Finland to evaluate mandatory real-time e-invoicing
Finland is set to review mandating B2B e-invoicing / digital reporting for its taxpayers. This comes as the EU VAT in the Digital Age plans progress towards implementing structured e-invoicing for intra-community supplies from 2028.
The news was included in its latest government plan.
Finland already obliges taxpayers to accept e-invoices from taxpayers since 2020. As a result, it already has very high adoption of e-invoicing. So it has till now been reluctant to follow the mandatory route – many countries are reluctant to adopt e-invoicing because of the costs and risk of stifling innovation.
April 2020 – Option to demand EU-standard electronic invoices from suppliers
Finland has permitted resident businesses with annual turnover above €10,000 the right to require B2B suppliers to provide electronic invoices only from April 2020. Invoice formats accepted in Finland are Finvoice 3.0 and TEAPPSXML 3.0.
Government – Central, regional and local contracting authorities – are mandated to use e-invoices since April 2019 at the federal level. Local authorities were included from April 2020 – although COVID-19 disruption meant the old Finnish standard invoice could still be used until mid-2021.
VAT Calc’s real-time global Calculator product produce instant and accurate tax calculations into your e-invoicing systems, which are then automatically included in your next return via our VAT Filer product, built on the same single-platform.
EU invoicing standards – EN 16931
Any invoice provided must be in accordance with the EU standard on e-invoicing, EN 16931, which covers the semantic data model. This replaced the Finnish TEAPPSXML and Finvoice – which are still accepted until mid-2021. The rules in Finland also allow customers to refuse to accept PDF-format invoices. There is no requirement for PEPPOL-registered forma invoices.
VAT Calc’s international live VAT invoice transaction and e-invoice tracker on real-time transaction-based VAT reporting details all the countries imposing invoice reporting.