Costa Rica is one of the latest countries in Latin America to embrace electronic invoicing, and many companies doing business in the country are under pressure to find a service provider to help them comply with the country’s eInvoicing mandate. Manufactures and retailers are set to fall under the mandate in the next few months. […]
Companies dealing with complex sales and use tax determination, VAT regulations and other tax challenges across the globe know that SAP alone is not equipped to support the varying requirements from country to country. As SAP sunsets support and updates for ECC and R3, companies must move to HANA to keep their systems up to […]
After initially focusing on data and automation to gain visibility and ensure tax compliance in business-to-business transactions, many governments are now extending technology into business-to-consumer trade, requiring eReceipts. So, what’s the story behind eReceipts, and why do they matter? Here’s a quick tutorial to get you up to speed. What are eReceipts? eReceipts are the […]
The governments and tax administrations of South and Central America were among the first in the world to adopt ambitious programmes that mandate the use of e-invoicing based on ‘clearance’ and structured data files. Over the past ten years, we’ve seen them leapfrog the time-honored concepts of paper-based, post-audit processes to put in place entirely […]
Invoicing in Latin America has become complex to the point of being daunting. Businesses that get electronic invoicing processes wrong could quickly grind to a halt. Mastering the eInvoicing process is critical, then, and it involves making sure that all four elements of eInvoicing are working smoothly at the same time. New regulations, most notably […]
In order for businesses in Latin America to reduce their risks of fines, penalties and operational disruptions, it’s imperative to understand and manage the ever-changing eInvoicing and VAT reporting mandates sweeping throughout the region. While proactive compliance can improve operational efficiency, streamline processes and increase cash flow, many companies do not have strategic processes in […]
Companies looking to expand internationally or ones already doing business in multiple locations face a complex web of tax regulations and reforms, varying dramatically from country to country. Existing tax compliance systems and processes typically aren’t sufficient to manage these growing challenges, requiring multinationals to adopt a new, proactive approach to compliance to reduce risk […]
Since the first launch of eInvoicing mandates in Brazil 10 years ago, eInvoice adoption has now spread worldwide. Governments are implementing complex, real-time, transaction-level requirements to gain visibility into tax liabilities, close the tax gap and minimize corporate tax evasion. eInvoicing compliance is not a simple process for businesses – it requires a total shift […]
Ask any business student what the secret to commercial success is and they’ll tell you it’s profit margin, not just sales volume. Therefore, to be good at selling things you have to excel at buying them. Usually, companies have a strong incentive to tightly manage what’s called ‘direct supplies.’ These are the raw materials and […]
By Andy Hovancik – President & CEO Today, we announced the acquisition of Stockholm-based TrustWeaver to create a clear leader in modern tax software. TrustWeaver has become a seal of approval for the world’s largest procure-to-pay and AP systems. This is a testament not only to the effectiveness of its e-invoicing software and integrations, but […]
Hoje nós anunciamos a aquisição da empresa sueca TrustWeaver para criar uma clara liderança na nova era de software fiscal – e expandir nossa cobertura de e-Invoicing (faturação eletrônica) a 60 países em seis continentes. Nós estamos assistindo à faturação eletrônica espalhar-se por todos os continentes, adicionando complexidade e risco ao seu processo financeiro e […]
Hoy, anunciamos la adquisición de TrustWeaver con sede en Estocolmo, para crear un claro líder en software impositivo moderno – y expandir nuestra cobertura de facturación electrónica a 60 países en 6 continentes. Hemos visto el cumplimiento de facturación electrónica expandirse a cada continente, agregando complejidad y riesgo a tus procesos financieros claves. TrustWeaver se […]
Most countries that impose an eInvoicing mandate require taxpayers to report not only issued invoices, but also eInvoices received from their suppliers. With Colombia’s eInvoicing requirement reaching all taxpayers by January 1, 2019, and many prior to that date, companies operating in Colombia are asking whether the country is following this same pattern. Inbound eInvoicing: […]
Mandatory eInvoicing in Costa Rica is becoming a reality in 2018. Initially targeted toward service providers, Costa Rica is rolling out the requirement to additional companies later this year, and they must prepare now for the change in processes and operations. Summary of the Law In late 2017, Costa Rica announced mandatory eInvoicing for service […]
La mayoría de los países que imponen un mandato de facturación electrónica requieren que los contribuyentes informen no solo las facturas emitidas, sino también las facturas electrónicas recibidas por parte de sus proveedores. Dado que el requisito de facturación electrónica de Colombia llega a todos los contribuyentes antes del 1 de enero de 2019 y […]
La Dirección de Impuestos y Aduanas Nacionales (DIAN) emitió una nueva resolución 000010/2018 el 6 de febrero que requiere que los grandes contribuyentes emitan y presenten facturas electrónicas antes del 1 de septiembre de 2018. En Colombia, esta resolución era esperada ya que la DIAN había emitido un borrador de la misma en el último […]
Costa Rica is currently in the process of transitioning to mandatory e-invoicing by 2019. The use of e-invoicing will help the Costa Rican government strive toward its goal of digital inclusion, but also help combat tax evasion by optimising tax controls. Its strategy will place it alongside other Latin American countries, including Mexico, Brazil, and […]
Real-time electronic audits are increasingly common throughout Latin America, requiring companies to maintain 100% accuracy in their electronic documents and record-keeping. This process all starts with the eInvoice – audits are triggered if an invoice isn’t submitted correctly or if it is inconsistent with eAccounting reports and other electronic filings from a company’s buyers and […]