Blog

Updated: The Definitive Guide to Latin American Compliance

What began as an e-invoicing mandate in Brazil just over 10 years ago has significantly transformed the way businesses operate – not just in Latin America, but across the globe. Governments are progressively turning to technology to close tax gaps, crack down on tax evasion and gain visibility into transactions that happen within – and […]

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A Year of Changes in Brazil (Part 2): New Digital Bookkeeping Mandate – REINF

REINF Defined

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Costa Rica E-Invoicing: Top 8 Requirements to Know

After 8 years of voluntary e-invoicing, Costa Rica has begun its transition to mandatory e-invoice submissions. The first 10 companies began compliance in March 2017 as a pilot, and the DGT, Costa Rica’s tax authority, will continue to roll the program out to additional enterprises over the next two years via email notifications. Like other […]

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Norway Prepares for SAF-T eAccounting

Norway will soon require SAF-T (Standard Audit File for Tax), electronic submissions of transaction-level accounting records, joining a growing number of European countries that are adopting eAccounting. Across the world, the wave of change continues to sweep over more countries, as governments move to require real-time or near-real-time transactional reporting. Tax administrators in 69 countries […]

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2017 Marks Year of Changes in Brazil (Part 1): Brazil Overhauls NFe and CTe

A Closer Look at NFe 4.0 Nota Fiscal (NFe) version 4.0 marks the first new release of Brazil’s e-invoicing schema in two years, and companies can expect a major change from their previous compliance processes. NFe 4.0 requires a new XML structure, new fields, new data, new communication protocols and new web services, impacting both […]

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2017 Marks Year of Changes in Brazil: Brazil Overhauls NFe and CTe

Already known as a worldwide leader in technology-driven tax compliance, Brazil has announced several changes and additions to its requirements starting in 2017. These changes, designed to close reporting loopholes and gather even more information to improve validations, affect Brazil’s e-invoicing and transportation tracking processes, as well as introduce new measures to monitor social security […]

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Press Release: Sovos Acquires Largest eReceipt Compliance Solution, Paperless, Creating First Global Solution for Business-to-Government Reporting

With the acquisition, Sovos adds eReceipts to its real-time tax reporting solution, expands its presence in Brazil and extends Latin American operations to Chile, Colombia and Peru. Wilmington, Mass. – Global tax compliance and reporting software leader Sovos announced today that it has acquired Chile-based Paperless to expand its real-time government reporting capabilities with electronic […]

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Sovos Acquires Largest eReceipt Compliance Solution, Creating First Global Solution for Modern Business-to-Government Reporting

We’re excited to announce the acquisition of Paperless, which expands our real-time government reporting capabilities with electronic receipts and consumer point-of-sale tax reporting – and extends our presence in Latin America. Paperless, which is based in Santiago, Chile, is the world’s largest eReceipts and eDocuments company, processing more than two billion transactions last year across […]

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Sovos adquiere la mayor solución de cumplimiento fiscal en facturas electrónicas, creando la primera solución global para modernos informes de transacción en el ámbito B2G

Nos complace anunciar la adquisición de Paperless, que amplía nuestras capacidades de informes al gobierno en tiempo real con boletas electrónicas e informes fiscales de puntos de venta al consumidor y extiende nuestra presencia en América Latina. Paperless, con sede en Santiago, Chile, es la mayor compañía del mundo en facturas y documentos electrónicos, procesando […]

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Sovos adquire a maior solução de conformidade de e-Receipt, criando a primeira solução global para relatórios modernos entre as empresas e o governo

Temos prazer em anunciar a aquisição da Paperless, que amplia nossas capacidades de relatórios governamentais em tempo real com Cupom Fiscal Eletrônico eReceipts e relatórios fiscais de pontos de venda do consumidor, ampliando a nossa presença na América Latina. A Paperless, com sede em Santiago do Chile, no Chile, é a maior empresa no segmento […]

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Italy Provides Clarification on Communication of Data on Invoices

The Italian Tax Authorities issued Resolution No. 87/E on July 5, 2017, confirming that a taxable person may amend a previously filed communication even after the 15th day following the day on which the deadline expires. The communication must include sales invoices issued and purchase invoices recorded in the VAT ledger during the period of […]

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Hungary Releases Additional Information of Invoice Reporting

Hungary has continued to release additional information about its upcoming invoice reporting requirements. Starting on July 1, 2018 VAT registered persons will be required to report B2B invoices of over 100,000 HUF to the government. The National Tax and Customs Authority (NAV) launched the KOBAK program at the beginning of July 2017. Registered persons can use […]

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La Compliance Inteligente es clave para el éxito en Latinoamérica

Toda empresa que opere en Latinoamérica está bien familiarizada con las dificultades que involucradas en las Leyes para la facturación y notas fiscales electrónicas y las normas que rigen los impuestos. Desde cambios constantes en la legislación hasta interrupciones de los negocios y penalidades financieras, los desafíos de seguir las normas fiscales en la región […]

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Intelligent Compliance Key to Success in Latin America

Any business with operations in Latin America knows what a burden e-invoicing and tax reporting compliance can be. From constantly changing legislation to business disruptions and financial penalties, the challenges associated with Latin American compliance are profound, and continue to compound with each new mandate.

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4 Key Changes in Ecuador’s New Offline E-Invoicing Model

Starting January 2018, all taxpayers in Ecuador will be required to start invoicing under Ecuador’s new offline schema. Announced by the SRI, Ecuador’s tax authority, in 2015, this new e-invoicing model presents both benefits and challenges to companies operating in Ecuador. On one hand, this new process will give companies a slight buffer for compliance, […]

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Can You Reasonably Rely on Artificial Intelligence to Create a Compliant Invoice?

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 […]

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Italy: The Beginning of the End of the EU Approach on E-Invoicing?

We have previously discussed how the Italian government is leveraging tax incentives to help boost e-invoicing adoption between private companies. After all, B2G e-invoicing has been mandatory in Italy for a couple of years now, but that has not led to a particularly impressive increase in the total amount of B2B e-invoices. Tax incentives that […]

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Can Artificial Intelligence Facilitate B2B Automation and Compliance?

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. […]

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