Mexico, Argentina and Brazil preparing international e-Invoicing model
In recent years, e-invoicing has been growing apace worldwide. Nevertheless, there remains one challenge facing this system, that of interoperability. Until now, each state designed its own billing model, in such a way that the requirements demanded when generating this document would vary in each region and in some cases would hamper international trade. To resolve this problem, Mexico, Argentina and Brazil are working on an international electronic invoicing model, which could also be extended to the CIAT members.
The policies that these three tax authorities have laid down in their respective States are a role model for other regions of the world to follow. They have managed to massify electronic invoicing in the B2B and B2G areas. In fact, Brazil, with a penetration of over 90%, exchanges almost one billion electronic invoices for tax purposes (NF-e) every month. In Mexico, there are now over 4.6 million taxpayers using the CFDI. And in Argentina, the AFIP is gradually bringing more economic sectors into the electronic regime. In other words, we're talking about some of the most advanced countries on the planet using this technology.
What will FEI be like?
The international electronic invoice, known as FEI, is intended to facilitate interoperability in transactions taking place between different markets.. The model currently being implanted must include an electronic signature in order to ensure integrity. In addition, it shall contain a minimum number of common fields.
These features make negotiations in international trade easier and more reliable. In fact, all participating countries will have a record of the electronic invoices issued, without having to consult the system for each of them.
A European standard
Going beyond this project, the European Union is also drawing up an interoperable electronic billing standard for its member states. In fact, the CEN is now working on the creation of this model, some of whose features are described in Directive 2014/55/EU.
A global solution
EDICOM has developed an international e-invoicing platform adapted to the technical and legal requirements of any country. Through this solution integrated in the ERP, large multinationals can issue their e-invoices automatically and centrally, regardless of the destination.