Peru mandates e-invoicing adoption in 2018 [updated]

February 9, 2017  |  Adoption, Compliance, Electronic Invoicing, Latin America

Despite the fact that Peru is one of the last countries in the region to start using the electronic invoice, it is one of the Latin American nations that made the fastest progress in such sector, having issued over a million documents through the Electronic Issuance System (SEE) so far, according to the National Customs and Tax Administration (Sunat). Sunat’s boost to the electronic proof of purchase was crucial for such progress.

Update 09-02-2017:

Legislative Decree 1314 has been issued by the Sunat, mandating -the outsourcing of- e-invoicing in Peru. Issuing electronic invoices by third parties will be a determining factor to ensure that in 2018 the entire country issues its tax documents digitally. These operators will provide the necessary services to the users, who will be able to choose who to work with.

Carlos Velamazan, Director at Unidad de Negocio de América de Seres:
“Even though the electronic invoice in Peru is legal since 2000, its use is mandatory since October 2014. Governments usually encourage its use to improve fiscal control and reduce fraud. So far, the regulation has forced a total of 5,970 Peruvian companies, in addition to other 20,000, that voluntarily accepted to use the electronic format.”
The experience of countries that have been using e-invoicing for several years prove that it offers a number of advantages to firms, such as cost reduction, improved business, payment and collection management, and the possibility to access new financing sources.
In January this year, Sunat gave new impetus to the use of electronic invoice in order to integrate a group of firms under such duty.  A change in the decisions of firms has been observed as the mandatory electronic invoice became operational across the country; at first, companies believed it have merely a technologicalimpact.
Carlos Velamazan, Director at Unidad de Negocio de América de Seres:
“But it actually requires maintenance and leads to a transformation regarding companies and their partners. In this sense, the best solution is to use a service able to resolve any kind of difficulty, comply with regulations and laws, and even, operate mixed solutions requiring paper invoices and electronic support.”
This content was originally posted here

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