The link between €8 billion in uncollected VAT and CO2 emissions.

Milano, July 4, 2024. According to a European Commission report, in 2021, member states lost around 61 billion euros in uncollected VAT, of which over 8 billion in Romania alone. Our country thus ranked third among European states in terms of non-collection of VAT, i.e. the difference between forecasted and actual VAT revenues. In this context, after Romania introduced the e-invoice from January 1, 2024 – the mandatory inter-firm electronic invoice, the company InfoCert from Italy, part of the Tinexta group, launched the Legalinvoice solution in our country, dedicated to authorized natural persons, but also small and medium-sized enterprises and available in three different versions: Legalinvoice Go!, Legalinvoice Start and Legalinvoice Extra.

“Electronic invoicing has now become one of the main regulatory trends in Europe and beyond” – said Danilo Cattaneo, CEO and General Manager of InfoCert – Tinexta group. “More and more countries are actually introducing mandatory e-invoicing, especially for companies and authorized individuals. This unstoppable trend will allow us to expand beyond the European perimeter. In particular, with regard to Romania, – adds Cattaneo – we have been working for some time on large projects for multinational companies, proposing our dedicated solution “Legalinvoice Hub”, which can be integrated with clients’ ERP systems and directly connected with the ANAF platform. Now, the time has come to bring our simple and reliable mass market solutions to this booming new market”

 

Electronic invoicing also generates advantages in terms of operational efficiency, flow control, elimination of costs and risks associated with sending and storing paper documents. The contribution to environmental sustainability is significant: in Italy, for example, InfoCert managed the e-invoicing processes of more than 61,000 businesses, which meant a volume of 186 million e-invoices registered through the Legalinvoice solution in 2023, which saved around one million trees from being cut down and reduced the environmental impact by 8,000 tonnes of CO2 – equivalent to the CO2 emissions produced by almost 6,500 small cars, if they drove 10,000 km each, per year.

How Legalinvoice works

With Legalinvoice it is possible to manage the entire invoicing cycle, both active and passive, from a single web platform, but also processes that may be collateral (for example the generation of documents such as estimates, pro forma invoices, etc.), respectively the management payments, management of supplier records, etc. Legalinvoice is therefore an easy-to-use solution that allows you to manage all these steps in an integrated way, as well as to be connected to ANAF and the SPV (Virtual Private Space) system. In addition, no other technological integrations or special technologies are required to access the web platform.

At the same time, InfoCert also offers other services such as digital signature (in Italy, for example, it is used in electronic invoicing, before the invoice is sent) and electronic archiving for long periods of time.

InfoCert SpA
InfoCert, Tinexta Group, is the largest European Certification Authority, active in over sixty countries. The company offers process digitization, digital Onboarding, eDelivery (PEC), digital signature and digital document preservation services and is an AgID accredited manager of digital identity within SPID (Public System for Digital Identity Management). InfoCert invests significantly in research, development and quality: it holds more than twenty patents, while ISO 9001, 27001 and 20000 quality certifications demonstrate its commitment to the highest levels in service delivery and security management. The InfoCert information security management system is ISO/IEC 27001:2013 certified for activities EA:33-35. InfoCert is a European leader in providing Digital Trust services that fully complies with the requirements of the eIDAS Regulation (EU Regulation 910/2014) and ETSI EN 319 401 standards and aims to grow more and more internationally and through acquisitions: it owns 100% of CertEurope, the largest Certification Authority in France, 51% of Camerfirma, one of the main Spanish Certification Authorities, 16.7% of Authada, a German state-of-the-art identity provider, 65% of Ascertia, a company UK among the market leaders in cryptographic and digital signature solutions. Finally, InfoCert owns 80% of the shares of Sixtema SpA, the technology partner of the CNA world, which provides technology solutions and consulting services to SMEs, trade associations, financial intermediaries, firms and professional organizations.
TINEXTA SpA

Tinexta is an industrial Group that offers innovative solutions for the digital transformation and growth of companies, professionals and institutions. Listed on the Euronext STAR Milan (MIC: MTAA), it is included in the European Tech Leader index as a high-growth tech company. Based in Italy and present in 12 countries from Europe to Latin America with over 2,500 employees, Tinexta is active in the strategic Digital Trust, Cyber Security and Business Innovation sectors.
As at 31 December 2023, the Group reported consolidated revenues of € 395.8 million, Adjusted EBITDA of € 103.0 million and Net profit of € 69.9 million.
tinexta.com | stock index: TNXT, ISIN Code IT0005037210