Thursday 26th March, 2020
Introduction of the new Finnish e-Invoicing Act will be postponed due to the COVID-19 outbreak. E-invoicing formats that do not line up with the Act will be accepted until further notice, but businesses are still encouraged to align with the EU standards as soon as possible.
The Finnish Government has decided to make an amendment to the upcoming eInvoicing Act (241/2019) which enters into force on 1 April 2020, owing to the exceptional circumstances surrounding the COVID-19 outbreak.
The new Act will give both government entities and businesses in Finland the right to ask their counterparts for e-invoices in line with the EU standard. The new legislation is in line with the e Invoicing Directive (2014/55/EU).
The Finnish State Treasury announced in a press release that although the Act stipulates EU-compatible e-invoice formats as of 1 April 2020, the deadline will be pushed back and older formats that do not meet the standard will be accepted until further notice, owing to the COVID-19 outbreak. However, businesses are encouraged to switch to e-invoicing in line with EU standards as soon as possible.
According to Pagero, Invoice formats that already comply with the EU norm are the nationally used Finvoice 3.0 and TEAPPSXML 3.0, and international standards such as Universal Business Language (UBL) and Cross Industry Invoice (CII). Other formats are acceptable as long as they are aligned with the legal requirements.