EU Approval of E-Invoicing Rules
The European Parliament accepted the European Commission’s January proposal to adopt EU rules on e-invoicing in public procurement.
Benefits for Enterprises and Public Authorities
The 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.
Establishing a European E-Invoicing Standard
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.
Economic and Environmental Impact of E-Invoicing
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.
