The cost of I2P non-compliance
Do you ever find yourself asking, just when did the humble invoice become so important?
Yes, the invoice has always been a promise to pay for goods and services. But now in the 21st Century the invoice has been elevated to far more lofty heights.
And you don’t need us to tell you that a supplier invoice is a critical document in the trade cycle. It’s
- A request for payment.
- An accounting document for suppliers and buyers.
- Evidence to support tax reclaims or payments to or from governments.
And that last point is probably the one exercising your thoughts right now. Organisations must take appropriate steps to fulfil their obligations and responsibilities for accounting and audit and satisfy the legal and fiscal requirements of the tax authorities. Many countries have now fully abolished paper invoicing by mandating electronic invoicing. And this is a trend set to continue.
To help you navigate your way through this tax compliance minefield read our whitepaper, written in conjunction with Spend Matters looking at The cost of I2P non-compliance.