An increasing number of EU member
states are obliging their companies to be able to receive invoices in a
structured electronic format (often according to the EN16931 standard invoice).
Use the Odette Invoice Viewer
& Converter if you need to accept UBL and CII invoices from your business
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The European automotive industry fully recognises the benefits to be gained from eInvoicing. After all, we have been doing it for the past 40 years! We also recognise the desire of EU tax authorities to introduce a single eInvoicing standard in an attempt to close the so-called ‘VAT Gap’ but we must strive to ensure that current, well established automotive eInvoicing practices continue to be accepted. We are pleased to report that progress is being made on this front.
The EU ViDA legislation is fast approaching and the non-alignment of the proposed legislation with current automotive industry practices would undoubtedly generate significant costs for all actors of the automotive supply chain. Odette is therefore working with CEN (European Committee for Standardisation) to integrate automotive requirements in the legislation and to protect 40 years of successful experience with B2B invoicing via EDI.
After 40 years of successful experience with electronic invoicing via EDI (mainly using EDIFACT standards), the automotive industry in Europe is approaching a critical juncture with the advent of the EU ViDA Directive.
The automotive industry was in the vanguard of the einvoicing movement and has been exchanging invoices and other financial documents using structured digital messages for more than 40 years. But are our long-established procedures and standards now under threat from governments and tax administrations across the world looking to intervene in the einvoicing process in an attempt to reduce tax fraud and close the VAT gap?
