The use of electronic invoicing is a reliable and secure alternative to the traditional way of issuing invoices.

Electronic invoicing is a “digital bridge” between companies, but also between companies and the state, while also offering important tax incentives.

With the passed multi-legislation, the opportunity is given to businesses, which did not join the deadlines with Law 4701/2022, to proceed with their inclusion in electronic invoicing until June 30, 2023.

According to consulting company Nepa Economic Consulting, the use of electronic invoices is an easy and effective way for businesses to improve the management of tax obligations and benefit from important tax incentives.

Tax incentives offered by electronic invoicing through a licensed provider:

– The issuance by the tax authorities of a corrective tax assessment is reduced from five to three years for the issuer of sales documents.

-The recipient of electronic invoicing reduces the issuance of a corrective tax assessment act from five (5) to four (4) years.

-The purchase of software and equipment that will be required for the use of electronic invoicing is fully amortized within the fiscal year, increased by 100%.

-Business expenses for the transmission of electronic invoices are recognized in the first year increased by 100%.

-Significant reduction in the time, within which the tax administration examines tax refund requests for those who join electronic invoicing, from ninety to forty-five days.

Businesses in an administrative context gain:

-Automation of invoicing and sending of their documents through secure protocols to the traders and the myDATA platform.

-Instead of the unstructured process of exchanging electronic mail to confirm receipt and accept documents, powerful online tools allow mass processing and control, minimizing time, cost and chances of human error, through guaranteed delivery and proof of reading of sent documents .

-The cost of sending an e-invoice through a provider is up to 0.10 euros per e-invoice, which is clearly up to 60% cheaper than the cost of buying paper, envelopes and mailing them.

-Archiving of the documents in a maximum security cloud.

-Full digitized retail without tax mechanism, without ‘Z’.