What is e-reporting?
In countries where EDI is already widely used, especially by multinationals in the B2B sectors, the implementation of mandatory eInvoicing was not an easy step to take.
Some governments therefore opted for a solution that would not disrupt B2B electronic invoicing without intermediation.
How does e-reporting work?
Usually this model requires the use of a specific platform to validate electronic invoices before reporting the data to the government.
In this way, the supplier and buyer are able to complete the eInvoicing process without intermediation and only have to provide the relevant data required by the country’s tax administration in a prescribed format.
It is called e-reporting because the company sends a report showing the relevant data of the invoice to the government informing it of the transaction and the related VAT trigger.
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