New E-Invoicing Mandate in Denmark

The Danish Bookkeeping Act mandates that companies involved in financial reporting must ensure their ERP systems can handle both OIOUBL and Peppol BIS formats. If an electronic invoice is requested by a customer or vendor, it must be sent or received without refusal. While issuing invoices in other formats is still allowed, ERP systems must be ready for the digital exchange of purchase and sales invoices.

Although sending electronic invoices is not yet mandatory, it is anticipated to become compulsory for B2B transactions by 2027 or 2028. Final details regarding this timeline have not yet been provided by the Danish authorities. 

Important Dates

• 1 July 2024: Companies required to submit an annual report under the Annual Accounts Act and using a standard DBS must begin digital bookkeeping with the next new accounting period. For example, if a company’s accounting period runs from 1 January to 31 December 2024, the obligation starts on 1 January 2025.

• 1 January 2025: Companies required to have the capability to receive electronic invoices and to submit an annual report under the Annual Accounts Act and using a custom DBS must begin digital bookkeeping with the next new accounting period. 

• 2026: Companies with a turnover exceeding DKK 300,000 in each of the two recent income years must start digital bookkeeping. This obligation begins with the first accounting period following the implementation date.

As with all mandates, these details are subject to change.

Our suggestion: communicate with suppliers now

To prepare effectively, communicate with your suppliers to set clear expectations. Encourage them to make any necessary adjustments to their existing invoicing processes in collaboration with your business. Proactive communication can help avoid the sudden influx of varied formats in your AP or ERP systems.

How Basware can help

Basware offers comprehensive solutions to ensure compliance with the new mandate and manage your invoicing and archiving processes efficiently. Our experts are ready to guide you through the mandate requirements and leverage Basware's solutions for seamless compliance. Contact us today!

Download our CFO Handbook to learn more about achieving compliance and operational excellence in e-invoicing.