Ecuador to issue 2,000 million e-invoices a day in 2015
“Can I have your e-mail address?” This is a question repeated in Ecuador on a regular basis whenever customers ask for an invoice. Whether in a routine visit during the midday break, going to your usual restaurant for lunch, or in any business where a necessary purchase is made. The reasons this question is the gradual rollout of electronic billing in Ecuador, set to reach 2000 million e-invoices daily, as reported by the Internal Revenue Service (SRI).
So what is the outcome? If in the course of your daily routine you've had to provide your e-mail address, you will be ready to receive your first digital invoice, with all the advantages this entails. Thanks to the electronic invoicing system, the number of physical documents is reduced, avoiding the use of paper when complying with tax obligations and encouraging environmental friendliness.
2015 will be a year of expansion for e-invoicing in Ecuador, reaching out to 15,000 taxpayers who will switch over to using this system, compared to the 760 taxpayers signed up in 2014, according to data from the SRI. Until last November, over 134 million electronic invoices were authorized, a figure which, according to this public body, will continue to rise throughout this year.
At the end of the day, having to provide your e-mail is bound to become merely anecdotal, an everyday occurrence each time we ask for an invoice, given the inexorable progress of the e-invoicing incorporation process in Ecuador. January 1st of the new year was the deadline for the final phase of the private sector's mandatory switchover to electronic invoicing, a process that began in August and now also includes taxpayers engaged in export activities or those making sales online, among others.
Also due to start up in 2015, the rollout of e-invoicing in Ecuador’s Public Administration will be carried out in three phases: the first began on 1st January and is currently up and running; launching of the second stage is scheduled for 1st April; and the final phase begins on 1st July.
Your e-invoice with EDICOM
With the aim of encouraging Ecuadorian taxpayers to take up e-invoicing, even those not required to do so, EDICOM has developed an International e-Invoicing Platform. Through this it is possible to generate, send and store electronic invoices in compliance with the specific demands of Ecuador. With this solution, in addition to saving paper, businesses cut down their collection times and improve administrative efficiency, as this billing process is carried out automatically.