Spain: B2G e-invoicing to become mandatory starting 2015

Tuesday 17 June 2014 10:24 CET | News

Public sector or ‘business to government’ (B2G) e-invoicing is set to become mandatory throughout Spain starting January 15th 2015.

After this date, all invoices are required to be submitted and transmitted electronically through a general entry point which has been designed to record copies and details of all data such as the dates of submission. This will ensure that in the event of issues such as late-payment by public sector entities, corresponding interests will still be paid.

The initiative is set to streamline the invoicing process and secure savings of around EUR 3.48 per invoice issued, with invoice processing times estimated to be cut down by up to 80% and annual savings to reach around EUR 52.5 million.

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Keywords: Spain, B2G e-invoicing, e-invoicing, mandatory e-invoicing, business to government, public sector
Categories: Banking & Fintech
Countries: World
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