Belgium - NL
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On December 28, 2023, the Belgian government introduced a draft law to amend the VAT Code. Specifically, electronic invoicing or e-invoicing (also known as "e-invoicing") will become mandatory from Jan. 1, 2026. But what exactly is e-invoicing and why is the government making it mandatory?
An e-invoice, short for electronic invoice, is a digital version of a traditional invoice. E-invoices are created, sent and processed in structured electronic format, often using standardized formats and technologies to enable seamless communication between businesses. An e-invoice in structured format, for example, is a piece of computer code that is instantly readable by special accounting programs. Note that a PDF is a digital invoice, but not an e-invoice because it is not a "structured format.
The bill lists many benefits of e-invoicing for businesses; faster payments, lower printing and postage costs, cheaper and faster invoice processing, and more secure.
Research by the Office for Administrative Simplification shows that the introduction of e-invoicing could save companies in Belgium more than 3.6 billion euros.
Another important reason for the mandatory introduction of e-invoicing is that it allows the government to check invoices faster. This will lead to less VAT fraud.
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The smartest way to receive, process and pay inbound invoices, generate and send outbound invoices, get paid and maintain a complete overview.
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