E-invoicing saves 100,000 trees and USD 293 mln in Turkey

Wednesday 5 November 2014 10:36 CET | News

The electronic billing system has saved TRY 650 million (around USD 293 million) of extra costs and prevented 100,000 trees from being cut, Finance Minister Mehmet Simsek has unveiled.

According to the Turkish Finance Minister, the electronic invoicing system, which has been implemented in Turkey since 2010, has reduced costs for the taxpayers, marked an important step in curbing illegal financial activities and contributed to preserving the environment by reducing the need for paper.

Mehmet Simsek expects the number of taxpayers using e-invoicing, which was approximately 20,000 as of October 31, 2014, to double after the full implementation of the e-archive system, set for December 30, 2014. Taxpayers that obtain e-archive permission from the Revenue Administration will be able to store invoices electronically.

Simsek said the goal was to reach 100,000 users within two years, after all public institutions enforce taxpayers in the responsible sectors to use e-bills, adding the government aims to save around TRY 2 billion (approximately USD 894 million) from the electronic billing system.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: e-invoicing, Turkey, trees, electronic billing, Finance Minister, Mehmet Simsek, electronic, invoicing, system, e-Archive, Revenue Administration
Categories: Banking & Fintech
Countries: World
This article is part of category

Banking & Fintech

Industry Events