Plans to extend India e-invoicing to Business-2-Consumer transactions in doubt
Following the completion in 2021 of the rollout of B2B electronic invoicing for transactions above ₹20 crore (from 1 April 2022), the plan had been to bring in B2C transactions.
Currently, For B2C invoices, a QR Code must be included in any invoice by a supplier with an annual turnover above ₹500 crores (approx: €57m; USD67m) since mid-2021.
Yield on B2C e-invoicing and further threshold reduction doubtful
However, it is being reported that the compliance burden of extending the mandatory e-invoicing obligation to retail would not justify the likely additional revenues yield. In addition, the new ₹20 crore B2B transaction threshold may not be reduced further.
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Asia Pacific e-invoicing
|Country||Date||Comments (click for details)|
|Australia||Jul 2023||PEPPOL-based e-invoicing with no govt intervention B2B|
|China||Jan 2023||Special e-fapiao VAT invoice being piloted with 2023 full implementation|
|India||Oct 2020||B2B pre-clearance with separate B2C; completed Apr 2021|
|Indonesia||Jul 2015||e-Factur Pajak electronic invoicing|
|Japan||Oct 2023||Tax qualified invoices|
|Kazakhstan||Jan 2017||e-invoicing IS ESF|
|Kyrgyzstan||Jan 2023||Mandatory e-invoicing for goods|
|Mauritius||2023||e-invoicing System with digital transaction reporting|
|New Zealand||Mar 2022||B2G PEPPOL-based e-invoicing|
|Philippines||Jul 2022||2022 pilot of e-invoices; to follow South Korea model|
|Singapore||TBC||Mandatory B2G e-invoicing on InvoiceNow|
|South Korea||2011||Near real-time invoice reporting|
|Taiwan||2017||Electronic GUI invoices; non-residents since 2020|
|Thailand||2018||E-invoice reporting where adopted|
|Vietnam||Nov 2021||Pre-clearance B2B verification code e-invoice|