After this date, all invoices are required to be submitted and transmitted electronically through a general entry point which has been designed to record copies and details of all data such as the dates of submission. This will ensure that in the event of issues such as late-payment by public sector entities, corresponding interests will still be paid.
The initiative is set to streamline the invoicing process and secure savings of around EUR 3.48 per invoice issued, with invoice processing times estimated to be cut down by up to 80% and annual savings to reach around EUR 52.5 million.
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