Embed Size (px)
Citation preview
E-‐Invoicing – A Global Perspective
Highways SchoolsDefense Hospitals
Why VAT is critical to public finance
Value-‐Added Tax (VAT) 30-‐50%
VAT Gap examples: EU 20% (193 billion €) -‐-‐-‐ LATAM 10-‐30%
Invoice Controls for VAT – main categories
Prepare Ex ante
Process Clearance
Archive Ex post
Invoice Controls – regional analysis
USA
ASIA (-‐TURKEY)
LATAM (-‐BRAZIL)
TURKEY
RUSSIA
BRAZIL
EUROPE
COMMONWEALTH
Tax authorizaVon neededE-‐invoicing mandatePrescripVvenessIntegrity & authenVcityArchiving DigSig/Timestamp mandatoryMandatory XMLClearance (CL)CL + buyer acknowledgementFull cycle CLAccounVng doc complianceLocalizaVon
Limited Availability
Compliance maintenance
Average 65 requirements per country, 2 changes per year and country 1000s of configuration permutations
Compliance change management incompatible with business change management
adjust
deploy
testaudit
monitor
How Best to Support Compliance Maintenance?
7
Build Application or API with 3rd Party?
Working Together in a Diverse Global Landscape
Supply Chain Operating Network Integrate with suppliers, customers, and logistics Receive and transform invoice data Orchestrate and manage data flows
Work with local authorities Identify compliant local providers Sign, timestamp, validate, and archive
4 Examples
▪ EU Example Flow ▪ US Example Flow ▪ Turkey Example Flow ▪ LATM Example Flow
EU Example
Seller BuyerElemica
TrustweaverGovernment
1) Invoice Format 1 or Image
2) Invoice Original Invoice
3) Invoice Format 2 and Original Image
5) VAT Refund
Local Providers
Sign and Archive
Archive Ex post
4) Archive Copy
Government
5)Pay VAT
US Example
Seller BuyerElemica
1) Invoice Format 1
2) Invoice Format 2
Turkey Example
Seller BuyerElemica
TrustweaverGovernment
1) Invoice Format 1
2) Invoice Government Format
Local Providers
Sign and Archive
Process Clearance
4) Receive Invoice/ Refund
Government
4)Pay VAT
3) Invoice Format 2
LATM Example
Government
Seller BuyerElemica
TrustweaverGovernment
1) Invoice Format 1
2) Invoice Format 3
3) Invoice Format 2
4) Compliance/ Refund
Local Providers
Sign and Archive
Process Clearance
Note: Brazil, Chile, and Mexico all are different
4)Pay VAT
