Nota Fiscal Version 3.10 mandates that all companies operating in Brazil to transition from NFe 2.0 to NFe 3.1 by December 2014. To comply with these changes, Invoiceware International has extended their SAP® electronic invoicing applications and On Demand Latin America E-Invoicing Network to comply with the latest version of Nota Fiscal. Key features are: Turn-key E-Invoicing Platform & SAP extensions, Multilingual Project Management, and Guaranteed Compliance.
Read MoreMexico is very advanced when it comes to the infrastructure for and adoption of e-Invoicing. It laws and regulations continue to evolve rapidly. To stay on top of the latest developments, Markus Hornburg (VP Compliance at OB10) interviewed Benito Celorio. Benito Celorio is CEO at Buzón E (OB10’s e-Invoicing partner in Mexico) and Vice President at AMEXIPAC (the Mexican association for service providers.
In this post Markus Hornburg and Benito Celorio discuss how companies are responding to the coming deadline to start adopting CFDI invoices, how the government is helping SME’s and how it is developing CFDIs further.
The Secretaría de Fazenda has published technical note NT2013.005. It announces the rollout of version 3 of the Nota Fiscal Electronica (NF-e) digital invoice in Brazil. This version changes the structure of the XML file, the validation process and webservice communications with the Public Administration.
In its technical note, the Secretaría de Fazenda has also set the dates for the implementation of NF-e version 3. On 02/12/2013 a test framework will be started-up. On 10/03/2014 the Production framework (coexisting with version NF-e version 2) will be live. And in December 2014 the coexistence period comes to an end, and usage of NF-e version 3 becomes mandatory.
Scott Lewin mentioned in this post that when on the phone with Fortune 500 companies to discuss Latin America electronic invoicing, they are in panic mode. Why? Because their local team had told them it was not a big deal; but once they started understanding the requirements, the impact to their ERP, and the frequency of changes to the legislation, they realized it was a big deal. A very big deal.
When it comes to the inbound Buyer side requirements in Mexico several aspects are often overlooked by the local teams of the Fortune 500’s First of al they don’t think the mandates exist for AP validatio. Second, their suppliers are still sending paper today. And finally, they just don’t think the mandates are real because the government has not had a history of enforcing CFDI.
Billing processes in Brazil are subject to compliance with certain tax obligations involving the declaration of trading transactions to the Brazilian tax authorities. The Brazilian tax system is largely based on the application of charges that vary in line with the movement of goods by companies throughout the Brazilian territories.
To give an overview of what is required in Brazil, EDICOM has delivered an Expert Analysis of Electronic Invoicing and transport documents in Brazil (mandatory as from December): DOWNLOAD THE ANALYSIS (ENGLISH), DOWNLOAD THE ANALYSIS (PORTUGUESE), DOWNLOAD THE ANALYSIS (SPANISH)
SAP teams are realizing the true cost of operating electronic invoicing in Latin America, as over 500,000 organizations look to install the new CFDI mandates for electronic invoicing in Mexico. There are hundreds of thousands of dollars which cannot be spent annually on process improvements as they are hidden costs applied to maintaining SAP in countries like Mexico.
The key lesson from Invoiceware on hidden costs is: Don’t let a $10,000 dollar local/point solution create a $300K a year support problem.
Ecuador’s National Telecommunications Corporation (CNT) has introduced the electronic billing service. The e-invoice, or better: electronic bill provides data on fixed telephony, fixed internet and satellite TV (DTH) consumption.
Communications Service Providers in Ecuador that want to use e-billing, must first create the e-invoice and store it in a data file. Then, a digital certificate needs to be signed, the content is encrypted and the digital stamp is added. The end-user receives the e-bill in its e-mail in two files: one with the invoice in XML format and another that contains tax information.
Vertex has announced an alliance with Invoiceware International to provide multinational corporations with a more robust tax engine with electronic invoicing capability to support Brazilian tax compliance, as well as the day-to-day Nota Fiscal requirements. Vertex is a leading provider for corporate enterprise tax solutions.
“Multinationals continue to recognize that the real cost driver of tax and e-invoicing compliance in Brazil is the management of constant change. This partnership provides multinationals with an opportunity to grow their business in Brazil, while Vertex and Invoiceware ensure compliance with the evolving requirements ,” said Scott Lewin, President and CEO, Invoiceware International.
Migrate is already present in Brazil and Uruguay. The company launched its Invoicy solution in Uruguay in October 2012 and believes it has 20% of the market with some 1,500 licenses. Migrate has been operating for eight years in the Brazilian market, which has had e-billing regulations in place for 10 years, and has 6,000 clients.
Uruguay approved e-billing law 18,600 in 2009 and published the decree for it to enter into operation in 2012. Non-official estimates forecast there will be 12,000 e-billing users in 2014 and 120,000 in 2015. The executive said that Migrate will target the SME market given that it can offer its software in a SaaS format, which means companies can use it on an on-demand basis.
Only invoices bearing an electronic stamp from a PAC are legally valid for tax purposes, so your choice of an Authorized Certification Provider is a critical question that should be carefully analysed. Here we give you four mistakes you must not make when choosing your PAC: Not to demand an SLA that guarantees service availability, No adding added value CFDI-issuing to your platform, Failing to check security in communications, Delaying the decision to migrate to CFDI.
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