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The Digital Invoice Customs Exchange (DICE) is a revenue protection idea developed to prevent tax evasion methods such as sales suppression in domestic trade and missing trader fraud, transfer pricing in cross-border trade. As such, the implementation of this idea enables Revenue Authority to have advance notice of every commercial transaction.
CEN/TR 16931-4:2017 Electronic invoicing - Part 4: Guidelines on interoperability of electronic invoices at the transmission level (published on 2017-07-05) CEN/TR 16931-5:2017 Electronic invoicing - Part 5: Guidelines on the use of sector or country extensions in conjunction with EN 16931–1, methodology to be applied in the real environment ...
UML class diagram depicting a invoice. Electronic invoicing (also called e-invoicing or einvoicing) is a form of electronic billing.E-invoicing includes a number of different technologies and entry options and is usually used as an umbrella term to describe any method by which a document is electronically presented from one party to another, either for payment [1] or to present and monitor ...
A commercial invoice is used to calculate tariffs, international commercial terms, and is commonly used for customs purposes. Commercial Invoices are generally not needed for shipments between EU Countries—just between EU Countries and non-EU Countries. [3] Commercial invoices in European countries are not normally for payment.
The trade-weighted effective exchange rate index is an economic indicator for comparing the exchange rate of a country against those of their major trading partners. By design, movements in the currencies of those trading partners with a greater share in an economy's exports and imports will have a greater effect on the effective exchange rate. [1]
Electronic data interchange (EDI) is the concept of businesses electronically communicating information that was traditionally communicated on paper, such as purchase orders, advance ship notices, and invoices. Technical standards for EDI exist to facilitate parties transacting such instruments without having to make special arrangements.
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Suppose the U.S. exports 100 million tons of goods to Japan at a price of $1/ton and imports 100 million tons at a price of 100 yen/ton and an exchange rate of $.01/yen, so the trade balance is zero, $100 million of goods going each way. Then the dollar depreciates by 10%, so the exchange rate is $.011/yen.