From January 1, 2025, all companies in Germany must be able to receive e-invoices. This is part of the digital transformation of the economy. From 2028, the obligation to issue e-invoices in the B2B sector will follow. Background:
- The EU Commission is planning a “ViDA” initiative for mandatory e-invoicing from 2030
- Goal: Curbing sales tax fraud
- Formats such as ZUGFeRD and XRechnung meet the new EU standard
Effects:
- Companies must be able to receive e-invoices
- No claims for alternative invoice formats
- Exceptions for certain tax-free sales and small-value invoices
Opportunities and challenges:
- Automated processing in accounting software
- Investments in tools and archiving systems necessary
- Potential for increasing efficiency and further digitalization
Need for action:
- Preparation for receiving and processing e-invoices
- Planning investments for the exhibition from 2028
- Focus on cost-effective implementation and data security
The e-invoicing requirement offers opportunities for modernization, but represents a challenge, especially for SMEs. A successful changeover can advance the digitalization of the German economy.
You can find even more detailed information on the topic here.
What are the key benefits of e-invoicing for small businesses in Germany?
Exciting news about the upcoming e-invoicing requirement in Germany! I’m delighted to have you both on the show today to discuss this important development. Let’s start by talking about the role of the EU Commission and their “ViDA” initiative. Guest 1, can you share more about how this initiative will impact Germany and the wider European economy?
Guest 2, as a representative from the small business sector, we’d like to hear your thoughts on the challenges and opportunities this presents for you. Can you elaborate on how your company is preparing for the changeover to e-invoicing, and what you see as the potential benefits and drawbacks of this transition?
Turning now to the technical aspects, it seems like there are multiple formats that could be used for e-invoicing. Guest 1, can you explain the difference between ZUGFeRD and XRechnung, and which format you believe is more suitable for complying with the new EU standard?
Guest 2, how do you envision the implementation of e-invoicing affecting your day-to-day business operations? What investments do you foresee needing to make to ensure smooth processing of these electronic invoices?
Lastly, let’s touch on data security and privacy concerns. Guest 1, can you provide some insights on how Germany plans to address these concerns in their e-invoicing system? Guest 2, how important do you think data security is when it comes to adopting e-invoicing, and what measures is your company taking to safeguard sensitive information?
Thank you both for joining us today. This has been an informative discussion on the upcoming e-invoicing requirement in Germany and its potential impact on businesses and the economy as a whole.
