Israeli B2B e-invoicing launch pushed back
Israeli Revenue Service’s (IRS) ambitious plans to launch a B2B e-invoicing system are facing a delay once again. This time, the initial phase of the invoicing mandate was delayed by a month, that is until May 5th 2024.
Adapting to the upcoming requirements requires extensive technical works as well as a passing a thorough registration process. There have been numerous reports by future major stakeholders, both invoicing service providers and individual companies, that the public infrastructure has still not been made fully available. This effectively prevented users from achieving full compliance with the upcoming requirements.
The IRS plans to introduce the B2B e-invoicing mandate in 5 phases for based on value of specific transactions:
- Phase 1 – May 5th 2024 for transactions exceeding 25,000 NIS
- Phase 2 – January 2025 for transactions exceeding 20,000 NIS
- Phase 3 – January 2026 for transactions exceeding 15,000 NIS
- Phase 4 – January 2027 for transactions exceeding 10, 000 NIS
- Phase 5 – January 2028 for transactions exceeding 5,000 NIS
There’s more you should know about global e-invoicing changes – learn more about the new and upcoming regulations.
