Wednesday 5th November, 2014

The Turkish Ministry of Finance has announced a saving of 650 million Turkish Liras ($293 million) of extra costs and prevented 100,000 trees from being cut after implementing an e-invoicing system.

The e-invoicing system, has been used in Turkey since 2010, to help reduced costs for the taxpayers, curb illegal financial activities and contributed to preserving the environment by reducing the need for paper.

Taxpayers that obtain e-archive permission from the Revenue Administration will be able to store invoices electronically.

Finance Minister Mehmet Şimşek, expects the number of taxpayers using e-invoicing, which was approximately 20,000 on 31st October, to double after the full implementation of the e-archive system, set for 30th December, 2014.