in the e-invoice. The currency in which the invoice is issued should also be specified.
VAT Information: If the transaction is subject to Value Added Tax (VAT), the e-invoice should include the necessary VAT details, such as the VAT rate, the tax amount, and any exemptions or special VAT treatment.
Legal and Compliance Information: E-invoices should include any legally required statements or information specific to the country or region where the transaction takes place. This may include compliance with local tax regulations, reference to applicable laws, or specific invoicing requirements.
Integrity and Authenticity: E-invoices should maintain their integrity and authenticity throughout the electronic transmission process. This may involve the use of electronic signatures, audit trails, or other methods of ensuring the invoice's authenticity and preventing tampering.
Expertise in EU E-Invoicing Regulations
Customized E-Invoicing Solutions
Compliance with EU E-Invoicing Standards:
Data Security and Integrity
Ongoing Support and Guidance
Scalable and Future-Proof Solutions