Australia has adopted a cutting-edge electronic invoicing system, establishing itself as a Peppol Authority. This newly implemented system leverages the Peppol framework, revolutionizing the way electronic invoices are exchanged. Since 2019, public and private entities across the country have been equipped with the capability to seamlessly send and receive e-Invoices via the PEPPOL platform.
The Peppol framework provides a standardized network that not only streamlines the invoicing process but also facilitates the electronic exchange of various essential documents. This includes invoices, purchase orders, dispatch advice, purchase documents, credit notes, and debit notes, creating an efficient and paperless ecosystem for businesses and government agencies to interact.
As of the latest update, The Australian Department of Treasury maintains its unwavering commitment to promote the widespread adoption of PEPPOL-based BIS Billing 3.0 for electronic invoicing in the realm of business-to-business (B2B) transactions.
In its current agenda, the government aims to introduce legislation that would give taxpayers the power to require their Australian-based business customers to accept Peppol e-invoice. This phased approach is anticipated to unfold as follows:
- Step 1: Any company will have the prerogative to mandate that their major business partners (with turnovers exceeding AUD 50 million) must provide PEPPOL e-invoices.
- Step 2: The same mandate will extend to medium-sized businesses (with turnovers ranging between AUD 10 million and 50 million).
- Step 3: Eventually, the requirement will encompass all suppliers, regardless of their size or turnover.
This approach is observed as the government supports the gradual expansion of the scope of e-invoicing with businesses involved in the process and seeks to facilitate the adoption of electronic invoicing in the Australian business environment.
