On September 26-28, 2022, over 200 international E-Invoicing and E-Reporting experts convened in the beautiful city of Lisbon at the E-Invoicing Exchange Summit. Participants came from large multinational corporates, tax authorities and solution providers. It was the first larger get-together after 3 years of C-19 restricted meetings. But this time with participants from Canada, the US, Malaysia, Japan, Singapore, Egypt, and many European countries one finally could breathe the air of a truly global networking again.
E-Invoicing – the new talk of the town
And how the topics have shifted and become mature in the meantime! With the lots of government mandates for E-Invoicing and E-Reporting obligations, IT and process challenges are now being accompanied by VAT challenges to become and stay compliant.
Centralized or decentralized?
That is the question. Although there are different models for E-Invoicing and E-Reporting in place, it is expected that the common framework for the European model will be built on a decentralized approach that allow businesses and countries for enough playfield and time to build an truly interoperable system that satisfies the needs of national tax authorities to close the VAT gap, as well satisfies the needs of corporates to grow in their cross border business without having to face new bureaucratic hurdles. And maybe it will result in more values added for the economies by providing aggregated real-time data, prefilled tax declarations and more…!
Yes, this definitely is THE model that is very likely to become reality in Europe and will be on the forefront of discussions over the next years: A Decentralized Continuous Transaction Controls and Exchange model. A model so promising to be beneficial for all stakeholders and that counts already now on broad support.
Markets have entered a new level in the adoption of E-Invoicing. And with a lot of work already been made, the often-heard lemma was: Let’s be pragmatic and not re-invent the wheel!
The journey continues
The next E-Invoicing Exchange Summit will be held in Singapore on December 7 and 8, 2022. Participants may expect in-depth information about recent developments and future trends in the field of E-Invoicing with a focus on APAC countries. Moreover, they will get in personal contact with leading experts from governments and industries to expand their network.
More information on the E-Invoicing Exchange Summit: www.exchange-summit.com
Keywords:E-Invoicing, E-Reporting, E-Billing, Digitalization, Exchange Summit, tax, IT, VAT, DCTCE, Continuous Transaction Controls, CTCs