Do you need to invoice businesses in Canada?
If you answered yes, you may need electronic invoice processing.
Transalis eInvoice™ is a trusted provider of digital invoice processing with companies in Canada
More and more countries, including Canada, are looking for new ways to streamline their processes, eliminate tax avoidance and collect more VAT. Already across the EU, government and public sector organisations are required to use B2G eInvoice processing, and B2B suppliers are being encouraged do the same.
An eInvoice solution from Transalis will streamline your invoice processing with trading partners in Canada.
- Reduce time spent on administrative tasks
- Improve accuracy and minimise disputes
- Remain compliant with complex cross-border regulatory and tax requirements
- Automate invoice validation
- Speed up the entire billing process
eInvoicing in Canada
eInvoicing with Transalis eInvoicing in Canada
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If you have any questions just get in touch. Our team of expert consultants are on hand to help with anything you need.
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Canada eInvoicing regulations
Canada has adopted a post audit model.
This model relies on random audits executed by the tax authorities for a certain time period after the transaction. Electronic invoicing is legal in Canada, but it is not required by law or mandatory.
In 2017 e-invoicing was introduced in Canada once they adopted UBL (Universal Business Language) as a national standard. The Canada Revenue Agency (CRA) has since promoted the use of electronic invoices in the country. Canada is also member of the Peppol Network.
All in all, the country is moving towards an e-invoicing system and preparing for the full implementation of electronic invoicing in Business-to-Business (B2B) and Business-to-Government (B2G).
Today, e-invoice requirements according to The Canada Revenue Agency (CRA) are:
• The storage process must guarantee and store the accuracy, security and integrity of the data before the exchange or processing of any invoices.
• Documents describing the relevant business and operating system, as well as documents that include the way transactions are processed and managed, must be stored by trading partners.
• Data exchange standards compatible with CRA’s audit software are used for this process.
• Companies and organizations must store back-up data.