Stay compliant in France with Tungsten Network

Get prepared for France’s upcoming e-invoicing mandate

 

 

Tungsten can alleviate the complexities of this new mandate for you

What you need to know?

The French government has announced that it will implement a phased roll-out of its hybrid e-invoicing and e-reporting mandate starting in 2024. This mandate means that next to e-invoicing, there are requirements for e-reporting and transmission of invoice status information.

Key dates in this roll out are:

  • 1 July 2024: Large Companies must issue electronic invoices, and e-reporting is mandatory for all B2C and export transactions. All companies must be ready to receive e-invoices from this point on, regardless of their size.
  • 1 January 2025: E-invoicing and e-reporting will become mandatory for medium-sized companies.
  • 1 January 2026: This mandate will extend to all remaining small and medium-sized businesses.

What does this mean for businesses operating in France?

By 24 July 2024, large companies must select a platform for issuing and receiving their invoices and sharing e-reporting data. This can be either the Government Portal (PPF) or a (certified) 3rd party service provider

By 24 July 2024, all companies, regardless of their size, must choose their connecting platform to receive e-invoices.

Post 24 July, the French Tax Authority will impose penalties when taxpayers fail to comply with their requirements on e-invoicing and e-reporting. These penalties are: 

  • Non-compliance with e-invoicing- €15 of the penalty amount will be imposed per invoice, capped at €15,000 a year.  
  • Non-compliance with e-reporting- €250 of the penalty amount will be imposed per transmission, capped at €45,000 a year.

When do you need to begin taking action?

French taxpayers, regardless of their size,  should begin taking action today. This urgency should be driven by a desire to not only avoid incurring financial penalties but also to avoid interruption to normal business operations further down the line – and to begin realising the benefits of e-invoicing as soon as possible. 

All French taxpayers must assess how this hybrid mandate will affect their invoicing process and prepare their ERP systems in order to receive the mandated invoice format. 

All businesses should select their preferred connecting platform and validate the process in advance of the 2024 deadline. 

Staying compliant in France – how can Tungsten Network help you?

Compliance is core to Tungsten Network and we are fully committed to supporting the e-invoicing and e-reporting mandate in France. To ensure we continue to provide a world-class e-invoicing service for all our suppliers and buyers in France Tungsten has built a very detailed understanding of the regulations related to e-invoicing and e-reporting

In the near future, Tungsten intends to qualify to become a Partner Dematerialisation Platform (PDP). This will enable us to interoperate with other PDPs or to connect directly to the government portal (PPF) on your behalf.

Why invoice via Tungsten Network instead of Government portals?

In addition to ensuring that our users are compliant, invoicing via Tungsten Network enables our users to access rich data that is not available through government portals.

Tungsten Network provides this additional data, such as purchase order information which is critical to predicting cash flow and controlling budgets, to help our users improve  internal processes and drive AP efficiency. We also validate invoices prior to submission, to improve data quality and ensure compliance with both fiscal and business requirements.

Government regulations might change over time but at Tungsten Network we proactively monitor the e-invoicing movements in the countries that we support. This enables us to make the necessary changes in our systems whenever there is a compliance change.

Tungsten Network is trusted by Frances leading brands, including:

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