Improves accuracy
Breaking News: E-invoicing duty in March 2022
The introduction of electronic invoicing is taking its next step in New Zealand to better support tax processes and businesses. From March 31, 2022, large businesses and central government agencies must be able to receive electronic invoices. This will require a PEPPOL access point and a New Zealand Business Number (NZBN). The government plans to use B2G e-invoicing to save $4.4 billion by July 2026 if 90% of B2G transactions are processed electronically. The aim of this measure is to simplify the tax process, reduce the administrative workload, lower costs, and combat tax fraud.
New Zealand wants to move forward in terms of digitizing certain processes, so standardized e-invoicing is one of the country’s first digital innovations.
In February 2019, the New Zealand and Australian governments committed to a joint approach to e-invoicing and announced that they would join the PEPPOL network. On October 31, 2019, this plan was then realized and the private sector and government agencies began to adopt e-invoicing. A total of 32 countries are now using PEPPOL and more countries are expected to join the network in the future.
The Ministry of Business, Innovation, and Employment (MBIE), which became a PEPPOL authority, is responsible for overseeing New Zealand e-invoicing.
Besides, the Australian New Zealand Electronic Invoicing Board (ANZEIB) was established in this context to guide and advance the implementation of electronic invoicing. The ANZEIB is composed of civil servants and independent business representatives.
Advantages of electronic invoices:
If you want to know more about the countries represented in the PEPPOL network, download our free onepager on them:
Requirements for electronic invoicing
New Zealand and PEPPOL
As mentioned earlier, New Zealand implemented PEPPOL in 2019, and by joining, the country is participating in a global process that enables the cross-border exchange of electronic invoices. By joining the PEPPOL network, New Zealand wants to additionally take advantage of the opportunity to achieve fully electronic B2B commerce.
To learn why you should use INPOSIA as your PEPPOL access point provider, read our
PEPPOL article:
What should I look for when choosing a New Zealand access point provider?
PEPPOL
Service provider must have PEPPOL certification
International capability
The selected provider must be able to offer services to New Zealand businesses
Diversity
The provider should be able to offer different services
Offer
Offer various connectivity options, such as AS4, SFTP, and API
Security
Ensuring the safety of the company
Notifications
Notification provision
Price
Variety of price plans to fit the budget
Implementation of the electronic invoice
Knowing the New Zealand Business Number (NZBN)
A company automatically receives this number when it registers for e-invoicing. However, the number can also be viewed on the official New Zealand Network website. Besides, companies should also know the NZBNs of all their trading partners. Also, the NZBN business match service can also be used so that one can find the NZBNs of several companies.
Select service provider
One must hire a PEPPOL-accredited service provider to connect the company to the PEPPOL network in order to enable electronic invoicing. There are two categories of service providers. One is accounting software providers that offer financial management software solutions and the other is e-invoicing service providers that ultimately connect the company to PEPPOL’s eDelivery network.
Outlook
Stay informed about legal innovations for e-invoicing in New Zealand and read our news article regularly. We will keep you informed and update our articles regularly!
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Muzaffer Havcarci
INPOSIA e-Invoicing-Specialist
