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The European Parliament accepted the European Commission’s January proposal to adopt EU rules on e-invoicing in public procurement. 

SA1 - Global Banking | FinanceThe approval of this agreement will bring enterprises and public authorities in Europe a step closer to enjoying diverse benefits, including the following:

  • Elimination of barriers to cross-border public procurement by ensuring interoperability between national e-invoicing systems;
  • Faster payments and new business opportunities for suppliers;
  • Reduction of cost and complexity of public procurement in Europe.

It is essential now to create a new European standard for electronic invoicing (‘e-invoicing’), so that when an e-invoice sent by a company is compliant with this standard, it will ultimately be accepted by all public authorities throughout Europe.

E-invoicing is an important step towards a paperless public administration in Europe offering the potential for significant economic as well as environmental benefits. The adoption of e-invoicing across the EU could generate savings of up to €2.3 billion a year.

“Supporting modern and efficient public administration in the EU and strengthening the Single Market are key priorities for the European Commission,” Internal Market and Services Commissioner Michel Barnier commented.

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