Roadmap to electronic invoicing (TT Sept03 p38-39)

Electronic invoicing will soon be a reality in Europe: The Council Directive 2001/115/EC, introduced by the European Commission (EC), will deliver a single, simplified set of rules on invoicing valid across the European Union (EU). It replaces 15 individual sets of legislation and creates the legal framework for cross-border electronic transmission and storage of invoices. The 15 EU Member States are required to implement this directive into their legal framework by 1 January 2004.