On November 1, the initial deadline set by the Chilean Internal Revenue Service (SII) for migration to electronic invoicing expired. The first to adopt this system were big businesses with annual turnover of over 100,000 UF, equivalent to roughly 2,427 billion Chilean pesos. In total, it is estimated that this requirement affects around 7500 companies.
With these changes, the rollout of electronic invoicing (DTE) as the mandatory billing method will not be completed until 2018. However, the adoption rate of this system is high and continues to grow. In fact, Billentis Consulting highlights Chile as one of the worldwide leaders in e-invoicing, alongside Mexico, Brazil, Portugal and Scandinavia. The IRS figures confirm it: in 2013, some 24,153 companies began using the DTE and 247 million of these electronic documents were processed. This represents more than half of the invoices issued in the country.
We must bear in mind that Chile was one of the first states to roll out e-invoicing. Chilean taxpayers have been able to sign up to the DTE voluntarily for over a decade and migration to the new system has been taking place gradually ever since 2003. Under the new ruling, within just four years 100% of taxpayers will be using this system.
After the migration of large companies, SMEs located in urban areas earning more than 24000 UF per annum now have a period of 1 year and 9 months to switch over to the DTE. In other words, until August 1, 2016.
How to issue DTE?
The rollout of DTE creates economic benefits in businesses, due to automation of the procedure and the savings achieved on postage, ink, envelope, stamps, paper and infrastructure, etc. For maximum ease of implementation, EDICOM has developed an electronic billing platform that generates, sends, receives and stores DTE, according to the requirements laid down by Chilean law. In addition, there is also an electronic communication service with the Chilean IRS for tax returns and invoice statements via Internet.