e-Invoicing in Latin America [updated White Paper]

e-Invoicing in Latin America [updated White Paper]

23/01/2018

e-Invoicing as the only billing model is already present in many Latin American countries. In countries as important as Mexico or Brazil, the e-document is already used in 100% of business transactions. In other countries such as Chile, Argentina, Colombia, Peru, Costa Rica or Uruguay, work is underway on a full rollout in the medium term.

Latin America is the most advanced region of the world in e-invoicing implementation. There, the system has become an invaluable tool to enhance fiscal control and mitigate the high evasion rates. But it also generates several benefits for businesses.

This is why more and more Latin American countries are opting to roll out e-invoicing in their economies. Some countries in the American continent have been at the cutting-edge of this technology for years, with Mexico and Brazil the most advanced in e-invoicing legislation. Tax authorities in Central and South America follow these more consolidated models and are adapting them to their own tax systems, as already occurs in Costa Rica and Colombia.  The system’s success in neighbouring countries is encouraging and to a great extent justifies its spread.

Thanks to this system, taxpayers’ billing activities and other operations permanently under observation, so it is much easier to control tax evasion. Laws that have driven the spread of e-invoicing in Latin America mainly pursue aims of administrative control and efficiency, such as:

  • Knowing as accurately as possible the monetary flow moved by taxpayers through what is billed in their business transactions.
  • Maintaining a permanent audit of taxpayer purchases and sales and their impact on models at sector level.
  • Detailed knowledge of the taxes a company is due to pay to the administration. It is possible to have these data for each invoice and at all times. Ultimately, it is a perfect tool to combat tax fraud.

Global e-Invoicing

Trade borders are becoming increasingly delimited. Thanks to the breakthroughs in telecommunications and technology, companies nowadays need systems that enable them to connect with any part of the world and through any communication format and protocol.

The option of having a e-invoicing technology provider that ensures capacity for action in the international scope facilitates the fiscal and regulatory compliance of multinationals.

EDICOM, in turn, has its own technological infrastructure and an e-Invoicing Observatory that collates in-depth knowledge of each country’s requirements. This entire system forms a global e-billing platform that allows companies to automatically and efficiently manage invoice flows and other business documents to optimize their internal administrative work.

EDICOM’s global e-invoicing platform simplifies the process of sending and receiving electronic invoices in multinational environments. This is the solution for companies operating in different markets from centralized management systems and which need to be able to process these documents in compliance with the legislation currently in force in each country.

La factura electrónica en Latinoamérica

e-Invoicing Platform

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

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Resources

E-Invoicing with the Public Administration in France
Learn about the public sector fiscal dematerialization project in France.