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Cyprus public sector moves towards e-invoicing

Thursday 4 April 2019 09:33 CET | News

The Cyprus Council of Ministers has approved the bill on the harmonisation with the Directive 2014/55/ EU on mandating e-invoicing in the public sector.

The directive was issued back in 2014 but its harmonisation with the Republic of Cyprus will only take place now since the implementation deadline is 18 April 2019. The purpose of the draft bill is to transfer the provisions of Directive 2014/55/ EU of April 16, 2014 of the European Parliament and of the Commission into national law so that electronic invoices will be able to flow seamlessly across the EU. The main objective of this is to facilitate the adoption of e-invoicing by enabling economic operators to submit electronic invoices to central government authorities.

As also stated in the explanatory report, member states may postpone the application of this Directive to non-central contracting authorities and entities until April 2020. This is in order to facilitate the implementation of the e-invoicing system by certain local and regional contracting authorities, as well as public-law organisations.

In the absence of a common e-invoice standard at European level, the EU has developed a common European template for the core data model of e-invoicing in order to eliminate barriers to cross-border transactions due to different legal requirements and technical standards.


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Keywords: Cyprus, e-invoicing, Directive 2014/55/ EU, mandatory e-invoicing, electronic invoice, European Union, public sector, Europe, European Parliament, e-invoicing regulation
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Countries: World