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Popular Search Terms
E-invoicing model:
  • Post Audit
Mandatory file format:
  • N/A
B2G requirements:
  • N/A
Archiving requirements:
  • 7 Year Period
E-signature:
  • Not Required

Summary

Navigating the global tax compliance landscape successfully is complex and resource-intensive. Every country has a specific and constantly evolving set of legislated e-invoicing requirements.

Non-compliance, intentional or not, can result in significant financial penalties, business disruption, and reputational damage.

Compliance is complicated

Want to learn more about how Tungsten Network makes the process of staying compliant easier?

Find out more

Updates

07.18.23

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  • Country updates
Business Payment Coalition (BPC) update – Remittance Delivery Validation Report If e-invoicing developments in the European Union are taking pace, equally significant developments in the US are also shaping the e-invoicing curvature in the country.   The Business Payments Coalition (BPC) has announced that the Remittance Delivery Work Group recently completed a validation phase where the group successfully demonstrated the operational feasibility of an exchange framework to deliver electronic remittance (e-remittance) information.  Given the success of the validation phase, the working group is now logically touting moving to a pilot phase, supporting all electronic B2B payment methods. Consequently, the BPC, with support from the Federal Reserve, will soon proceed with facilitating an E-remittance Exchange Pilot.   The following article will provide greater insights into the operations of the validation phase and the overall aims associated with the proposed pilot:   https://fedpaymentsimprovement.org/news/blog/exchange-framework-validated-for-e-remittance-information/?utm_source=bpc_internal_email&utm_medium=email&utm_campaign=exchange_framework_validated_for_eremittance_information  The pilot represents an exciting development for the BPC, and more widely for the exchange of electronic B2B payments in the US. Kofax is closely following developments in respect of the pilot and will keep you informed of the same. 

06.27.23

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  • Country updates
The United States of America may appear to have a muted involvement in the e-invoicing circuit when compared to its European counterparts, but recent developments indicate that this is set to change.   The Business Payments Coalition (BPC) E-invoice Exchange Market Pilot has created a new entity, the Digital Business Networks Alliance (DBNAlliance), which is intended to provide support for B2B payments. This new legal entity holds an overseeing role for the electronic exchange framework. The network intends to provide businesses with a solution for the invoice exchange and to transfer e-documents securely. To aid businesses, they have set out e-invoicing standards and policies to safely exchange e-invoices in the B2B framework. Currently, there are no strict compliance obligations with regards to mandatory invoice content in the US, and so the DBNA is, in many respects, viewed as progressive body which aims to re-define the direction of e-invoicing in the US and align it with many of its global counterparts.     The BPC will focus on the improvement of the B2B payments and their modernization and will launch the E-remittance Exchange Pilot in the near future, together with the Federal Reserve to help foster further growth of e-invoicing in the country.    Kofax is pleased to confirm that it is on the interim board of the DBNA, staying very close to e-invoicing developments as they advance in the US, with a view to also considering how this can benefit our US market.      

11.12.21

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  • Country updates
New Industry Efforts to Propel B2B Payments Toward Modernization

The Federal Reserve and the Business Payment Coalition (BPC) recently announced that 73 organizations will work together to develop an industrial pilot operational exchange framework that will enable companies to share electronic invoices.
The E-invoice Exchange Market Pilot and the Remittance Delivery Assessment Work Group aim to modernise B2B payments resulting in faster timeframes. Advantages of this modernisation include lower costs, better cash management, error reduction, risk mitigation, increased transparency and improved efficiency.

06.03.21

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  • Country updates
Market Pilot Working Group building & testing a virtual network for the exchange of e-invoices

The Business Payments Coalition, with support from the Federal Reserve, will begin recruiting for a Market Pilot Work Group. This group will build and test a virtual network that will enable businesses to exchange e-invoices. Interested stakeholders will be needed to develop and test the open-source tools and access points to be used in the pilot.

10.06.20

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  • Mandate information
USA explores the possibilities for standardised e-invoicing

The American Business Payments Coalition (BPC) is leading a 3-year effort to explore the feasibility of developing and implementing a standard framework for ubiquitous B2B electronic invoicing for the US market.

Read more. 

08.31.15

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  • Country updates
United States mandates B2G e-invoicing

United States federal agencies are expected to adopt electronic invoicing for B2G procurement by the end of fiscal year 2018.