The main objective of introducing electronic invoicing and VAT reporting models in Belgium is to combat tax fraud, which resulted in a loss of approximately 10.8% of estimated revenue in 2018, amounting to around 3.6 billion euros.
The current tax reform aims to achieve several objectives, including increasing the employment rate, encouraging entrepreneurship, stimulating investments, combatting poverty, and increasing the purchasing power of families.
As part of the government's digital plan, the focus is on embracing digital transformation and promoting the dematerialization of transactions and interactions between the government, citizens, and businesses.
Implementing electronic invoicing for B2B transactions is expected to result in significant improvements in VAT collection by the government and offer substantial benefits for businesses in terms of cost reduction, efficiency, and security.
Additionally, electronic invoicing will serve as a gateway to digitalization, making businesses more competitive.
B2G e-Invoicing in Belgium
Belgium is set to introduce mandatory B2B e-invoicing, but it has already taken steps towards B2G e-invoicing.
The Belgian government has already implemented a voluntary B2G e-invoicing system that enables businesses to submit electronic invoices to public authorities.
Belgium's B2G e-invoicing system is known as Mercurius and is part of the federal government's e-government program.
The Mercurius system allows businesses to submit electronic invoices directly to government entities, eliminating the need for paper-based invoicing.
Mercurius is based on the European standard for electronic invoicing (EN 16931) and uses the PEPPOL (Pan-European Public Procurement Online) network for transmission.
This ensures that businesses can send and receive electronic invoices in a standardized format, regardless of the public authority they are dealing with.
Businesses that use the Mercurius system benefit from improved efficiency, reduced costs, and enhanced security compared to traditional paper-based invoicing.
The system also provides real-time tracking and monitoring of invoicing activities, ensuring invoices are received, processed, and paid promptly.
The introduction of mandatory B2B e-invoicing in Belgium is expected to promote further electronic invoicing, including B2G e-invoicing, as it will provide businesses with the necessary infrastructure to support these processes.
How to Prepare for B2B e-Invoicing in Belgium
Determine if the New E-Invoicing Requirements Will Impact Your Business
Review the proposed implementation phases to determine which phase your business falls into. This will help you understand the timeline for implementation and the steps you need to take.
Evaluate Your Invoicing Processes
Check your ERP or accounting system to determine how you may need to be adjusted it to comply with the new requirements.
This may involve adopting new e-invoicing software or tools, revising invoicing templates, and ensuring your invoicing processes align with the Peppol model.
Ensure Compliance with Local Regulations and Standards
Ensure you comply with local regulations and standards, including the Belgian tax authority's requirements for electronic invoicing.
The process may involve working with a certified e-invoicing provider whose solutions comply with Belgium's compliance and regulations standards.
Train Your Employees on the New e-Invoicing Processes and Tools
Ensure that your employees are trained on the new e-invoicing processes and tools. This will help ensure a smooth transition to electronic invoicing and minimize disruptions to your operations.
Test The New e-Invoicing System
Before the mandatory implementation date, test the new e-invoicing system to ensure that it works properly and that your business can send and receive electronic invoices.
Partner with an e-Invoicing Service Provider
Working with an e-invoicing service provider like Unimaze can help ensure compliance with the new e-invoicing requirements, improve efficiency, reduce costs, and streamline invoicing processes.
Unimaze offers innovative electronic invoicing software solutions, automation, compliance support, and training to help businesses navigate the complex landscape of e-invoicing and ensure that they meet all necessary standards and regulations.
Unimaze is Your #1 e-Invoicing Service Provider in Belgium
Unimaze is a leading provider of e-invoicing solutions and expertise that can help businesses get started with e-invoicing in Belgium.
Our solutions are designed to meet the needs of companies of all sizes and tailored to the specific requirements of the Belgian market.
We offer a range of e-invoicing solutions, including the Unimaze Digitizer, Procure to Pay, Invoice Validation, Track and Trace, as well as Accounts Payable Automation.
With these solutions, businesses can streamline invoicing processes, reduce errors and fraud, save money and improve efficiency.
With Unimaze's expertise in e-invoicing, businesses can ensure compliance with local regulations and standards, including the Belgian tax authority's requirements for electronic invoicing.
You can also benefit fromUnimaze's network of partners and vendors, which includes major players in the e-invoicing industry.