Archive for Compliance

Indonesia introduces VAT steered e-invoicing system. Mandatory in July 2016

Indonesia introduces VAT steered e-invoicing system. Mandatory in July 2016

Taxand Indonesia mentioned in a post that Indonesia has introduced a new VAT biased electronic invoicing system. This new system will be implemented in 3 stages. For the first phase, the Directorate General of Taxes (DGT) has identified 45 companies which will be required to issue electronic VAT invoices. These are mostly foreign investment companies, state-owned enterprises and publicly-listed companies.

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CFDI download portals remain legal despite recent SAT ruling

On 5 October, the Mexican SAT announced a new non-binding criterion related with CFDI E-invoices. According to this ruling, it is improper to ask buyers to enter a particular website to get their receipt, since the seller is obliged to issue it directly. However both SAT and Amexipac have stated that CFDI portals for issuing and downloading invoices “are legal and authorized”.

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W.R. Grace & Co. selects Invoiceware International for e-invoicing in Mexico and Brazil

W.R. Grace & Co, big in specialty chemicals and materials, selected Invoiceware International for e-invoicing in Mexico and Brazil, with an accent on compliant e-invoicing and a cloud approach. Invoiceware International provides the only electronic invoice solution with a hybrid cloud approach, which limits the impact of the fiscal regulations on an end user’s global SAP ERP system.

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UPDATE: Mandatory e-invoicing in Chile as from 1 November 2014.

For many in 2014, e-invoicing in Chile is transitioning from prescribed to mandatory. The Chilean electronic invoicing model combines elements of the batch-oriented folio scheme used in the legacy Mexican CFD model along with the real-time communication as found in Brazil and Argentina.
In September of 2013, the Chile SII (tax authority) announced that they will be rolling out mandatory electronic invoicing for large enterprises with an expectation of having all companies transitioned by the end of 2017. Large enterprises, those over 2.4 Billion CLP will have to be live around October 2014.

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Strategic partnership between Tungsten and Trustweaver for global compliant e-invoicing

Strategic partnership between Tungsten and Trustweaver for global compliant e-invoicing

Tungsten Network announced to have inked a strategic partnership with TrustWeaver. TrustWeaver’s legally compliant electronic signature, time-stamping and tax authority clearance functions had already been integrated into Tungsten Network’s document creation and validation workflows. However, this strategic partnership between Tungsten and Trustweaver implies a next step...

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Number 47: Qatar is the next compliant country for Tungsten

Number 47: Qatar is the next compliant country for Tungsten

October 22, 2014  |  Asia, Compliance, Electronic Invoicing

Qatar is Tungsten Network's 47th compliant country and the third Middle Eastern nation that Tungsten is legally and operationally compliant in, joining the United Arab Emirates and Saudi Arabia. Qatari suppliers on the Tungsten Network come from a variety of industries, including hospitality, legal, media and telecommunications.

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[UPDATE] Bolivia implements mandatory e-invoicing as from November 2014

The Bolivian system mandates the use of e-invoicing, incorporates security measures to prevent forgery (using a QR code) and modifies the format of fiscal notes and auxiliary records. As it came clear to the Bolivian that most of the affected taxpayers were not ready for the new regulations, the new Resolution allows taxpayers until November 2014 to adjust their systems.

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4 reasons why e-invoicing mandates are good for businesses too!

October 16, 2014  |  Adoption, Compliance, Electronic Invoicing

When it comes to having a favorable business environment, few would associate more regulations as being the answer. However Scott Lewin (President & CEO) and Steve Sprague (VP Product Strategy) of Invoiceware International beg to differ. From their perspective and experience e-invoicing mandates are actually a great development that businesses will soon learn to appreciate for at least four reasons.

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Swiss federal administration mandates B2G e-invoicing

The Swiss Federal Council decided that as from 1 January 2016, suppliers have to submit electronic invoices to the federal administration if the contract value exceeds 5,000 Swiss francs. With this scheme, the concerns of SMEs is considered to exempt small procurements from the requirement. The federal administration will support their suppliers in the implementation phase.

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480 Percent growth for Invoiceware International, processing 83 billion USD in transactions

As more companies realize the profound implications of Latin American mandates and look for a regional partner, Invoiceware International continues to expand the largest Latin American Business Network with more than 70,000 businesses in the region transacting over 83 billion USD annually.

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