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News

Australia establishes Commonwealth e-invoicing deadline

Friday 2 October 2020 13:17 CET | News

The Australian government has announced a AUD 3.6 million push to make electronic invoicing mandatory for all Australia's Commonwealth agencies by July 1, 2022. 

The Australian officials also plan to consult on options for mandatory adoption of e-invoicing by businesses. The announcement is included in an AUD 800 million Digital Business Plan that was revealed in September 2020. Like Singapore and New Zealand, Australia is following the Peppol e-invoicing standard to allow invoice exchange directly between different accounting systems via approved access points.

The specifics of how the AUD 3.6 million is being distributed have not been revealed. The Singapore government provided subsidies to businesses to offset their costs in connecting to Peppol Access Points. Costs for business to engage in Peppol e-invoicing vary based on volumes, file formats, and connection protocols, according to idm.net.au.

Source: Link


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Keywords: Australia, Commonwealth, e-invoicing, government, electronic invoicing, Digital Business Plan, Singapore, New Zealand, PEPPOL, e-invoicing standard, invoice exchange, accounting systems, approved access points, Singapore Government, PEPPOL Access Points
Categories: Banking & Fintech
Companies:
Countries: Australia
This article is part of category

Banking & Fintech

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