e-Invoicing becomes mandatory in Peru as of August 1
August 1 is the final deadline for a group of 239 large Peruvian companies, designated by the SUNAT, to adopt e-invoicing. Initially, these companies were supposed to switch to the new system on 30 September 2014, in compliance with Resolution Nº 374-2013. However, that deadline was postponed until April this year, then finally extended again until August, so that all taxpayers would have enough time to get ready technologically.
In Peru, e-invoicing has been up and running since 2010, although its use is voluntary. However, for the past two years the SUNAT has been moving towards making it mandatory, as in other Latin American countries such as Brazil, Mexico, Chile or Argentina. In fact, a new group of 778 businesses is scheduled to join the Electronic Issuing System (SEE) by January 1, 2016.
At present, over 7400 taxpayers are using e-invoicing voluntarily. The figure is growing each year due to the advantages of this technology in cutting economic costs, optimizing tasks and boosting productivity. With the new legal measures, widespread use of this system will be even more palpable. The SUNAT final goal is that by 2017, 100% of taxpayers will be using e-invoicing in their business transactions.
Companies affected by the obligation that are not operational by August 1 face sanctions for non-compliance. EDICOM, as provider accredited by INDECOPI, has developed a quick start-up solution which automates the creation, sending and receipt of e-invoices. This way, companies comply with the law while maximizing the benefits of this new system.