The e-Invoice service has been launched in Moldova on February 11, 2014. In just 3 months it managed to fully justify its existence and the figures speak for themselves. 

826 companies (957 unique visitors) have subscribed to the e-Invoice Service thus choosing to electronically manage invoices in a simple, safe and convenient manner.  

During the reporting period, 1907 invoices were issued, 1858 of which had been completed. The record in terms of the total amount of an invoice without VAT registered at the present time constitutes 1, 490,317 MDL. The total billing sum for the reporting period amounted to 25, 589, 294, 01 MDL and total VAT 3, 958, 853.51 MDL.

The commercial transactions underpin the economic agents’ activity and the above figures show increased awareness among the local entrepreneurs as respects the benefits of billing process digitization. 

The e-Invoice uptake is more pronounced in the EU member countries. And recently, after the Directive 2014/55 on electronic invoicing in public procurement approval by the European Parliament, a huge step towards creating a digital Single Market in Europe has been made. 

The implementation of harmonized standards in the member countries will solve economic interoperability issues and reduce costs for the companies participating in cross-border trade.

The results achieved after the e-invoicing implementation in the public procurement field, in a number of European countries, persuade more and more entrepreneurs to reconsider their point of view towards the electronic invoice.

Thus, e.g.  the Danish taxpayers save annually about 150 million euro and the local entrepreneurs have reduced costs by 50 million euro - and all thanks to the e-Invoice use. Moreover, the European Commission estimates that the implementation of an EU harmonized e- invoicing system would result in 2.3 billion euro annual savings.

The e-invoicing implications at the microeconomic level are even more tangible. A study commissioned by Ricoh Europe shows that the cost for processing a paper invoice goes up to 17,6 euro, while the one needed to process an electronic version is 2.5 times smaller (6.7 euro). The issuing of an invoice on paper costs 11.1 euro, versus 4.7 euro in digital form.

 The savings generated by the e-invoicing use can be successfully reinvested in companies’ development at the individual level or innovation and development at the macroeconomic level.

In Moldova, the e-Invoice service is implemented in 3 stages: pilot stage (March 11, 2014), experimental stage (June 1, 2014) and industrial stage (January 1, 2015) – the first one being already completed. The e-Invoice is meant for the business environment in particular, and its key benefits include:

• Reduction of costs involved in the billing process – by eliminating expenses related to paper invoice handling processes (issuance / transmission / postal fees / storage, etc);
• Legal coverage – the electronic invoice having the same legal value as the classical one, on paper;
• Improved customer relationships – by simplifying the billing process and reducing the time for transmitting invoices;
• Streamlining the business process itself – by optimizing costs related to supplies, transport, human resource allocation

We should also mention the e-Invoice applicability in the corporate social responsibility policy, the electronic invoice canceling the natural resources consumption.

Here you can see more details for about the e-Invoice service.