CFDI: Mexico’s Electronic Invoicing Model That’s Become a Reference Across all of Latin America
The electronic invoice in Mexico took its first steps in 2004 when the SAT (Tax Administration Service) created the legal framework that defined the implementation of the CFD (Digital Tax Receipt).
Over a short span of time, the use of the CFDI has become compulsory in e-accounting throughout Mexico, used in 100% of economic transactions.
This success has led governments across Latin America to develop their electronic invoicing systems, using the Mexican system as a reference.
The e-Invoicing system in Mexico is a success story thanks to its heavy promotion that allowed it to reach out to the entire Mexican population in just a few years. Mexico, Chile and Brazil are the most advanced countries in LATAM in regards to e-Invoicing and are all inspiring other countries to develop electronic invoicing models.