Bolivia will implement a new Electronic Invoicing System in 2019

Bolivia will implement a new Electronic Invoicing System in 2019

14/12/2018

In accordance with Resolution RND 101800000026, Bolivia’s National Tax Service (SIN) is implementing a new electronic invoicing system that will go into effect in 2019. This model will record invoices in SIN’s real time and in a secure manner.

Who should comply and when?

SIN has published an annex to the resolution, a list where each NIT or tax identification number is associated with a mandatory incorporation date and a billing modality. 

Some key dates are as follows:

  • Group I for March 2019
  • Group II for June 2019
  • Group III for September 2019
  • Group IV for February 2020

Types of tax documents that can be issued electronically:

  • Invoices
  • Debit and credit notes
  • Equivalent documents

How to generate an electronic fiscal document?

The system has the following invoicing modalities:

  • Manual and previously existed.
  • Web portal: directed to small businesses.

Computerized online: Desktop software allows the system to issue documents on a large scale under the modality of Online Computerized Invoicing (as indicated by the resolution).

  • Online electronics (similar to computerized mode but with digital signatures).

Taxpayers can choose their own systems or systems of electronic providers. Software providers must be certified through the SIN to offer their software.

Requirements to issue an Electronic Fiscal Document

  • Digital Signature (for Online Electronic Invoicing).
  • Credentials authorized by the SIN (for Online Computerized Billing and the Web Portal)
  • Invoicing System Certified by the tax administration (can be developed by a supplier or provided by the tax administration to be used for free)

What is the online electronic billing process?

  1. The issuer generates the fiscal document.
  2. The document must be signed with the “Digital signature certificate) which must be acquired from the certifying entity (ADSIB).
  3. The voucher is sent to the SIN for validation and registration. The SIN sends a response to the taxpayer in real time.
  4. The buyer can instantly verify whether or not the invoice has been issued by using SIN’s web portal on a mobile device or computer. Also, the invoice can be printed at the buyer’s request.

Benefits for taxpayers

Electronic invoicing gives taxpayers more security and information about their tax operations while guaranteeing the validity of tax documents at the same time.

Billing costs related to archiving are reduced.

Taxpayers will have suggestions generated for the pre-filled Value Added Tax (VAT) declaration to review, modify and confirm data. Likewise, taxpayers who declare the RC-VAT will automatically have the suggestions generated on Form 110.

The implementation of the Electronic Billing System eliminates purchase and sales books since the tax administration will automatically generate the Purchase and Sales Registry, which can be verified and validated by taxpayers.

Benefits for SIN

The electronic invoicing system will modernize and improve the country’s tax administration system and it will provide timely access to quality information. It also seeks to reduce the cloning and sale of invoices.

EDICOM, global electronic invoice service provider

Preparing for the electronic invoice in Bolivia is easy with EDICOM. We are ready to offer an agile solution adapted to the requirements of Bolivia’s government that can integrate with ERP systems and correctly generate and send invoices to the SIN.

Contact us and we will advise you on which solution is best for your needs.

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