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The Mexican Tax Administration (SAT) reported that in June alone 270,000 taxpayers and 214 SME’s opted for electronic invoicing. The SAT also stressed that the taxpayers have issued a staggering amount of more than 628 million electronic invoices, which at year-end estimates should reach over one billion. The SAT furthermore reported a news conference that more than 477 000 taxpayers claimed VAT with their respective bar code.
Some more figures A company developing enterprise software and electronic billing, said at the time that the overall adoption of electronic invoicing in Mexico is reaching 40%, while the industry is reporting greater adoption rates reaching 77%. As for the sectors that have adopted electronic invoicing in these locations, the industrial ranks first with more than 60%, followed by services and trade.
Objectives Guillaume Hatt pointed out that the major difference between Europe and Central & Latin America is in regard of the OBJECTIVE of stimulating electronic invoicing.
Whereas the European objective and its governments are to improve the companies efficiency, working capital etcetera…, the South America governments objectives are to ensure they will collect ALL the due taxes without fraud or heavy workload.
This explains also WHY the Brasilian approach is so efficient (aside the overall fiscal complexity of Brasil). What is interesting to note, is that the intercompany electronic invoices are NOT so well propagated, a lot of them still requesting paper.
See also this interview between Kevin Benedict and Scott Lewin: http://b2b-bpo.blogspot.com/2010/10/interview-with-mexico-e-invoicing.html
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Carlo R.W. De Meijer Owner and Economist at MIFSA
11 September
Ruchi Rathor Founder at Payomatix Technologies
10 September
Ahmad Almoosa Cofounder & CEO at Mazeed
Alex Kreger Founder & CEO at UXDA
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