CORDIS Project
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This project addresses invoicing fraud by creating a blockchain-based system for registering invoices. It aims to enhance transparency and security in VAT processes, ultimately reducing fraud and improving economic efficiency.
Tax Authorities and factoring agencies in the EU are the victim of billions of Euros in invoicing fraud every year, and there has not yet been any good solution in sight.
Until now.
There were many attempts to solve the problem but none achieved consensus amongst all EU Member States.
This tremendous societal problem is back in the focus of Member States and the European Commission.
We solve this problem once and for all by creating a single source of truth for invoices.
Tax Authorities will use…
SUMMITTO BV
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