Global e-invoicing and e-reporting rules are changing at lightning speed
Multiple global and local trends are impacting the current ITX landscape and are challenging businesses to adapt existing ITX procedures and solutions.
Indeed, globally we are seeing a strong push towards electronic compliance obligations. These obligations imposed by tax authorities around the globe have more than tripled over a very short period of time.
Yet, the pace of change keeps accelerating with new mandatory electronic invoicing and electronic reporting obligations on the horizon in many countries, including some of the largest EU economies.
Businesses wish to evaluate how they will monitor their current & future obligations as well as how they respond and update their various systems and processes in a timely manner to ensure these remain legally compliant.
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Get back in control with PwC’s Electronic Compliance Radar
Data on 100+ countries
Via Electronic Compliance Radar you can obtain access to a single repository with information on relevant obligations in more than 100 countries. Electronic Compliance Radar enables you to be at the forefront of changes as PwC continuously monitors existing and upcoming obligations and updates the information included in Electronic Compliance Radar when changes are spotted. The information included in Electronic Compliance Radar is sourced directly from the local authorities and/or the PwC Network, enabling a high level of data quality.
Weekly updates
Electronic Compliance Radar is updated weekly with the latest news in the field of e-invoicing and e-reporting (the updates are also shared by email). Via these updates you will be able to leverage the unmatched knowledge of PwC Centre of Excellence on e-invoicing & e-reporting and get access a wealth of additional information on relevant changes, as well as direct links to (government) resources (where available). Electronic Compliance Radar also offers user friendly search and filter options, making it easy to retrieve the information you need.
Impact identification
Electronic Compliance Radar can help you identify the impact on your business of current and future e-invoicing and e-reporting obligations. For this Electronic Compliance Radar is fuelled by your own business data submitted via an Excel based information request. To limit the data collection effort required, the solution only needs a small set of ‘must have’ information. Subsequently Electronic Compliance Radar analysis the data and generates a visual and clear overview of the impact of the obligations on your business as well as a tailored roadmap for upcoming obligations.
Insights from the lead global advisor
Via Electronic Compliance Radar insights can be obtained directly from the leading global advisor on e-invoicing and e-reporting, with more than 20 years of experience in this domain. Depending on the service offering selected, a session is included to run through the tailored impact identification and answer any further questions on impact/scope of obligations and the technological solutions available
Electronic Compliance Radar - FAQs
- What obligations are captured/analysed by the Electronic Compliance Radar?
- What are the benefits for tax, finance and IT professionals when using the PwC Electronic Compliance Radar?
- What data should be shared in order to enable PwC to create your personalised Electronic Compliance Radar?
- Which levels of support/subscription packages are available?
What obligations are captured/analysed by the Electronic Compliance Radar?
- Mandatory e-invoicing obligations: Requirements under which taxpayers are obliged to exchange invoices/transactional data electronically, using a pre-defined format and/or requiring the invoices to be exchanged via a (government-run) platform. The platform will approve the invoice before the next business processing step can take place.
- (Close to) real-time obligations: Requirements under which incoming and/or outgoing transactional data must be reported to the tax authorities in a (near) real-time frame, usually within a few working days, in a pre-defined format. The taxpayer’s data is sent to the tax authorities and does not necessarily return any approval messages back to the platform. There are no dependencies in the underlying business process (no need to receive approval/rejection messages before the next business processing step can take place).
- (On request) e-audit obligations: Requirements whereby a taxable person should be able to extract and present accounting data in a pre-defined format upon request of the tax authorities (e.g. SAF-T reporting, and other data-export functionalities for audit purposes).
What are the benefits for tax, finance and IT professionals when using the PwC Electronic Compliance Radar?
- Identify impact on your global business and IT systems.
- Determine action plan and allocate resources in a timely way to deal with unprecedented changes.
- Update various systems and processes to ensure regulatory compliance and avoid penalties.
- Obtain insights from the leading global advisor on e-invoicing and e-reporting.
- And many more...
What data should be shared in order to enable PwC to create your personalised Electronic Compliance Radar?
- Countries where you do business;
- Customer channels (B2B, B2C or B2G);
- Information on your local establishments with regard to tax registrations, and;
- Revenue (the relevant revenue per customer segment).
Which levels of support/subscription packages are available?
You can benefit from Electronic Compliance Radar either via a one-off assessment or obtain direct access to the solution via one of the subscription packages (Basic (i.e. Europe only), Standard, Premium or Custom). The views made available will depend on the support/subscription level chosen.
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