As governments across Europe are turning to electronic invoicing and reporting to combat tax evasion, tax authorities are moving towards a 360-degrees real-time view of business operations.
The Belgian Parliament has already approved the Electronic Invoicing law, confirming its effective date for all businesses on January 1, 2026. E-reporting is expected to follow, as part of the European Commission’s VAT in the Digital Age (ViDA) initiative.
The transition to e-invoicing and e-reporting is a substantial and lengthy process. Once a country has issued the mandate, businesses will never find a grace period long enough to achieve the required transformation. The transformation to e-invoicing and e-reporting will have a far-reaching impact across multiple departments, including:
Preparing for the change associated with the transition to e-invoicing and e-reporting must become a priority for financial services firms and corporates.