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Electronic credit invoice MiPyMes (FCE) begins mandatory implementation in Argentina

18/02/2019

The MiPyMes Electronic Credit Invoice (FCE) becomes mandatory in Argentina with the aim of promoting the financing of micro, small and medium-sized businesses. It will replace the deferred check used until now.

The Federal Administration of Public Revenue (AFIP) has launched the MiPyMes Electronic Credit Invoice Regime, as set forth in resolution 5/2019, published in the official State Gazette. From May 1, to September 2019 different sectors will gradually join the scheme.

Use of the FCE is regulated in the RG 4367 within the framework of Law 27,440, through the resolution of the Ministry of Production and Labour (MPYT) Nº. 209/2018 and the joint RG 4366 between AFIP and MPYT.

Use of the FCE is indicated for invoices type A, B and C, with their respective credit and debit notes.

Electronic Credit Invoice rollout schedule

Resolution 5/2019 provides that, exceptionally and for a period of one year from the date set for each case, the regime will be applicable to invoices issued for a total amount equal to or greater than the sum of $50,000 per invoice, without considering subsequent adjustments for credit or debit notes.

  • 1 January 2019: Credit invoicing (factoring) with companies in the automotive and auto parts sector. From January 1, 2019, the use of FCE will be required in all operations taking place between an SME and a large company in the automotive sector and between an SME and an SME attached to the system. However, use among SMEs will be optional. Check this link to see if the recipient of your invoices or your supplier is a large company.
  • 1 May 2019: Manufacturing industry; wholesale and retail trade; motor vehicle and motorcycle repairs; supply of electricity, gas, steam and air conditioning; water supply and sewage; waste management and recovery of materials and public sanitation; financial intermediation; and insurance services.
  • 1 June 2019: Mining and quarry operations.
  • 1 July 2019: Construction and transport.
  • 1 August 2019: Real estate services; teaching; healthcare; social, artistic, cultural, sports and leisure services; association and personal services; and agriculture, livestock, hunting, forestry and fishing.
  • 1 September 2019: Accommodation and food services, professionals, scientists and technicians, administrative activities, and support services, information and communications.

To access Resolution 5/2019, click here.

What do I need to be able to work with FCE?

Whether you are a receiver or an issuer, you must have the Electronic Tax Domicile (DFE) set up.

In addition, issuers of electronic credit invoicing must register a CBU, which is where the amount discounted from the invoice will be deposited.

How to issue FCE?

  • Through the service with fiscal key Online Invoices.
  • Or integrated, via EDI, through the WebService based exchange of information.

Who takes part when issuing the FCE?

  • The vendor, which will be the SME.
  • The buyer, which will be the large company.
  • Caja de Valores, which is the Collective Deposit Agent.
  • AFIP, which regulates and controls the process and notifies the participants.

How does the electronic credit invoice or FCE work?

If a supplier issues a bill to a large company and states in the invoice that the payment is to be made by credit, the supplier may choose between issuing an electronic credit invoice (FCE) in order to cash in the invoice in advance through the electronic Tax Domicile portal, or wait until the company pays up.

Through this portal, the AFIP notifies the recipient of the issuance of an FCE. The recipient must then accept or reject this invoice.

  • MiPyMEs electronic credit invoices can only be rejected within 10 calendar days counted as of their reception in the DFE and for any of the reasons provided in Article 8 of Law Nº. 27,440.
  • The recipient has a maximum of 30 days to accept the FCE once it is received. Once this period has elapsed, it is taken to be accepted. When the electronic credit invoice is accepted, the cancellation method must be reported and may be full cancellation or partial cancellation.
  • If there are any debit or credit notes linked to the invoice, the buyer, tenant or borrower must accept or reject them at the time of acceptance.

The FCE will be transferred to a Collective Deposit Agent (Caja de Valores) who will deposit the money in the CBU account.

In addition, the AFIP notifies the buyer of the new address of the invoice payment.

How to automate reception of FCE and notifications from AFIP?

Through a service such as that provided by EDICOM, large companies can receive automated and integrated information on the status of their bills.

Our solution is able to connect with the AFIP and the DFE to integrate the FCE information FCE into the ERP and, likewise, integrate the invoice.

Would you like to find out more?


Ask for information.

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