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Electronic invoicing in Chile

07/05/2015

Since the United States-Chile Free Trade Agreement was signed back in 2004, eliminating tariffs and opening the market, Chile has become a promising land for those turning to Latin America in the search for business opportunities. Not in vain, Chile ranks high on the international indices relating to economic freedom and was the highest ranked country in terms of competiveness in Latin America, according to the World Economic Forum’s Global Competitiveness Report 2009-2010.

In many aspects, Chile has economically been one of the most outstanding Latin America countries, and a proof of this is the fact that back in 2003 the Chilean Administration became the first one to roll out an electronic invoicing model, which has been followed as a model by other countries like Brazil.

Even if this e-Invoicing model started off as optative, it became mandatory in January 2014 according to the transitory article 1 of Law nº 20.727, which means that companies settled in Chile, or businesses planning to expand to this country, must be familiar with the DTE model.

E-invoicing in Chile: The DTE model

In Chile, an electronic invoice is much more than a digital version of a bill. These documents are known as Electronic Tax Document (DTE), and follow a pre-established format. The also include several digital authentication features that guarantee the authenticity and integrity of this document. This way, electronic billing is not only just as valid as a paper-based invoice, but also a trustworthy document that is used by the Administration for tax control purposes.

This model has been gradually embraced by companies since its release. According to the Internal Revenue Service (SII), over 24,100 companies joined the system in 2013, 36 % more than in 2012. In total, 247 million DTEs were processed that year, a figure that represents more than half of the bills issued in the country.

The arrival of the mandatory system means a progressive evolution into a complete adoption of digital invoicing, which will conclude in February 2017 with the inclusion of micro businesses into the DTE model.

How is a DTE created? 

First of all, companies must sign up by applying to the SII to be able to issue DTE. The issuer must obtain a Folio Authorization Code (CAF), which will be used to construct the electronic certificate that will be included in the DTE.

Once this is achieved, the process can be made easier with the help of an e-Invoicing solutions provider, such as EDICOM. The electronic invoices are automatically created through the synchronization with the companies’ ERP.  It is then validated and completed with an electronic signature and electronic certificate to be then transformed into an XML format. The DTE will be submitted to the SII, who will reply with a confirmation. ¡Only then it will then be ready for delivery!

Solutions to make DTE easier

For small companies and small taxpayers who issue few electronic documents, the SII has developed the MiPyme tool, which can be used to release electronic invoices. However, larger companies may urge for a broader solution.

This is why EDICOM’s Chilean e-Invoicing solution is ready to go across all the steps towards successful DTE issuing, adapting itself to the magnitude of the company. The delivery system is furthermore ready to reach both B2B partners through EDICOMNet and customers with no reception solution through Business@Mail, to make sure that e-Invoicing will be one of the last things you will be worrying about if planning to expand to Chile.

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