Tungsten Network an international invoicing company, released today that it has completed the final testing necessary, set by Italian tax authority Sistema di Interscambio (SdI) to become a fully-registered intermediary for B2B e-invoicing in the country.
The news comes off the back end of the Italian government’s announcement this March that all businesses registered in the country would be required to send invoices and associated documents electronically via the SdI starting January 1 2019.
The legislation, which requires companies to alter their procure-to-pay processes to issuing invoices, is meant to improve efficiencies and enhance tax revenue in Italian B2B transactions. The new measure follows the lead of a mandatory B2B government e-invoicing for suppliers to public bodies that was enacted in 2014.
Tungsten Network, with its new SdI intermediary registration, can now provide its customers with one integrated platform from which to send and receive e-invoices.
The company reports that this opportunity has already been seized by many large institutional customers such as General Electric and Nestlé.
Looking forward, Tungsten Network believes many other countries will follow Italy’s lead and so the company’s strategy will be to “continue to work with global tax authorities to stay ahead of statutory changes as they inevitably occur.”
