Sep 06, 2024 11:16 AM
On March 22, 2024, the German Bundesrat, the upper chamber of Parliament, approved the Growth Opportunities Act. A key provision of this legislation introduces mandatory B2B electronic invoicing, starting on January 1, 2025. From that date, businesses will be required to accept structured e-invoices that comply with the EN 16931* standard. The full implementation of the law will be completed by January 1, 2028.
Great news from Basware, we are already processing these approved formats today!
What you need to know:
Are you sending electronic invoices in Germany now?
From January 1, 2025, if you are sending electronic invoices in Germany, you must do so in one of the approved formats.
Are you a recipient of invoices in Germany now?
From January 1, 2025, if you are a recipient of invoices and your supplier wants to send you an electronic invoice in one of the approved formats, you will be required to accept it.
What to do?
Please reach out to us, your compliance experts, to find out how we can help you prepare for the mandate now and in the future.
You can also download our 'Global e-Invoicing Mandate Infographic' that provides a comprehensive overview of changes and a peek into future mandate deadlines.
*EN 16931 is a European standard for electronic invoicing, established by the European Committee for Standardization (CEN). It provides a unified model for the content and format of electronic invoices, ensuring legal compliance and supporting cross-border trade.
