At the beginning of October, we had a date in Dublin at the E-invoicing Exchange Summit, the most relevant event in the area of Electronic Invoicing in Europe.
The event brought together all stakeholders involved in e-Invoicing: authorities, legislators, companies from different sectors and the main e-Invoice providers who shared their vision on the current framework of e-Invoicing in Europe and discussed how to comply with the increasing market regulations.
With almost 300 participants, the E-Invoicing Exchange Summit has been the perfect opportunity to establish new relationships with the principal parties involved.
Throughout the event, we were able to participate in discussions, round tables and conferences which dealt with very diverse subjects. However, the most prominent protagonist of the summit was Project ViDA (VAT in Digital Age), the initiative of the European Union whose objective is to harmonize the VAT declarations of all member states in order to effectively control the commercial movements of companies. The forecasted implementation date of Project ViDA is 2028.
To close the summit, the artist Christian Ridder painted the “Big picture of E-Invoicing”* (a general panorama of the Electronic Invoice) which reflects the main issues dealt with during the three-day summit.
*Copyright E-Invoicing Exchange Summit: www.exchange-summit.com
Lessons in the summit
These valuable days have helped us to reaffirm what we envisioned: the tax sector is at a crucial moment in its European development. In the next 5 years, the industry related to taxes and digitalization will have to reach agreements of great significance to offer attractive and effective solutions for all citizens of the European Union.
In this new scenario, e-Invoice solution providers in Europe will have to somehow foresee the immediate incorporation of the tax declaration in each European country. The challenge is great if we consider that Europe has not yet been able to agree on formats and interoperability between countries for the Electronic Invoice. However, it seems that the authorities of the member countries of the Union are very interested in an automatic and immediate tax declaration, which makes us think that there will be important advances in the next few years.
The Big Picture of E-Invoicing is available for free download: https://www.exchange-summit.com/insights/graphic-recording