Everything about CFDI (Mexican Electronic Invoice)
As of 1 January next year, the CFDI will be the mandatory schema for electronic billing in Mexico, according to the 2nd set of Amendments to the Omnibus Tax Ruling(RMF) approved by the Tax Administration Service (SAT).
This new system will mean the totaldisappearance of the previous electronic billing model, CFD, the scheme with which hundreds of Mexican companies still operate. Moreover, this modification increases the number of taxpayers that will have to use electronic invoicing.
The main difference between CFD and CFDI is that the latter stipulates the outsourcing of an Authorized Certification Provider (PAC) charged with validating the invoices before forwarding them. The CFDI is thus a more secure billing scheme that makesit possible to carry out the processes automatically.
Unlike with the CFD, it will no longer be necessary to request the folio and serial number of each invoice, or declare the receipts to the SAT, as the Authorized Certification Provider will be responsible for these tasks.
If you would like to know more about the changes involved in the CFDI, simply download the White Paper, where we also explain the steps to follow to migrate to the new electronic billing scheme.