The French government announced a delay in the implementation of mandatory e-invoicing and e-reporting, which was scheduled to start on July 1, 2024.
French companies are required to send their invoices to government agencies in electronic format. However, the rate of paperless business-to-business transactions remains low, generating extra costs for companies.
Article 26 of the 2022 Supplementary Budget Act provides for mandatory electronic invoicing to:
- enhancing business competitiveness by lessening the administrative burden, reduced payment times and productivity gains resulting from a paperless approach.
- simplifying VAT reporting obligations by pre-filling the declaration form;
- improving fraud detection,
- improving real-time knowledge of business activities.
The new date will be determined in the Finance Act for 2024 after further consultations with stakeholders.