Thursday 16th January, 2014

Argentina has listed six new sectors which must join the special regime for issuance and electronic safekeeping of original invoices. The sectors to be mandatorily incorporated into the electronic billing system have been segmented into 6 different groups according to the type of activity they engage in. Gradually, all of them must migrate to the electronic billing system regulated by AFIP.

The deadline is set for 1 April 2014 for companies in the first group to have their IT systems ready to carry out electronic invoicing. According to the documentation, the first group contains utilities and telecommunication businesses amongst others.

The new resolution includes some of the key production sectors for the country's economy, a factor highlighting the government's growing drive to drive the electronic model, which provides greater fiscal control of economic transactions and cost savings compared to traditional business management.

Among these major sectors, public services provider companies (electricity, water and natural gas), may form a cluster of over 2,432 businesses generating 119 million invoice receipts annually.

The construction sector's presence is also extended, bringing an additional 66,323 taxpayers under the aegis of the new resolution.

Another important sector, real estate services, adds another 163,959 taxpayers to the 180,637 currently registered. The end result is that 344,596 taxpayers in the sector will be issuing invoices electronically.