2.4 billion e-invoices sent in Mexico in the first half of 2014. Up 250%

In Mexico, taxpayers earning less than 500,000 pesos in 2012 had until March 31 of this year to migrate to electronic invoicing, while the rest of Mexico’s taxpayers had until January 1 to do so.

As a result a staggering amount of 2.4 billion (2,400 million!!) electronic invoices were sent in Mexico in the first half year of 2014 alone. This very impressive compared to only 119 million e-invoices exchange during the entire 2011, according to the Mexican Tax Authority SAT.

To increase the use and adoption of e-invoicing, SAT released its own smartphone app for users to send electronic invoices.

ROI on audit spending

During the first half, for every peso that Mexico’s tax administration service SAT spent on auditing, it recovered 61.1 pesos (US$4.65). This works out to a first half total of 78.8bn pesos, up 34.2% year-on-year. SAT spent 1.29bn pesos on performing the auditing work, it said in its 1H14 results report.

Álvaro Enrique Cordón, president of the tax auditing development commission of the public accountants college:
“Auditing actions are based on monitoring by electronic invoicing systems of taxpayers. [SAT] verifies that taxpayers are fulfilling their obligations, that each taxpayer is issuing an electronic invoice, and SAT knows who issued it and for whom,”

SAT recovered 51.7% of the audited revenue from large taxpayers and the remaining 48.3% was from other taxpayers.

Source: http://www.bnamericas.com/news/technology/mexican-tax-authoritys-e-invoicing-system-bearing-fruit


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