![]() By all measures, Mexico, along with countries such as Brazil or Chile, is the world leader in electronic invoicing. Mexico was the second country on the American continent in developing a mandatory, comprehensive and government-specified model of electronic invoicing, behind Chile. Since then, the Mexican government through its Tax Authority (SAT) has been one of the pioneers in the implementation and development of electronic invoicing at a global level, serving as an example to countries around the world that are in full phase of implementation of its own system. That year, a group of companies decided to create an Electronic Invoicing Committee and, after performing all necessary tests, came up with a model that would serve to create the legal framework on which would govern electronic invoicing in the country. The implementation of electronic invoicing in Mexico goes back to 1997. If the invoice is changed or cancelled, the tax administration must also be notified. Whenever the invoice is paid, the tax administration must be notified. ![]() The consequence is that the Mexican tax administration archives about six billion invoices per month. Invoices are retained for five years, and are accessible within the tax administration portal for all that time. Today in Mexico, all economic entities, including individuals, must log all costs and revenues to the administration central data repository. Another notable project would be e-factoring, which is currently improving the finances of small and medium-sized enterprises, for example in Chile where the factoring market.A complete analysis of the societal value of electronic invoicing was produced by the Interamerican Development Bank. According to a study by the Tech de Monterrey, the obligation to issue CFDI, which came into force in 2015, led to a growth in Income Tax (ISR) collection in Mexico of up to 6,6% for companies and 21.3% for individuals. ![]() ![]() However, in recent years, for multiple reasons, and in particular the need to reduce tax evasion, several countries in the world implemented mandatory, centralized and government-owned repositories to force all invoices to be controlled, validated and, in some cases, "stamped" by the government. EHF (Elektronisk handelsformat) (Norway).At a global level, none of them prevail and most of them are not interoperable with one another: It is essentially a business-to-business process that is settled between companies. IntroductionĪs in its general use, the main purpose of electronic invoicing is to make Account Payable and Account Receivable processes more efficient. It has to be apprehended in the context of an extended B2B process that includes multiple data entries, validation of delivery, invoicing per se, then long delays that can create a working capital crunch and a need for financing, and finally various tax payments, before a potential second, third iteration and more. However, electronic invoicing in 2021 is far more than the simple digitalization of an invoice. The perception of the electronic invoicing is that it is simply the exchange of what used to be a paper invoice in some sort of electronic format. These documents include invoices, purchase orders, debit notes, credit notes, payment terms, payment instructions and remittance slips. E-invoicing methods are used by trading partners, such as customers and their suppliers, to present and monitor transactional documents between one another and ensure the terms of their trading agreements are being met. Electronic invoicing (also called e-invoicing or einvoicing) is a form of electronic billing.
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