Blog
Mexico is one of the oldest pioneers in e-invoicing. With more than 10 years of experience, ~30 billion e-invoices, ~6 billion last year, it is worthwhile to see what the Tax Administration “SAT” has decided to change for the upcoming version 3.3, mandatory as of July 1st this year. As clearance gains more territory, what’s […]
The Italian government has in recent years put in place a package of legal measures with the ambition of boosting the adoption of e-invoicing across all sectors and especially for SMEs. Not too long ago, the government went so far as to make the Sistema di Interscambio, the public platform used to issue B2G e-invoices […]
The rules on conversion of invoice form and format are not harmonized across the EU and EEA. Thus, even though the majority of these countries allow for an invoice to be converted from paper to electronic form upon receipt, and at the same time for discarding the paper version, this is often permitted only subject […]
The use of electronic signatures for the purpose of fulfilling legal requirements for authenticity and integrity (A&I) in electronic or e-invoicing has been discussed extensively in recent years and has resulted in high-quality signatures being either mandatory (e.g. in Latain America, Russia, Turkey and China) or a well-defined option (as in the European Union) for […]
Enterprises conducting business in the EU are currently analyzing the impacts and organizational changes required to comply with the General Data Protection Regulation that will, from May 2018, redesign the legal framework in privacy. The changes will substantially affect risk management processes and privacy requirements will become essential in product development and IT infrastructure design […]
As informed in previous posts, from 1 of July of 2017, big taxpayers in Spain will be obliged to report invoice data on inbound and outbound invoices to the tax authority under the new SII system. Taxpayers subject to this system must communicate extracted data from issued invoices within four (4) business days following the […]
Last month, Colombia’s Finance Minister, Mauricio Cardenas, officially announced the country’s impending e-invoice mandates in an interview with El Tiempo. Using regional neighbors Chile and Mexico as models, Colombia DIAN is tackling tax evasion and reducing government expenditures through a three-pronged approach that focuses on the implementation of e-invoicing, tighter scrutiny of tax-exempt nonprofit organizations […]
We have a new name! As many of you already know, last year, Convey, Taxware and VAT Resource came together as one organization. We now have a new corporate name: Sovos Compliance. This new name represents a broader vision and scope for the combined business. The name Sovos is inspired by the roots of Greek words, […]
The IRS’ Criminal Investigation (CI) Division and Her Majesty’s Revenue & Customs (HMRC) from the U.K. recently collaborated on a symposium held over three days in the District of Columbia. The event focused on international financial crimes and cross-border tax evasion, indicating governments are putting a lot of effort into preventing these crimes. Both IRS CI […]
Nov. 1 was a noteworthy day for much of Latin America, celebrated chiefly in Mexico but many other cultures. The rituals, celebrants take part in, trace back thousands of years, all of which pay tribute to the lives of the dearly departed. But in the Latin American business world, specifically in Chile, Nov. 1 was a […]
The chatter is increasing in Mexico around the upcoming changes to CFDI. With more than 500,000 companies potentially affected, there is a lot of posturing by solutions in the market place. But what is important and can derail your transition is not the obvious, but what is in the details. If you overlook these following […]
As discussed in previous blogs, there are many differences between eInvoicing in Latin America and the rest of the world. This includes Europe specifically. In this article, I specifically point out the key differences from the Accounts Payable perspective. With the new legislation in 2012 mandating inbound einvoice validation in both Mexico and Brazil, this […]
As discussed in the past, we highly recommend your organization look at packaged solutions to solve compliance for Mexico CFDI. However, if you are looking to understand the process flow for an outbound Invoice in Mexico and the complexities — below is what you will have to build. Remember, sending/receiving from the government is just […]