E-Invoicing ≠ Invoices!? Guide to Tax Compliance in Latin America

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Many people assume that Electronic Invoicing is only meant to be for invoices, with no other purpose or use. However, due to the peculiar requirements Latin American countries have for Taxation, e-invoicing becomes a versatile electronic document.

Before explaining its versatility, you need to understand how they work. When you issue Electronic Invoicing with LatamReady SuiteApp, you will receive the document under two formats: PDF & XML. While the XML file only contains unreadable codes, the PDF file will be its graphical representation, with the information required by the Tax Agency of the country.

For example, in Brazil, one of the countries with the most demanding tax regulations, every electronic invoice can also be used as a way bill. If a person is delivering a shipment and gets stopped by a government authority, by showing the PDF file to the authority is enough.

The tax authority will scan the barcode at the end of the PDF file, doing an online control making sure that data matches the driver, the shipment and the truck.

As you see, Electronic Invoicing is a whole different universe of requirements, especially when working in Latin America. If you are interested to know more, go to LatamReady’s website or contact one of our Sales Rep, we’ll be happy to assist you!

Also, for more information on Latin America’s Tax Compliance watch our full webinars on https://www.latamzone.info/

Published by LatamReady: Oracle NetSuite Partner

Founded in 2009, we have over a decade of experience implementing Oracle NetSuite in multiple industries and helping international corporations unlock growth with the LatamReady SuiteApp, an integrated Tax Compliance solution within Oracle NetSuite for 18+ countries in Latin America, including Brazil, Mexico, Colombia, Chile, Peru, Argentina and more!

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