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Chile was one of the first countries in Latin America to implement e-invoicing. In 2001, the Internal Revenue Service (SII) introduced the e-invoicing system in the country.
The governments of Latin American countries have progressively implemented mandatory invoicing regimes. The transition has been marked by a constant evolution exemplified by the enactment of laws and regulations aimed at promoting the widespread use of electronic invoicing.
SERES has published a report on the status of e-invoicing in the Americas region for the year 2023. The study highlights the increasing number of countries, including Bolivia, Paraguay and the Dominican Republic, that are adding new taxpayer groups to their e-invoicing regimes.
E-invoicing is one of the most important tools to prevent fraud and tax evasion in Latin America. Invoicing regimes are mandatory in many countries, and in others, implementation is being phased in.
Continuing issues with VAT fraud are prompting tax authorities to adopt machine learning and generative artificial intelligence to tackle the problem. Tax authorities in numerous countries, including those in the European Union, are increasingly adopting artificial intelligence tools to combat VAT fraud.
Adoption of e-invoicing continues to progress in Latin America, and a notable example of this progress can be seen in recent developments in Colombia and Peru during the month of September.
