OFS Portal has provided the EU Committee for Standardization with a code of practice for e-invoicing in the European Union to facilitate adoption of e-commerce in Europe. CEN (Europe’s Committee for Standardization) was asked by the Commission to develop a framework of best practices for trading parties, service providers and public authorities. OFS Portal CEO Bill Le Sage said, ‘As representing the needs of the oil and gas industry, we were pleased to assist CEN in its efforts and bring our global experience to bear. The code of practice is a benchmark for the rest of the world.’
Key concepts for the code of practice—e-invoices should be formatted with royalty-free standards from international standard organizations, service providers should pledge that data transmitted will be kept confidential. Audit controls should be proportionate to the taxable persons’ individual circumstances. The best practices are available as CEN workshop agreements on 2401. More from dwallis@ofs-portal.com.
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