Regulatory Analysis

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Posted July 29, 2020 by Ramón Frias
MEXICO: SAT Extends Until the End of the Year Permission to Use of Global CFDIs by Sellers of Fuels

The Mexican Tax Administration (SAT) has included a new provision in the Second Modification of the Miscellaneous Fiscal Resolution to postpone until December 31, 2020 the permission given to sellers of fuels to issue global electronic invoices (CFDIs) for their sales of fuels subject to volumetric controls. This permission was originally supposed to expire on July […]

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Posted July 21, 2020 by Ramón Frias
COSTA RICA: Government Announces Postponement of VAT on Foreign Supplies of Digital Services

The Minister of Finance of Costa Rica has announced that the implementation of VAT on supplies of digital services by foreign providers, which was scheduled to be effective on August 1, 2020, will be postponed until September 15 of this year. According to the Ministry, the change is being made in order to give enough time […]

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Posted July 21, 2020 by Ramón Frias
URUGUAY: DGI Introduces Several Changes to the Electronic Invoicing System of the Country

The tax administration of Uruguay (DGI) has announced several changes to the electronic invoicing system of the country, by releasing a new version of the technical documentation required to comply with that mandate. These new changes include the modification of existing fields and new fields that will be required for validation of the electronic invoices […]

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Posted July 21, 2020 by Ramón Frias
MEXICO: SAT Publishes the List of Foreign Suppliers of Digital Services

Foreign suppliers of digital services to customers located in Mexico are required by law to register at the tax administration of Mexico (SAT), charge VAT for the services that they provide to final consumers and issue the corresponding invoice to their customers. Taxpayers that do not comply with this mandate may be subject to sanctions […]

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Posted July 14, 2020 by Ramón Frias
MEXICO: SAT Publishes the List of Foreign Suppliers of Digital Services

Foreign suppliers of digital services to customers located in Mexico are required by law to register at the tax administration of Mexico (SAT), charge VAT for the services that they provide to final consumers and issue the corresponding invoice to their customers. Taxpayers that do not comply with this mandate may be subject to sanctions […]

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Posted July 14, 2020 by Ramón Frias
PERU: SUNAT Issues Resolution 108/2020

The Peruvian SUNAT has issued Resolution 108/2020. This resolution is intended to postpone several obligations that otherwise would become effective July 1, 2020. As a result, the mandatory use of the United Nations Standard Products and Services Code (UNSPSC) or the Global Trade Item Number (GTIN) as identifiers of fixed assets in the Ledgers of […]

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Posted July 14, 2020 by Ramón Frias
CHILE: New Regulation Extends Permission to Use of Paper Invoices

The Chilean tax administration (SII) has issued a new resolution extending until December 31, 2020 the use of Invoices, Purchase Invoices, Liquidation Invoices, Dispatch guides, credit and debit notes in paper format that had previously been authorized until June 30, 2020. Resolution 70/2020 of the SII applies only to those specific taxpayers that by law, […]

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Posted June 19, 2020 by Ramón Frias
Colombia Sets the days for the VAT Holiday

The Colombian tax administration (DIAN) has announced that the VAT Holiday established by the Law 2010/2019 and the Legislative Decree 682/2020 will be held on the following three days: June 19, July 3, and July 19 of 2020. Participation in the VAT Holiday is not mandatory. Businesses opting to participate in the VAT Holiday should […]

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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 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 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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