e-Invoicing leap in Russia

“Future of E-Invoicing in Russia” took place in Moscow recently. The following was reported:

“· Necessary legal aspects must be prepared for e-Invoicing during the first half of 2010 (Russian government position according to the Ministry of Finance report)

· Corresponding amendments (#369555) to the article 169 of the Tax Code have been approved already on December, 17, 2009

· A pilot project was conducted in Moscow, 2009 to test the way of e-invoice provision and processing

· A solution from Taxcom Co had been chosen by the Ministry of Finance for this purpose”

It is a useful reminder for EU-countries to see how fast needed legislatory changes can be effected. Now we do not foresee such needs in equal treatment countries (possibly apart from real time VAT reporting). But when it comes to more or less forcing enterprises into structured invoicing we may well see that for example Russia will do the obvious thing faster than EU-countries.