No one really knows what percentage of today’s invoices are noncompliant with VAT law. Given the complexity and rate of change in VAT law, there is an almost unlimited set of possible nonconformities on the scale between outright fraud and clerical errors. One big problem is that it is often very difficult to gather all […]
Twenty years after IBM Deep Blue beat Garry Kasparov in a series of famous chess games, another computer program, AlphaGo by Google DeepMind, won against Lee Sedol, a top professional player in the very complex ancient game of Go. In 2011, between these two landmarks, we saw IBM’s Watson win against former champions in Jeopardy. […]
In line with other countries in Latin America, Colombia opted to roll out e-invoicing on a voluntary basis, coupled with individual mandates to join the e-invoicing framework to specific taxpayers (often within strategic industry sectors or upon exceeding certain annual turnover threshold). At the end of 2015, Colombia issued Decree 2242 updating their e-invoicing framework. […]
We are seeing a lot of vendor scope evolution on the market. Examples include EDI vendors that are developing business network-style services; another one is that platforms focused on procurement of indirect supplies are moving into strategic sourcing and vice versa. A trend that receives less attention from analysts and specialized press is the journey […]
There is much speculation about the potential of blockchain in the context of B2B automation. This speculation normally focuses on open or public blockchains, which are distributed databases where different types of transactions can be securely recorded and transparently verified by all parties without depending on a trusted third party. The scheme was first used […]
Overview The main indirect tax of Mexico is the Value Added Tax (locally known as IVA), which generally applies to all imports, supplies of goods, and the provision of services by a taxable person unless specifically exempted by a particular law. The tax is imposed by the federal government of Mexico and ordinarily applies on […]
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 […]