Israel steams towards introducing an e-invoicing and reporting mandate in 2024
Israel's concrete plans for implementing an e-invoicing system position the country within a rapidly expanding group of countries, modernizing their tax compliance through next-generation solutions. Read more to grasp the broad scope of the changes soon to come.
Recent releases from the Israeli Tax Authority (ITA) slightly delayed the previous system introduction schedule.
E-invoicing Implementation Timeline
The e-invoicing mandate is set to be introduced in several stages starting in April 2024 for invoices valued at over 25,000 NIS. Further implementation is planned to be conducted according to this preliminary schedule:
- 1st April 2024: invoices over 25,000 NIS (~ 6,200 EUR)
- 1st January 2025: invoices over 20,000 NIS (~ 4,900 EUR)
- 1st January 2026: invoices over 15,000 NIS (~ 3,700 EUR)
- 1st January 2027: invoices over 10,000 NIS (~ 2,450 EUR)
- 1st January 2028: invoices over 5,000 NIS ( ~ 1,250 EUR)
The first year of the mandate is planned to be a “pilot” year, allowing participants and authorities to develop their systems and work out any potential issues arising from their use. However, ITA stresses that in 2024, the system will still be fully operational for its participants, with the sole distinction being that all allocation number requests shall receive automatic approval.
How can Comarch help?
Thanks to the invoicing abilities offered by adopting an API, it will be possible to seamlessly process all relevant invoices, eliminating unnecessary paperwork and any associated errors.
Moreover, this will create an opportunity to integrate the e-invoicing process with your current ERP, CRM, or broader EDI systems and provide your business with a holistic document processing solution.
Comarch consistently proves to be a reliable, well-informed, and prepared expert in managing e-invoices and other dematerialized documents. Our company is in line with different e-invoicing requirements in Asia, the Americas, and Europe, with a proven track record of providing a wide range of e-invoicing solutions across the board.
There’s more you should know about global e-invoicing changes – learn more about the new and upcoming regulations.
