• Tabellae Blog

E-invoicing in Asia | Prepare your documents for new demands


E-invoice is becoming mandatory in Asia  

Corporations operating in Asia must be aware that e-invoicing is becoming mandatory. The Asian market for electronic invoice volume is accelerating rapidly. It is expected to be the most promising market regarding growth in invoice volume until 2025.

The use of e-invoicing is pushed by ASEAN

ASEAN, which is the Association of Southeast Asian Nations, is pushing the use of e-invoicing based on the PEPPOL Interoperability framework. PEPPOL enables trading partners to exchange standard-based electronic documents through the PEPPOL network.

The Association of Southeast Asian Nations (ASEAN) consist of the following nations: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam.


digitalization of invoices

 

Mandatory e-invoices in India and Vietnam

One of the ASEAN members, Vietnam, originally planned to have electronic invoices made mandatory for all corporations in November 2020. However, due to local businesses' problems applying a compliant e-invoice solution, the deadline has been moved to 1 July 2022.

Countries outside of ASEAN are also developing. In April 2020, India made electronic invoice registration mandatory. The invoice content in India is rich. Due to this, it is expected to clear the way for e-invoice transmission to buyers.    

China is also preparing for a roll-out of e-invoicing of the entire Business-to-Consumer (B2C) and Business-to-Business (B2B) market. That, among other reasons, is to increase the tax authority's ability to monitor whether the right amount of Value Added Tax (VAT) is being paid. Read more about e-invoicing in China here.

E-invoicing in Asia

International E-invoicing Market 2020, Billentis

What does the e-invoice regulations mean for you as a vendor or business partner?

If you do business in the Asian markets, your corporation must be able to comply with the national demands for electronic invoicing/billing. This means that you must exchange standard-based electronic documents through the PEPPOL network.

If you aren’t already using e-invoicing to business in Asia, then prepare your corporation to do so. E-invoicing is becoming mandatory in Asia, so there is no way around it.

Business partner

Is the PDF format an e-invoice?

Now you might think: “My operation uses the PDF format for invoicing, isn’t that an e-invoice too?”. Most people would probably say no since a PDF file is not a structured format and cannot be processed automatically. However, with the standard software for Document Management, Lasernet, corporations will be able to process a PDF file and convert it into an electronic format.

In Germany, they use the format ZUGFeRD where the XML file is sent as a PDF file. The Lasernet software can take the PDF file and convert it into a standard XML text file for further processing. It can also do this process in reverse, i.e., taking an XML file and converting it into a PDF file.

Due to Lasernet's ability to convert files to and from PDF and XML formats you can use the PDF format for e-invoicing if you are operating in Asia

With the standard Output Management software, Lasernet provided by Tabellae, corporations can get a solution supporting both the digitalization of e-invoices and simultaneously making sure all the relevant compliance requirements are met.

Want to know more about e-invoicing in Asia?

If you have questions about e-invoicing in the Asian countries or how your corporation can benefit from a e-invoicing solution for the Asian market, please This email address is being protected from spambots. You need JavaScript enabled to view it..

Sources:
E-Invoicing / E-Billing Billentis report from 2020
Iva.asia, 2020 

E-invoice

E-invoicing in Asia

Picture Source: Indian Briefing

 

Kæmpe besparelse af tid og penge

Med Lasernet sparer du op til 70% i tid og 50% i kroner og ører

Se de nørdede tal og detaljer


Add a field and get it out on paper with the right design
Add company info
Corrections after testing
Configure automatic attachment
Encoding 1 label
Changes in design on 1 invoice (1st page different from other pages)

Let’s get in touch!

Calculate Your Return on Investment

Calculate Your Return on Investment

Call or write to Lennart Garbarsch
+45 5361 5049
This email address is being protected from spambots. You need JavaScript enabled to view it.
Follow us on LinkedIn

Follow us on LinkedIn

Articles, market news and inspiration to maximize the return of your investment.
Sign up for our newsletter

Sign up for our newsletter

New features, products and fields of application 4-6 times a year.
Click here

Let us contact you

Would you like to make your next ERP project easier? Then leave a message for us and we will contact you as soon as possible.

Tabellae is recommended by leading ERP houses

  • Columbus
  • Cgi
  • DXC Technology
  • Canon
  • Implema
  • Innofactor
  • Orango
  • Bredana
  • Datacon
  • Fellowmind
  • Tieto Evry
  • Fujitsu
  • Scales
  • Sigma
  • Essence Solutions
  • Optosweden
  • Axdata
  • Norriq

About Tabellae

Tabellae is an implementation house specializing in invoices, offers and other output from business systems. We reduce the cost of document exchange and the number of unknowns in the ERP project, making the overall ERP solution easier to maintain and cheaper to upgrade as well as ensuring that it goes live on time and on budget.

Be the first to hear the news

Stay a bit sharper than your competitors and learn more about Output Management.

  Receive articles and knowledge via LinkedIn
  Get our newsletter
Tabellae's YouTube Channel  Watch videos and receive knowledge via YouTube