Regulatory Analysis

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Posted May 29, 2020 by Ramón Frias
Paraguay Delays the Application of VAT to Foreign Suppliers of Digital Services

The tax administration of Paraguay (Secretaria de Estado de Tributacion or SET) has announced that the country will be delaying for six months the application of VAT on digital services supplied by foreign non-established providers. According to the recent tax reform, a new withholding system would start to apply on July 1, 2020 to all […]

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Posted May 29, 2020 by Ramón Frias
DIAN issues New Resolution to Regulate the Electronic Invoicing

The Colombian tax administration (DIAN) has released Resolution 00042/2020, intended to establish new deadlines for complying with Colombia’s electronic invoicing mandate, and to consolidate in a single provision multiple regulations in matters of electronic invoicing. An important feature of this new resolution is that it also includes Technical Annex 1.7-2020, required to implement the mandate. […]

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Posted May 29, 2020 by Victor Duarte
Bolivia: Adoption of electronic invoicing system postponed

The Resolution N° 101800000026 establishing the electronic invoicing system (SFE) in Bolivia has been repealed, as the relevant authorities have recognized that taxable persons will not be able to adapt to the new rules and conditions set in the Resolution this year as envisaged. The Government has not yet announced a new date for the […]

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Posted April 3, 2020 by Ramón Frias
Panamanian Government Enacts eInvoicing Mandate

The government of Panama has enacted Decree 115/2020 by which it mandates that all taxpayers excluded from the obligation of using electronic fiscal machines attached to their POS systems will be required to issue pre-validated electronic invoices. The decree also establishes that this mandate will be effective on August 1, 2020 but the tax administration […]

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Posted March 23, 2020 by Ramón Frias
Chile starts taxing foreign digital platforms

The Chilean congress enacted law 21.210, a tax reform bill that will have several implications for VAT compliance. Among the enacted changes, the supply of digital goods and services by foreign suppliers not established in Chile will be subject to VAT. When supplies are made to VAT registered taxpayers, these taxpayers will be responsible for […]

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Posted March 23, 2020 by Ramón Frias
DIAN Proposes Regulation on Timing of Version 1.8 of UBL 2.1

The DIAN has released a new proposed resolution clarifying the timing surrounding the implementation of version 1.8 of the Technical Annex of the Electronic Invoice under UBL 2.1. The implementation deadline will begin on April 2020 for large taxpayers and extend to October 2020 for all others. This new resolution will also consolidate in a […]

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Posted March 23, 2020 by Ramón Frias
Colombia Enacts VAT Holiday

Colombia enacted a new tax reform that, among other things, establishing a future 3 day VAT Holiday. According to the provisions of Law 2010/2019, the government will allow retailers to sell clothes, electronics, sports equipment, toys and school supplies VAT free when purchased by final consumers using a credit card and where the sale is […]

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Posted March 23, 2020 by Ramón Frias
EL SALVADOR: Ministry of Finance Announces New e-Invoicing Pilot Program

The Ministry of Finance of El Salvador has announced that the country is about to start an e-Invoicing Pilot program sponsored by the Inter-American Development Bank.  The exact day when the program will begin has not been released yet by the tax authorities, but the tax administration has informed that they are selecting the roughly 50 largest taxpayers to […]

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Posted February 10, 2020 by Jesse Rooney
Puerto Rico Extends 2019 Informative Due Dates

Puerto Rico’s revenue department, la Hacienda, has announced that its SURI system for electronic payment and filing of taxes will undergo a system upgrade from February 20 to February 24.  The system will be unavailable at that time.  As a consideration for this upgrade, la Hacienda is extending the due dates for 2019 informatives due […]

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Posted December 18, 2019 by Ramón Frias
Costa Rica to Issue Regulation Listing Foreign Suppliers Subject to VAT Withholding

Back in July 2019 Costa Rica enacted a new VAT law that, among other things, taxed digital goods and services. The law provided that in the cases of trans-national supplies of digital goods and services where the supplier was not established in Costa Rica, VAT would be withheld by the financial entities/credit card companies used […]

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Posted December 18, 2019 by Ramón Frias
Paraguay: Digital Services by Foreign Suppliers Subject to VAT Withholding in 2020

The Paraguayan congress approved the law N° 6380/19 which among other things mandates local credit card companies to collect and pay to the tax administration the VAT applicable to sales of digital services when the supplier is a foreign company and the service is considered as provided in the country. For that purpose, the law […]

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Posted October 16, 2019 by Ramón Frias
Colombia Extends Deadline for Compliance with Pre-Validated E-Invoice

The Colombian tax administration (DIAN) has issued a new Resolution 0000064/2019 that basically extends by 2 to 3 months the deadline for complying with the new pre-validation system established by Resolution 000020/2019. Originally, Resolution 0000020 established two schedules of compliance: The first one classified the taxpayers into 14 groups, and established deadlines according to the […]

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Posted April 3, 2019 by Ramón Frias
Deadlines for Colombia Pre-clearance E-invoicing Announced

The Colombian Tax Administration (DIAN) issued Resolution 000020/2019 establishing the schedule for complying with the new pre-clearance e-invoicing requirements and for upgrading to UBL schema version 2.1. This new resolution clarifies the confusion generated by previous resolutions as to effective dates. The deadline is defined by two alternate criteria: a) The type of economic activity […]

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