Type: Legislation
On 21st February 2024, the German Parliament’s Mediation Committee made significant progress toward implementing the Growth Opportunities Act, which will transform e-Invoicing in Germany.
As professionals and business leaders, it’s vital to monitor legislative changes affecting our operations. While the legislation is still pending, its impact on German VAT laws and e-Invoicing standards will be substantial.
Key Highlights:
- From 1st January 2025, electronic invoices will be mandatory in Germany, signaling a shift towards digitalization.
- By 1st January 2027, German companies with annual turnovers exceeding EUR 800,000 must use e-Invoicing for domestic B2B transactions.
- From 1st January 2028, all German-established entities, regardless of turnover, must comply with e-Invoicing requirements.
- The Mediation Committee will reconvene on 22nd March 2024 to further deliberate on this pivotal legislation.
Effective date: January 1st, 2025
