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On January 1, 2011, Mexico began requiring companies to integrate with the Mexico Tax Authority (SAT) for real-time issuance and approval of electronic invoices. Non-compliance with Mexico’s Servicio de Administración Tributaria (SAT), is the same as tax fraud and means not only heavy fines, but potential criminal charges and jail time for the responsible executives. With these severe penalties, organizations must ensure that their process is valid as well as their accounting systems.
In the constantly changing environment, your organization needs a simple way to not only keep up with the changing legislation, but also, an easier way to ensure they are implemented into your ERP processes in a timely and legal manner. This article covers the key topics outlined in the 2011 and 2012 CFD v3.2 legislation.
Don’t forget, there is NEW LEGISLATION IN 2012, see below for the additions and changes from 2011.
2011 – Mexico Mandates
Terminology
Regulations
Receiving
Technical Changes
2012 – Summary of Changes
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Sean Forward UK CEO at payabl.
08 August
Julia Khandoshko CEO at Mind Money
06 August
Indra Chourasia Industry Advisor at Tata Consultancy Services (TCS)
Henrik Grim CEO and Co-founder at Mimo
05 August
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