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Protecting the vault
Key points
- Companies that operate worldwide must ensure their invoicing processes are compliant wherever they do business.
- Maintain documentary evidence to show a business’s e-archiving system is compliant.
- Greater transparency makes audits more cost effective.
Tax authorities across the world are undergoing a digital overhaul. Electronic invoicing in particular has become widely adopted since it was introduced in law in the EU in 2001. But as different tax authorities implement their own specific regulations companies that operate internationally are under growing pressure to ensure their invoicing and reporting processes are compliant in every country in which they do business.
Regulations on electronic archiving are subject to just as many nuances as the laws of e-invoicing and can be equally important – especially when it comes to auditing. Often though...
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