Regulatory updates - New Zealand

Peppol released updates to its specifications and validation documents, including A-NZ Invoice and Self-Billing specifications v. 1.0.12, PINT A-NZ v1.1.0, and Peppol BIS Billing v3.0.18.

The changes include alignment with the latest Peppol BIS Billing version, updates to code lists and validation artefacts, and new compliance rules for sender/receiver identifiers in the Peppol Business Message Envelope (SBDH).

Updated guidance documents are available to facilitate the implementation of these changes, particularly in Australia and New Zealand.

Learn more about the recent updates here.

On November 18, 2024, the Ministry of Business, Innovation & Employment (MBIE) released rules on “Improving government payment times for domestic trade invoices and uptake of e-Invoicing”. These new Government Procurement Rules include payment deadlines such as 5 business days for e-invoices and 10 business days for invoices.

Currently, the MBIE’s e-invoicing team is conducting an ongoing consultation with government suppliers and the business community on potentially requiring e-invoices for billing government agencies. Reporting on this is due back to Cabinet by February 2025, and any additional requirements would be proposed as part of the wider review of the Government Procurement Rules that are underway.

What is more, there has been an increase in the interest of businesses in New Zealand in issuing and receiving e-invoices. The number of businesses registered to receive e-invoices has doubled, increasing from 23,000 businesses in October to over 50,000 in November. In addition, the number of large businesses sending e-invoices has increased.

Some of the benefits of e-invoicing exchange include reducing administrative work and costs and improving record accuracy.

The New Zealand government introduced a measure to enhance payment timelines for small businesses and increase the adoption of the eInvoicing framework (invoice digital exchange via Peppol) among government organizations and enterprises.

The new rules mandate that government agencies implement the following by 1 January 2026.

• eInvoicing sending capabilities: government agencies issue over 2 000 domestic trade invoices each year;
• eInvoicing receiving capabilities: government agencies receive more than 2 000 domestic trade invoices annually;
• Ensure that 95% of domestic trade e-invoices are paid within 5 business days, and report payment times to MBIE (Ministry of Business, Innovation & Employment, also New Zealand Peppol Authority). Additionally, agencies are required to pay other invoices within 10 business days as of 1 January 2025.

Businesses that engage with government organizations can anticipate that eInvoicing will soon become a standard practice. These new rules also offer an additional cash flow incentive for sending e-invoices to the government.

Furthermore, the government will consult businesses about a new rule mandating certain suppliers to submit e-invoices. The results of this consultation will be reported to the Cabinet in February 2025.

Pagero has been listed as an eInvoicing Access Point provider in New Zealand. Businesses can already exchange invoices with the public entities with Pagero.