Bills and receipts have been issued since the invention of writing and are intended to provide both issuers and recipients with a degree of legal certainty regarding services and payments. In addition to traditional paper-based invoices, there are now electronically generated invoices, which are mandatory for authorities across the EU.
What is e-invoicing and what are its benefits?
E-invoices, or electronically generated invoices, are documents that replace traditional paper invoices and offer many benefits at the same time.
The biggest advantage of electronic invoices that can be sent via email is that they save resources such as paper, postage, and time. Therefore, there is no need to keep traditional paper archives and you can search for a single invoice in your own electronic system with just a few clicks. EU member states have now agreed on the similarities between traditional paper invoices and electronic invoices. This means that all legal aspects apply to both formats.
From November 27, 2020, electronic invoicing will be required by law.
Directive 2014/55/EU standardizes electronic invoices from contracting authorities and requires all public administrations in Member States to receive and process electronic invoices. A structured electronic format should form the basis of the electronic invoice and should include information on:
Buyer/seller and seller's tax agent Billing period Invoice identifier Payee and payment terms Delivery or service details Additional charges or discounts on individual items VAT declaration
EU member states are responsible for developing standards for electronic invoicing. Until now, PDF files have been commonly accepted as electronic invoices, but this data cannot be processed automatically.
Translation for public institutions
Regarding e-invoicing, there is a need for uniform standards for invoicing for public institutions within EU countries. We are the service provider for translations related to electronic invoicing. Our professional translators translate standard e-invoice clauses in many languages and can also act as your point of contact for contract and certified translations. Please contact us for a non-binding offer. We will contact you as soon as possible.
