First Mexico CFDI Change Begins with Foreign Trade Transaction Update Due July 1st

May 2, 2016

Steve Sprague

Author

Sovos

This blog was last updated on May 2, 2016

The SAT (Mexican tax authority) has announced a new transaction requirement that could affect your e-invoicing process. The new requirement specifically addresses “Exportaciones Definitivas Clave A1,” or foreign trade transactions, which the SAT defines as final exports. The SAT will mandate that all companies incorporate a new “complemento” (additional information) for foreign trade CFDIs starting in July. You can learn more via this link on the Mexico SAT website:

If your company creates foreign trade CFDI’s, the SAT will begin enforcing this mandate by July 1st, 2016.

Below are some ways this new update will impact companies with operation in Mexico:

Companies will need to update their billing process extracts to include this new data
For companies not using a solution like Sovos, this means new SAP support packs and regression testing on the global infrastructure
For Sovos clients, this is just part of our standard Compliance as A Service updates

This is just the first move in the Mexico SAT strengthening their requirements and the first wave of 3.3 CFDI changes. It has been a number of years since Mexico had a major change to their XML schema and we expect to see continued enhancements to track foreign invoices, e-accounting accuracies, and adding additional calculations and data elements for in-country VAT invoices.

Steve Sprague

Como director comercial, Steve Sprague dirige la estrategia corporativa, las iniciativas de penetración de mercado y de field enablement para el negocio del impuesto sobre el valor añadido global (GVAT) de la empresa. El estilo de liderazgo de Steve se basa en su convicción de que, para que las organizaciones tengan éxito, deben comprometerse e invertir en los tres pilares estratégicos de la empresa: las personas, las prácticas y los productos.

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