Latin America at the forefront of electronic invoicing
Electronic invoicing is currently in full expansion worldwide. According to Billentis, this year roughly 40 billion invoices will be exchanged in this format. Of these, more than half, about 25 billion, correspond to Latin America. This region has already become the most advanced in the field in the international scope, due to the fiscal policies carried out by the governments of the various states.
Along with Mexico, Brazil has one of the highest rates of uptake. According to Billentis, in this case the figure is around 90 %. This is due to strict legislation rolled out some years ago, which requires a large number of taxpayers to use the digital document known as Nota Fiscal Electrónica (NF-e).
In the group of e-invoicing early adopter countries, we must not forget Guatemala. There, since 2013, the FACe scheme is mandatory for all individuals or legal entities classified as special taxpayers.
Ecuador has adopted a similar model to these countries and is currently immersed in the process of rolling out electronic invoicing. On 1 October, the first taxpayer group signed up and the rollout of electronic invoicing is expected to be completed in 2015.
Another new feature this year is the announcement by the Costa Rica Ministry of Finance of a new project for mandatory e-billing and e-signature. The new system, which still has no release date, will replace the setup rolled out in 2013 to ensure information processing.
Over the coming year, electronic invoicing is expected to keep on growing worldwide. The policies promoted in the Latin American states are already configured as a role model for many European and Asian countries, such as Vietnam.
International Electronic Invoicing Platform
Companies operate in a global environment with partners and customers from different countries and regions. It is indispensable to have e-invoicing solutions tailored to this market situation. EDICOM offers businesses an electronic invoicing platform with permanent monitoring of the state of the laws and regulations in the countries concerned. The result is an e-Invoicing solution ready to issue legally valid electronic invoices anywhere in the world, transparently for our clients, as the data used to build the files (CFDI, NFe, DTE, Facturae, Fattura PA…etc), are taken automatically from the company’s own ERP or accounting system.