Ireland reveals e-invoicing and real-time reporting roadmap

The Irish Revenue has released its e-invoicingElectronic invoicing - widely referred to as e-invoicing - is the exchange of a digital document between a supplier and a buyer. E-invoices are issued, transmitted and received in a structured data format that enabled automatic and electronic processing. They contain data in a machine-readable format so that an AP system can read an invoice without manual data entry, leading to faster and more efficient invoicing. and real-time reporting roadmap, detailing the steps it will follow as it prepares to implement the EU’s VAT in the Digital Age (ViDAViDA or 'VAT in the Digital Age', is an EU initiative proposed by the European Commission that seeks to modernise and harmonise VAT processes for member states, by embracing new technologies. It is aimed at updating processes for the management of VAT, and reduce the VAT gap and fraud. The proposal also aims to address challenges in the area of VAT raised by the development of the platform economy.) mandate.

It contains an unprecedented level of detail around how Ireland will introduce domestic e-invoicing and real-time reporting across the country; allowing it to contribute to the EU’s key ViDA objectives of reducing VAT fraud and smoothing international trade.

Ireland’s three-stage implementation is designed to build on the country’s digital innovation.

Phase 1 – November 2028

All VAT-registered large businesses will have to implement e-invoicing and real-time reporting for domestic B2B transactions from this date.

Phase 2 – November 2029

At this stage, all VAT-registered businesses that trade within the EU will be required to introduce e-invoicing and real-time reporting systems for intra-EU transactions.

Phase 3 – July 2030

The full scope of the EU’s ViDA mandate will be implemented; covering all cross-border EU B2B transactions. Any Irish businesses still trading under the domestic system will switch to the EU regulations.

Irish authorities have designed the roadmap to ensure businesses and tax authorities have adequate time in which to prepare for e-invoicing and real-time reporting. Both are urged to learn from early adopters and take the necessary steps to achieve full compliance.

The e-invoicing regulations require businesses to receive e-invoicing from suppliers. The changes needed to achieve this will become a focus for multiple parts of a company, including the Tax, Finance, and IT teams.

For more information on how we can help to ensure compliance with e-invoicing mandates, click here to learn more about our bespoke three-stage e-invoicing service for businesses.