The costs of the Real-Time Economy Project will be paid with the Ministry of Economic Affairs and Employment item 32.01.10. The project is included in the Sustainable Growth Programme for Finland and is part of the project package funded by the European Union’s Recovery and Resilience Facility (RRF).
The condition for RRF funding is that the set targets are met
The RRF target for the Real-Time Economy Project is to implement the smallest functional digital economy ecosystem. The target is divided into two different maturity levels. The first phase will be an e-invoicing ecosystem in 2022, which will serve as the basis for a wider digital economy ecosystem. By the end of 2024, in addition to e-invoices, procurement messages and e-receipts must move in the ecosystem.
RRF milestone achieved
In 2022, the RRF milestone “Digital economy – Real-Time Economy (RTE) programme, Minimum viable ecosystem is created and operational” was set. This involves measure FI-C[P2C2]-I[I1]-M[61] in the operational arrangements signed by the European Commission and Finland. The description of the e-invoicing ecosystem shows that the RRF milestone has been achieved, and an external, independent auditor has confirmed this.
Read the description of the e-invoicing ecosystem (pdf, in Finnish)
The foundation of the digital infrastructure of financial information
The foundation of the company’s digital economy ecosystem is built on business documents (eReceipts, procurement messages and eInvoices). In addition to the operating environment for electronic business documents, the RRF 2024 report describes the development measures for digital financial statements and the financial statement register, as well as the target state of financial information sharing and reporting, which enables the transfer of financial information from companies to authorities in accordance with the once-only principle. The report fully verifies the implementation of the RRF targets set for the end of 2024 for the measures under the Finland’s Recovery and Resilience Plan.
Read the report: RRF 2024, Taloustiedon digitaalisen infrastruktuurin perusta RRF-toimenpide (pdf, in Finnish)