As a long-standing SAP partner, we at GOpus closely follow developments in the world of business software. One of the most important changes that our SAP customers will face is undoubtedly the introduction of mandatory electronic invoices in the B2B sector, which should be decided as part of the Growth Opportunities Act.
Now the adoption of the Growth Opportunities Act has taken a turn, because after it was passed in the Bundestag, the Federal Council referred it to the Mediation Committee on November 24th due to criticism. In addition to the impact on companies, we also shed light on an important change in the B2B sector – the mandatory electronic invoice.
Background to the Growth Opportunities Act
The aim of the “Law to Strengthen Growth Opportunities, Investments and Innovations as well as Tax Simplification and Tax Justice” is to improve the liquidity of companies and promote long-term investments and entrepreneurial innovations.
Law changes and revisions in focus
With 33 changes between the draft bill and the Bundestag version, the law aims to simplify the tax system. This includes raising limits and flat-rate amounts, particularly for the benefit of small companies, in order to reduce bureaucracy.
The Federal Council has the law last Friday, November 24th, 2023 referred to the Mediation Committee because the Bundestag resolution only selectively incorporated the Bundesrat's proposed changes and short-term additions made a revision necessary.
Electronic invoicing in the B2B sector: What is changing?
The EU Commission is pushing forward the ViDA initiative, which, among other things, is intended to replace the previous summary reports. From January 1, 2025, companies will have to adapt to new definitions of terms; an electronic invoice must meet European standards.
The obligation discussed applies exclusively to B2B sales and should apply from January 1st, 2025. For the changeover, transitional regulations are available to companies until the end of 2026 and for small companies until the end of 2027.
Conclusion: challenges and opportunities for companies
The future of electronic invoicing is unstoppable. Companies should prepare for this early on. GOpus recommends actively dealing with technical and organizational adjustments in order to make optimal use of the advantages of electronic invoicing.
The introduction of e-invoicing presents companies with challenges, but also offers opportunities for process optimization. GOpus sees this as an opportunity to move into the digital future together with its customers and looks forward to a successful transition in the coming years.
Webinar note: E-Invoicing Act on the home stretch
As your trusted SAP partner, we cordially invite you to our exclusive webinar “E-Invoicing Law on the finish line – Easily invoice nationally and internationally with SAP”. Find out how you can easily integrate the current legal changes into your business processes. Register now and shape your digital future together with GOpus.
Chief Executive Officer