Tungsten Approved By Italy Tax Authority As B2B E-Invoicing Platform

LONDON (Alliance News) - Electronic invoicing solutions provider Tungsten Corp PLC said Friday it ...

Alliance News 16 November, 2018 | 11:35AM
Email Form

LONDON (Alliance News) - Electronic invoicing solutions provider Tungsten Corp PLC said Friday it completed the final testing with the Italian tax authority, the Sistema di Interscambio, to become a fully registered intermediary for B2B e-invoicing in Italy.

After securing the SdI intermediary registration, Tungsten customers can now transact electronically with the Italian tax authority ahead of the country's mandatory B2B e-invoicing deadline in January.

Back in March, the Italian government announced that all businesses registered in Italy would have to send invoices and documents electronically via the SdI from January.

The changes aim to improve efficiencies and enhance tax revenues in Italian business-to-business transactions, Tungsten explained.

Chief Executive Officer Richard Hurwitz said: "Tungsten Network's mission has always been to provide our customers with a secure platform that enables them to comply with the ever-changing tax and regulatory landscape while achieving efficiencies in their P2P processes. Today, with our certification as an authorised intermediary of the SdI, we take a significant step towards fulfilling that mission.

"We anticipate that other countries will follow Italy's lead, and we will continue to work with global tax authorities to stay ahead of statutory changes as they inevitably occur."

Tungsten shares were trading up 1.6% at 38.40 pence each.

By Elena Cherubini; elenacherubini@alliancenews.com

Copyright 2018 Alliance News Limited. All Rights Reserved.

Email Form
Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Rating
Tungsten Corp PLC 23.00 GBX -4.37 -
About Author Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.