In the context of the Corona crisis, the German government decided to temporarily reduce the value added tax. The rate is to fall from 19 to 16 percent and the reduced rate from 7 to 5 percent.
This draft law is intended to help ease the economic consequences of the pandemic. The reduced VAT rate is to apply from 1 July 2020 to 31 December 2020.
A positive aspect is that this measure will have a cross-sectoral effect and an economic stimulus is expected. Nevertheless, the Federal Ministry of Finance has conceded that these temporary changes will cause considerable additional expense for companies. Companies would now have to change all their invoices for six months, which would involve an enormous amount of bureaucracy.
Only three weeks remain to adjust the tax rates for all invoices with recipients in Germany. This means a considerable additional workload, especially for companies with business partners and suppliers in Germany. The INPOSIA team is ready to work with you to ensure timely implementation. While you make the adjustments in your ERP system, we take care of the partner connections for electronic invoicing (EDI, FACTUR-X/ZUGFeRD).
INPOSIA works particularly quickly and spontaneously so that we can efficiently help you to convert your invoices within the next 21 days. Regardless of whether you write invoices daily and want your system to be converted from the beginning of the month, or you have until the end of the month, we will make sure that you can meet all deadlines.
Even if you already have an EDI service provider, we know the challenge when other providers cannot process such short-term requests quickly enough. Therefore, do not hesitate to call on us as an additional provider to shorten waiting times.
Our EDI experts will be happy to help you! Contact us today!