Have your say: Options for mandatory e-Invoicing adoption by businesses
Overview
The Federal Government has announced measures to advance the adoption of electronic invoicing (e-Invoicing) through implementation of the internationally recognised Pan European Public Procurement OnLine, or Peppol, framework.
To develop and administer the framework within Australia, the Australian Taxation Office has established the Australian Peppol authority. The aim of the framework is to enhance the efficiency and productivity of invoicing for Australian businesses.
Currently, over 1.2 billion invoices are being exchanged in Australia on an annual basis. Approximately 89 per cent of small and medium businesses continue to process traditional paper invoices.
According to the Deloitte Access Economics estimates, every time a paper invoice is replaced with an e-invoice, it can deliver up to $20 in cost savings to the involved business.
The Government has announced that it would consult on options to accelerate the adoption of e-Invoicing by businesses, including options for mandatory adoption by businesses.
With less than 60 days left to have a say, stakeholders are encouraged to provide feedback on the consultation.
Key Documents
Have your say
Interested parties are encouraged to comment on this consultation before the 18 January 2021.
While submissions may be lodged electronically or through post, electronic lodgment is preferred.
All information (including names and address details) contained in submissions will be made available to the public on the Treasury website unless specifically indicated that the submission is to remain confidential. Automatically generated confidentiality statements do not suffice for this purpose.
View the Treasury submission guidelines for further information.
How to Respond
Contact: Matthew Sedgwick
Email (preferred):
e-invoicing@treasury.gov.au
Post:
Data Economy Unit
Treasury
Langton Cres
Parkes ACT 2600
Enquiries:
Enquiries can be directed to e-invoicing@treasury.gov.au
Media enquiries should be directed to medialiason@treasury.gov.au or +61 2 6263 2300
Source: Australian Treasury
25 November 2020
