Let’s meet our infamous friend, E-invoicing
E-invoicing, also called electronic invoicing, can be defined as the exchange of electronic billings between a supplier and a buyer. Indeed, the purpose of this document is to ensure the terms of their trading agreements are being met also It was made as a tool to improve the tax control.
A walkthrough in the story of E-invoicing within the Latin American space
Did you know that in 2003, Chile implemented the use of e-invoicing as a voluntary action then in 2017 e-invoicing increased by 13% globally? Well that gave a great impulse to Latin America regarding this particular aspect! A few years later, Brazil and Mexico joined this initiative by becoming the pioneers in this field and massifying their tax compliance and electronic accounting processes. Nowadays many Latin America countries are working with e-invoicing and have kept improving the details of this technology.
E-invoicing : Is it mandatory in LatAm?
In most Latin American countries, electronic invoicing is mandatory. This regulation includes not only Brazil, Mexico, Argentina, Peru, Chile, Ecuador, Colombia, Bolivia, Paraguay, Uruguay, Costa Rica and Guatemala but also Panamá, which is working on it. Indeed, e-invoicing is expected to be completely mandatory in the region by the end of next year! To summarise e-invoicing is necessary and useful within Latin America! What are you waiting for?
LatamReady in action!
LatamReady SuiteApp has developed the e-invoicing feature for more than 14 LatAm countries. In brief, the purpose is to offer them the exact requirements each country needs in order to accomplish it’s tax obligations and makes things easier for multi-latin companies.
Want to be prepared for the E-invoicing world? Check out www.latamready.info
Here you can watch the full webinar! https://tinyurl.com/y9hjv5sk