e-invoicing in Asia Pacific

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What is e-invoicing?

e-invoicing is the direct transmission of invoice data from your financial systems to those of your business partners and or a government body.

To produce an e-invoice, a business cannot simply create a PDF version of a traditional paper invoice, rather, a business must have the ability to convert invoice data into a prescribed data format (e.g. PEPPOL BIS, Json etc, Xml etc.)

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What are the core e-invoicing models in Asia Pacific?

At the most basic level, there are essentially two core-invoicing models we see (within which there are various sub-variations).

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The Interoperability model (otherwise known as 4 corner model) – this model uses a network of private service providers governed by an overarching regulated document format and exchange methodology. This model centers on direct interchange of documents between businesses with subsequent relay to the government on a post-audit basis. The most widespread regulator and document exchange format of this model is called PEPPOL. Countries which have adopted PEPPOL e-invoicing in APAC include Australia, Singapore and Japan.

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The Clearance Model – this model entails the government clearance of an invoice (fiscal validation and approval) before or after issue of the invoice to your supplier. Here the country tax administration defines its own structured format to be used by tax subjects. This is the most prevalent model seen in APAC, with India, Kazakhstan, Bangladesh Indonesia, the Philippines, Vietnam, Korea, Taiwan, China, Thailand and soon Malaysia adopting this model.

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What are the drivers behind e-invoicing in Asia Pacific?

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Common challenges during implementation of e-invoicing

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How can Deloitte help you on your journey?

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E-invoicing and digital reporting matrix

Customised matrix based on the business’s tax footprint, containing standardised requirements and a jurisdictional status of existing e-invoicing and digital reporting mandates.

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Roadmap of developments

Implementation roadmap for system readiness, setting out the key stakeholders and key deadlines. The roadmap includes a report of upcoming developments and functional specifications.

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Gap analysis

Assessment outlining where companies are required to comply with e-invoicing mandates on a country-by-country basis. The gap analysis includes a technical specifications analysis regarding the company’s current state for e-invoicing/reporting.

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Solution selection and implementation

Assist companies with the coordination of e-invoicing vendor solution selection and implementation. For this purpose, Deloitte professionals use a pre-defined methodology with the aim of driving key criteria that will be used for the evaluation of solutions.

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Knowledge transfer

Coordination with Deloitte professionals who can assist on outlining strategic plans for knowledge transfer sessions based on a company’s global tax footprint.

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Customised developments

Supplemental services to track and document e-invoicing/reporting developments tailored to a company’s global tax footprint, complied in an easy to navigate database.

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