Electronic invoicing and real-time tax reporting are coming to all corners of global commerce, and that will fundamentally change the way businesses operate. Businesses of all sizes will soon have to issue and accept e-invoices, a standardised electronic form of invoice, and report them to national tax authorities in real-time in an effort to streamline data reporting, improve tax collection and stamp out VAT evasion.

While large companies in some EU member states have had to comply with these regulations for years, real-time digital tax reporting is also now becoming mandatory for many small and medium-sized companies across the EU.