Costa Rica Can Issue Electronic Invoices in Dollars

Costa Rica Can Issue Electronic Invoices in Dollars

23/05/2017

The tax administration in Costa Rica has modified some parts of resolution No. DGT-R-25-2017, including issuing e-invoices in a currency other than the national currency as well as issuing invoices in other languages with their respective translations.

Electronic invoices in Costa Rica can now be issued in a currency other than the national currency, for example, in US dollars. Until now, the resolution stated that invoices could be issued only in colones. This will be beneficial to Costa Rican taxpayers who depend on foreign operations in other currencies.

It is imperative that electronic documents issued in a foreign currency indicate the currency in which the transaction was performed.

Regarding the language of invoices, the resolution states, "Electronic documents must be expressed in the Spanish language. However, they may be written in a different language, in which case, if required by the tax administration, their respective translation must be provided in the Spanish language.”

A System With Huge Advantages

Costa Rica is very close to implementing the electronic invoice. On February 14th, Costa Rica began an electronic invoice pilot project that included large taxpayers and aims to make the use of this system widespread in the country.

The tax administration will be able to improve fiscal control and reduce evasion since all commercial operations will be declared in real time. The electronic invoice has direct advantages for taxpayers as well. With this system, economic costs are minimized due to reduced paper usage, printing, mailing and physical storage. In addition, it is a technology that opens the door to e-commerce and internationalization.

We recommend that you download our whitepaper "The Electronic Invoice in LATAM" to know all the details about e-invoicing and to discover how it can affect your business.

e-Invoicing Platform

A single solution that lets you issue electronic invoices in any country worldwide

Consulta las últimas noticias en...

Resources

E-Invoicing in Latin America

Adapt your billing system to the needs of any Latin American country.