Slovakia has taken a significant step towards enhancing its invoicing process by introducing the Slovakian Electronic Invoice Information System (IS EFA). This IT and communication solution, launched in January 2022, allows companies to send electronic invoices to public administrations in the country. While electronic invoicing is currently voluntary, it will become mandatory for all B2G transactions from April 1st 2023. The dates for mandatory B2B e-invoicing have not yet been set but are expected to be published soon.
As of April 1, 2023, e-invoicing is mandatory for B2G in Slovakia.
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Slovakia
Author: Kristina Dosen
Category:
Fiscal subject related
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Content accuracy validation date:
06.03.2023
Content accuracy validation time:
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The creation of the IS EFA platform is the result of a successful collaboration between the ministry of finance and the public contracting company. This platform will help reduce administrative costs, enhance efficiency, and increase transparency in public administrations. With IS EFA, the government can regulate the delivery of electronic invoices to the public administration and manage all transactions through a unified process.
The primary objective of IS EFA is to enact Directive 2014/55/EU of the European Parliament and Council, which focuses on electronic invoicing for public contracts. This will help fight tax fraud and speed up tax collection. Companies will also find it easier to comply with their tax obligations, thereby contributing to a more efficient invoicing ecosystem.
Electronic invoicing has been adopted by many countries worldwide, and Slovakia is joining the growing list of nations embracing this digital innovation. With the IS EFA platform, Slovakia is sure to reap the benefits of electronic invoicing, including improved accuracy, lower costs, and faster processing times. The new system will also lead to increased trust between businesses and public administrations and ultimately promote economic growth in the country.
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