Portugal and Spain are the leading countries in the adoption of electronic invoicing, followed by Italy, among their peers in Europe. The digital transformation of business activity has grown exponentially in the Iberian Peninsula, linked to the widespread mandatory use in the European Union, especially in transactions between companies and the public administration sector. SERES says in a study on the use of electronic invoicing globally.
Electronic invoicing has become mandatory in Spain since 2015 and in Portugal only since April 2019, time for both countries, together with Italy, to also become leaders in the use of electronic invoices between companies (B2B).
It is also mentioned that a set of specifications and standards have been defined to facilitate the electronic exchange of documents between countries worldwide, the Peppol (Pan-European Public Procurement Online). Between 2008 and 2012, multilateral agreements were created to create a common structure.
The document highlights the 18% that public procurement represents for the European Union's GDP, but for this to materialize, communication and information exchange between companies and governments must be quick and economical. In addition, they contribute to the development of the Digital Single Market, in the context of the submission of offers to any public procurement tender, regardless of the country to which they belong.
It should be recalled that the mandatory requirement of Portuguese companies, with a turnover of more than 50 million euros in the previous year, to use electronic invoicing systems came into force as of January 1. And as of April 18, 2020 all companies with more than 250 employees are also required, as are regional and local public bodies.