Australian and New Zealand Agencies responsible for treasury, business affairs and digital development have issued a discussion paper exploring the options for introducing electronic invoicing across their economies.
Managed by Treasury in Australia, the joint consultation project is looking at the governance arrangements necessary to progress a common e-invoicing framework on both sides of the Tasman.
In a statement, Treasury said the introduction of a common e-invoicing approach would make it faster and easier for businesses in both countries to interact and transact with each other, and with Government.
It said a joint officials’ working group had been formed that included the Australian Taxation Office, Department of Industry, Innovation and Science, the Department of Jobs and Small Business, the Digital Transformation Agency, the Australian Treasury; and the New Zealand Ministry of Business Innovation and Employment and Office of the Government Chief Digital Officer.
Representatives from Australian State and Territory Governments were also participating.
The discussion paper focuses on four areas.
Legal considerations: What is considered to be the significant policy or legal barriers to the implementation of e-invoicing in Australia and/or New Zealand?
Legal personality, continuity and limited liability: The best legal structure for the operational governance body.
Government and industry participation in operational governance: Who should lead the operational governance of trans-Tasman e-invoicing, and what functions and roles should the operational governance arrangement include.
Operational sustainability: The best model of long-term sustainability of the operational governance of trans-Tasman e-invoicing.
Australian Small Business and Family Enterprise Ombudsman, Kate Carnell welcomed the development.
“Research shows it costs $30.87 to process a paper invoice, $27.97 per PDF invoice and only $9.18 per e-invoice,” Mrs Carnell said.
Consultation is open until 16 November and the 12-page discussion paper can be accessed at this PS News link.
