Mexico’s e-invoicing mandate affects an estimated half-million companies.
Sarah Feurey | News | 7 June 2013
Mexico’s taxing authority, the Servicio de Administracion Tributaria (SAT), announced May 31st, 2013 that all commercial invoice transactions sent by companies earning more than 250,000 Pesos annually (approximately $20,000 USD) must be submitted to the authority in a standard electronic format for approval effective Jan. 1, 2014.
E- invoicing in Mexico has been in place for several years. This announcement is the latest change that will move almost all companies in the country to this electronic process called CFDI (Comprobante Fiscal Digital a través de Internet or “Digital Invoicing via Internet”.
This process will affect both inbound and outbound invoices.
What will shared services need to do?
Scott Lewin, CEO of Invoiceware International, the largest e-invoicing compliance network in Latin America said, “Those not on the new CFDI process will have to have a project to implement the CFDI. They will have to map to the government standard, they will have to have Full Story – Click Here