The implementation of mandatory electronic invoicing continues to advance in Latin America. Below, we highlight the developments that have occurred in recent months:
Bolivia
The government of Bolivia has postponed the deadline for the entry into force of the mandatory use of electronic invoicing through the Electronic Invoicing System (SFE) for the fourth and fifth waves of taxpayers. In accordance with the provisions of the RND – 102300000024, the new scheduled date is October 1, 2023.
Despite this postponement, electronic invoicing is having great success among Bolivian companies. In 2022, 303.8 million electronic invoices were issued, for an amount exceeding 391 billion bolivianos, according to the National Tax Service (SIN).
Chile
On July 1, 2023, modifications were made to the minimum amount related to the issuance of simplified invoices in 1 CLP. This new minimum will also take into account transactions of goods and/or services exempt from VAT.
Similarly, in the case of operations whose amount is equal to 0 due to a discount, the simplified invoice must mention the amount of discount applied as established in Resolutions No. 74 and No. 176.
Costa Rica
On September 10, the new Resolution on the use of electronic invoicing in Costa Rica will enter into force, modifying the schemes applied to the reading of electronic receipts.
Likewise, it is established that sales must be taxed at the time it is made through the use of an electronic invoice that has any of the following elements:
- Sales code 10, for credit sales up to 90 days; and a code 11, for credit payments up to 90 days.
- Code 09, which provides for a reduced tax rate of 0.5%.
- "Percentage of exemption" field, which is changed to "Decimal".
The obligors have 90 calendar days (3 months) after the effective date of the Resolution to prepare their electronic invoicing systems to the provisions of the new regulations.
SERES brings all its experience to its customers
The best option to implement electronic invoicing in a company and, in this way, avoid economic sanctions, is to hire an approved service provider. SERES has more than 30 years of experience and has collaborated with several international public entities for the implementation of electronic invoicing and Electronic Document Interchange projects.
Our mission is to advise our clients in a personalized way so that the digital transformation of their company is carried out successfully. In addition, our electronic invoicing solution is global, therefore, it adapts perfectly to the specific casuistry of each client.
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