The Ministry of Finance of the Republic of Cyprus decided to proceed with the adoption of e-Invoicing in Cyprus. This indicated the initial effort to overdue the gab since until to this point no specific actions or activities have been done in terms of e-Invoicing in the transactions of Business to Business or Business to Governance.
The aim of the project is to enable a solution that will allow the establishment of the e-Invoicing building block by using two major components that will enable Businesses to send electronic invoices to the Government. This will be achieved by adopting the European and International standards and through the authorized PEPPOL access point. For more convenience and saving of resources, it was decided to use the pre-existing PEPPOL infrastructure.
Further to the above, the platform will be ready to connect to any EDI Value Added Network, allowing therefore European Businesses to send electronic invoices to the Cypriot governmental authorities and businesses. The platform that will be used is already available on the market and allows cross-border exchange of electronic Invoices.
For the integration of the platform, piloting action will be carried out through the customizations on the SAP Enterprise Resource Planning (ERP) System of the Cyprus Post.