As the adoption and implementation of e-invoicing continues to gain momentum globally, and with the green light having been given to the EU VAT in the Digital Age (ViDA) package in early November 2024, now is the time for businesses to start preparing for these changes. This article briefly outlines how e-invoicing aligns with the ViDA initiative, before delving into the fundamentals of e-invoicing, clarifying what it entails and what it does not. It then explores the reasons behind tax authorities’ push for e-invoicing, the various implementation strategies adopted across jurisdictions and what businesses can do now to prepare for future compliance.
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