Countries around the world are embracing e-Invoicing mandates to streamline their financial ecosystems and minimize tax evasion. Mauritius is taking significant strides in this direction, embarking on a transformative journey towards a modernized business environment. The Mauritius Revenue Authority (MRA) has spearheaded this initiative, introducing a national e-Invoicing system that reshapes the operational dynamics of businesses within the country.
SunTec Business Solutions, a global product company, with its cutting-edge e-Invoicing Solution, is perfectly positioned to support this transformation, offering an end-to-end digital invoicing process that guarantees compliance, efficiency, and smooth integration with MRA’s Invoice Focalization Platform (IFP).
SunTec is the world’s No.1 pricing and billing solution and has deployed its products in more than 150 enterprises across 45 countries.
On September 18, 2023, the Mauritius Minister of Finance introduced the inaugural set of Value Added Tax (VAT) e-Invoicing Regulations under the Value Added Tax Act 1998 (VATA), further amended by the Finance (Miscellaneous Provisions) Act 2022 (FMPA 2022). This landmark decision, effective from August 2, 2022, laid the groundwork for the phased implementation of e-Invoicing in Mauritius, marking a pivotal moment in the country’s economic landscape.
SunTec Global e-Invoicing Solution is at the forefront of this transformation, providing an end-to-end digital process to ensure compliance, efficiency, and seamless integration with existing systems.
Implementing e-Invoicing presents challenges such as seamless integration with governmental networks and adapting to the unique e-Invoicing mandate, in this case Mauritius. Our solution is designed to be agnostic of the underlying transfer methods and networks. Rely on our specialized solution that is compatible with various global standards including Mauritius’ regulatory standards, thus ensuring your business is always ahead in compliance and financial transparency.
Adaptable solution that offers real-time invoice reporting, centralized and decentralized clearance, pre/post clearance, and more.
Can be deployed as standalone e-Invoicing solution or integrated e-Invoicing with VAT solution.
Automatically configures invoices based on jurisdiction and pre-built libraries of country/currency codes and tax category codes and more.
Integrates seamlessly with e-Invoice portals (including API authentication).
Streamline the process by automatically sending invoices to customers.
Includes streaming, file-based, database staging, manual upload, and online.
Allows incorporation of brand elements in invoices.
Keep up with regulatory changes to ensure continuous compliance.
Improve automation and streamline processes, thereby reducing risk of errors
Ensure time and cost savings with API-based integration
Boosts trust with customers and regulators by ensuring that the e-Invoicing process is secure, accurate and reliable
Improve financial resource planning with real-time visibility into revenue and tax liabilities
Reduce paper-based invoices, thus reducing the carbon footprint of your business
Minimize tax gap and reduce risk of non-compliance
A leading financial institution in Saudi Arabia
Adapting to Saudi Arabia’s mandatory e-Invoicing system
A two-stage implementation of SunTec’s e-Invoicing Solution, ensuring full compliance with the country’s e-Invoicing regulations
Over 1.3 million simplified invoices generated, achieving 100% compliance and setting a benchmark in the industry
Mauritius’ approach to implementing a national e-Invoicing system signifies a major step towards modernizing its business practices and aligning with international standards. This initiative holds the promise of increased transparency, tax compliance, and global competitiveness for Mauritian businesses. As the country progresses towards this digital invoicing landscape, it is crucial for businesses to prepare for the forthcoming changes and embrace the opportunities presented by this digital revolution and SunTec is happy to partner with Mauritian companies to make this possible.
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Mauritius’ approach to implementing a national e-Invoicing system signifies a major step towards modernizing its business practices and aligning with international standards. This initiative holds the promise of increased transparency, tax compliance, and global competitiveness for Mauritian businesses. As the country progresses towards this digital invoicing landscape, it is crucial for businesses to prepare for the forthcoming changes and embrace the opportunities presented by this digital revolution and SunTec is happy to partner with Mauritian companies to make this possible.
Get in Touch
A leading financial institution in the Kingdom of Saudi Arabia (KSA) was looking for a reliable and compliant e-Invoicing engine to meet the new e-Invoicing mandate in the country and move away from physical to compliant digital invoices.
SunTec Business Solutions, the world’s #1 relationship-based pricing and billing software company, today announced that Riyad Bank, one of the largest financial institutions in the Kingdom of Saudi Arabia (KSA).
