Brussels, 21/11/2008 (Agence Europe) - Experts from a high level EU group on cutting red tape published a report at the end of October 2008 recommending that the European Commission unveil ambitious draft legislation on e-invoicing (see EUROPE 9670). Announced by the European Commission in its Small Business Act, draft legislation is expected to be unveiled in December 2008 to scrap 'pointless rules' and 'allow companies across Europe to make the most of potential savings by using e-invoicing and e-archiving'.
As the experts see it, the approach to guide the changes to the Directive 2006/112/EC on the EU value added tax system (VAT) should be to ensure that paper and e-invoices are treated equally while encouraging companies to issue e-invoices. The group also recommends that the situation of small companies is considered if the European Commission decides to include the following in its draft legislation: a) deadlines for the issuing of e-invoices and b) a harmonised cap below which simplified invoices can still be used. (M.B. trans fl)