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CFDI grows 160,9 % in 2014

28/01/2015

2014 was a particularly important year for e-invoicing in Mexico. In figures from the Tax Administration Service (SAT), between January and November 4,521.9 million Digital Tax Invoices via Internet (CFDI) were issued, whereas for the same period in 2013 the figure came to only 1733.5 million. This translates as 160,9 % growth in electronic billing.

The overall spread of CFDI use in Mexican society is mainly due to the fiscal policies rolled out in 2014. The majority of taxpayers are required to use this mandatory system, which cuts down economic costs and the use of paper, as well as improving the fight against tax evasion.

Mexico was the second state in the Americas to develop an electronic billing model (Chile was the first). As early as 2004, the SAT designed what it designated the Digital Tax Receipt (CFD) as an alternative to paper bills, which was finally replaced last year by the CFDI. In total, throughout this decade, 14,310.1 million CFDI invoices have been issued in Mexico . This is why it is internationally considered a leading country in implementation of the system.

Forecasts point to ongoing growth of CFDI. The number of invoices issued daily is now estimated at over 13 million. In this increase, Authorized Certification Providers (PAC) like EDICOM play a major part. An essential figure in the process of generating and sending invoices, streamlining procedures and giving legal validity to each of the documents. In fact, in 2014, the PACs boosted invoice issuing by 224 %.

From now on, the CFDI has to face new challenges and opportunities, such as electronic dissemination of electronic invoices issued, creating an environment for interaction between fully electronic senders and receivers, or the integration of new electronic transactions into the business communication flow, such as purchase orders or dispatch advices. The aim is for an increasing number of businesses to make use of the technology to save time and money.

 

Do you already benefit from CFDI?

EDICOM, as the first PAC in Mexico, has developed different technology solutions to make the most of the advantages CFDI provides. Ranging from sending and receiving platforms that automate the process, to employee CFDI solutions which enable payroll management in this format quickly, securely and efficiently.

Would you like to find out more?


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