Explained
The real change is not that an invoice became digital but that it became verifiable: an agreed format, a chain linking each invoice to the one before it, and a hash or signature that exposes any later edit. National schemes differ widely in what they require and when, and what applies in one country should never be assumed to apply in another.
Related terms
- Tax invoiceA tax invoice is issued by a VAT-registered seller and shows the value of the goods or services, the VAT on them and the seller’s tax number.
- InvoiceAn invoice is the document in which a seller asks a buyer for the price of what was delivered, listing the items, their quantities and prices, the tax and the total due.
- Value added tax (VAT)Value added tax (VAT) is an indirect tax charged on goods and services at each stage of sale and borne by the final consumer.