Archive for Legal

1, 2 and 3… Migrate from CFD to CFDI in three easy steps!

As of January 1, 2014, the Digital Tax Invoice via Internet (CFDI) replaces the former e-Invoice (CFD) as the mandatory electronic invoicing model in Mexico. The new regulation obliges all taxpayers who generate revenue of more than $ 250,000 annually to adhere to the CFDI, and relieves the issuers of having to administer serial and folio numbers or make monthly invoice declarations.
Are you one of the taxpayers currently still working with the CFD schema? Well, then you must change over to the new electronic billing model as of 1 January 2014!! In this post EDICOM briefly explains how to migrate your invoicing solution quickly and safely in these three easy steps.

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Four must reads on Brazilian and LATAM e-invoicing rules of the game

When it comes to legally compliant e-invoicing in Latin America, Invoiceware is your source to go to. Just as a few weeks they provided a series of articles on the rules of the game in Brazil and in Latin America. Such as the post on the latest version of Nota Fiscal (version 3.1), demanding all companies to be live with by the end of 2014. And this post "2014 Changes to Brazil Nota Fiscal – Challenge or Opportunity?" But also their post on how national government e-invoicing compliance affects a global SAP deployment. And last but certainly not least: "Avoiding Trouble When Doing Business In Latin America: Does Your Local Supplier Have Best Practices In Place?"

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ComReg: forcing up e-billing is a change of contract and a breach of statutory regulations

Hail, hail ComReg! The Irish ComReg (Commission for Communications Regulation) quite probably is at the forefront of consumer protection when it comes to e-billing adoption. In this case communications provider EirCom began changing customers to e-billing. Even though EirCom notified the affected customers on three separate occasions, under ComReg rules EirCom should have given its customers the chance to reject or opt out of it.
ComReg stated that the implementation of the online billing represented a change to the customers’ contracts, and that EirCom had not complied with its statutory obligations by the Universal Service Regulations to notify customers of such modifications.

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France transposes EU electronic invoicing directive into national law

August 13, 2013  |  Electronic Invoicing, Europe, Legal

Directive 2010/45/EU pursues the objectives of its predecessors: to harmonize, simplify and streamline electronic billing processes, maintaining the possibility of electronic submission as long as the authenticity of origin and content integrity are guaranteed.
Publication of Decree 2013-350 of 25th April 2013 culminates the transposition of Directive 2010/45/EU on electronic invoicing to French legislation, substantially modifying the content of certain articles and annexes of the General Tax Code (CGI).
The new policy proposes new measures for senders and receivers of electronic invoices, such as the use of advanced electronic signature systems using secure devices with recognized certificates. In this post we take a closer look at these modifications and how they might affect senders and receivers of this type of documents.

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9 must read resources on Mexican CFDI e-invoicing transition as from 2014

August 9, 2013  |  Electronic Invoicing, Legal

The Mexico SAT, their governmental tax agency, announced the mandatory transition of all invoices, for companies generating more than 250,000 pesos in revenue annually, to an electronic process known as CFDI as from 1 January. With nearly 500,000 organizations potentially having to switch by the end of 2013, there is a mad rush to identify resources and solutions.
Here are 9 must read posts on this issue from Invoiceware, written by Scott Lewin:
- The Changes in Mexico are OFFICIAL – Deadline set for December 2013 - Mexico CFDI – The Basics Explained - Mexico eInvoicing – NO CFD Grandfather clause - Mexico CFDI eInvoicing – Red Flags to Avoi in Mexico CFDI eInvoicing - 5 Questions to Ask a PAC - Did you just implement a Single Point of Failure - Don’t Forget the SAP Configuration - Printers, what do you mean I have to manage Printers? - Where is my Money? DSO Alert

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Tradeshift signs e-invoicing agreement with Lear Corporation

More and more multinationals are looking for ways to bring the different branches of their global companies together on one platform. As more governments begin to mandate e-invoicing and other business processes, having a unified solution that works across borders will be critical.
Lear understands this. With 113,000 employees and 221 locations in 36 countries, it faces the challenges that a lot of global enterprises are confronting today. By working with Tradeshift they'll be able to ensure compliance and scalability in every region they do business. And Tradeshift provides the answer.
With Mexico's January 1, 2014 CFDI mandate looming, and other countries following suit, multinationals everywhere are evaluating the best solutions for meeting the complex compliance regulations. Tradeshift ensures documents sent and received on the platform meet these standards and are compliant with the CFDI format. Tradeshift will begin the implementation and onboarding of Lear's suppliers throughout North America and Mexico.

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EU proposes draft directive on e-invoicing in public procurement

The European Commission has issued a DRAFT directive on e-invoicing in public procurement. Accompanied by a EU communication setting out its vision for the full digitisation of the public procurement process (so-called 'end-to-end e-procurement'), the Commission estimates that the adoption of e-invoicing in public procurement across the EU could generate savings. Savings of up to a lousy €2.3 billion.
Yes, a lousy €2.3 billion. Because that is what The Netherlands can save with e-invoicing alone. That said, the press release states that this draft directive proposes the establishment of a European e-invoicing standardwhich is expected to improve interoperability between different, mainly national, e-invoicing systems. It will also help boost the uptake of e-invoicing in Europe which remains very low, accounting for only 4-15% of all invoices exchanged.

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Mexican multinationals rely on the OB10 and Buzón E partnership for compliance

Twelve months after processing its first electronic invoice in Mexico, more and more leading multinational organizations use the combined services from OB10 and Buzón E (a government-accredited e-Invoicing solution provider). These leading multinational organisations are active in the pharmaceutical, consumer goods, energy, technology and manufacturing sectors.
These companies of course benefit from the advantages of compliant electronic invoicing and straight-through processing through the partnership. But they are facilitated to comply with recently announced changes to Mexican legislation that will affect them and their suppliers.

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Oh boy, only signed XML B2G e-invoices are allowed in Italy as from 2014.

We heard the rumors. That the nineth-largest economy of the world decided to go for mandatory B2G e-invoicing as from 2014 for specific entities like the Italian ministries, tax office, the national security and welfare departments. All other public sector bodies must comply by June 2015. Once these deadlines have passed, the government will no longer pay invoices that do not meet the requirements.
And that raises to quite some eyebrowes: only signed XML B2G e-invoices are allowed in Italy as from June 2014. And to date it is unclear to what extend the Italian government is going to facilitate suppliers in this change. So e-invoicing adoption? Yes. But also heavy handed, ignoring supplier value and contrary to the idea of equal treatment.

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They exist. In Rwanda. The Electronic Billing Machines....

They exist. In Rwanda. The Electronic Billing Machines….

It may look sinister. But the Electronic Billing Machines (EBM's) are the latest ICT innovation that will help the Rwanda Revenue Autohority to improve its efficiency when it comes to VAT collecting and to combat VAT fraud.
Rwanda has just a mere 7000 registered VAT tax payers. Yet many of them use all sorts of tricks to evade remitting the 18% on the sale of every VAT-charged commodity.

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