The use of electronic invoicing has brought in around 2 billion more in VAT revenue and effectively combated tax evasion
The lockdown and the economic crisis resulting from the global pandemic have not stopped the growth of electronic invoicing. Mandatory for more than a year now, after an initial difficulty and a period of adaptation for large and small companies, electronic invoicing is now working at full capacity.
In a hearing at the Finance Committee of the Chamber, the director of the Revenue Agency Ernesto Maria Ruffini spoke of economic benefits resulting from the use of economic invoicing for 3.5 billion euros. But that’s not all. VAT revenue has increased by about 2 billion, while direct taxes are estimated to have grown by about 580 million euros. Electronic invoicing is producing the effects that everyone hoped for: the fight against tax evasion and higher tax revenues.
The success of tax invoicing is also due to the many platforms that have been created in the last year that allow companies to better manage their taxation. For example, Libero SiFattura offers an easy-to-use management system that allows you to keep track of paid and outstanding invoices, and also create a registry of suppliers and customers. There are many advantages for companies that use platforms like Libero SiFattura.
Electronic Invoicing, the numbers for the first months of 2020
Electronic invoicing is a constantly growing trend: in the first 5 months of 2020 (including the lockdown period), over 770 million invoices were sent by about 3.3 million operators. The numbers are increasing compared to the same period last year.
Companies have become familiar with platforms such as Libero SiFattura that allow them to manage all tax documents in a very simple way. The advantages of using Italiaonline’s management software are many, starting with the fact that there are no limits to sending and receiving electronic invoices. But that’s not all, from the dashboard you can also automate the process for invoices with a fixed monthly amount.
Also with Libero SiFattura you have no problems at the legislative level for the storage of tax documents, which by law must be kept by companies for at least 10 years. The platform allows you to store all your invoices and have them always at hand. The platform also gives you a complete overview of your company’s financial situation, monitoring incoming and outgoing invoices and those that are still outstanding.
Libero SiFattura has both a free plan that provides access to basic functionality, and two paid versions: Lite and Pro, which cost 29 euros (plus VAT) and 49 euros (plus VAT) respectively for one year.