The document discusses proposed changes to European Union regulations on electronic invoicing. It outlines how requirements for electronic signatures and other controls may be relaxed, allowing authenticity and integrity to be proven through normal commercial practices. Record keeping rules would also be simplified, standardizing storage periods at 6 years and allowing electronic conversion of paper invoices. The proposals aim to simplify, modernize and harmonize VAT invoicing rules to reduce burdens on businesses and help countries address fraud.

1. Legal and fiscal regulations Impact of the recent proposal Utrecht, April 2009

3. Evolution of regulatory requirements Invoicing Directive 2001/115/EC from 20 December 2001 Common EU rules on VAT invoices VAT Directive 2006/112/EC from 28 November 2006 VAT invoicing rules COM (2009) 21 from 28/1/2009 Proposal for a COUNCIL DIRECTIVE amending Directive 2006/112/EC on the common system of value added tax as regards the rules on invoicing COM (2009) 20 from 28/1/2009 COMMUNICATION FROM THE COMMISSION TO THE COUNCIL The technological developments in the field of e-invoicing and measures aimed at further simplifying, modernising and harmonising the VAT invoicing rules 1 January 2013

5. Adoption and interpretation of regulatory requirements on EDI, Customer acceptance and notification of Tax Authorities by European countries DanGa Commission Recommendation 1994/820/EC (on the legal aspects of Electronic Data Interchange) - No mandatory message standard, - Use of procedures for guaranteeing authenticity and integrity such as network security (VAN) plus a summary statement paper Source: CompTIA Source: CompTIA Notification and acceptance of electronic invoicing by Tax authorities and/or Customers depends on Country legislation. Supplier and customer need to address these issues properly.

12. For more information please contact: Danny Gaethofs m +31 (0)6 51 54 02 55 [email_address] Project Manager / Business Consultant