Friday 7th June, 2013

The drive towards mandating the use of einvoicing continues to march forward with the dual announcements from Italy (which announced its intention to mandate its use this week), and the extension of existing mandatory regulations in Mexico. The trend is being driven by the culmination of a number of different factors – the economy, technology driven ability and a solid belief in the cost and associated benefits of doing so. Perhaps overriding all of this though - governments have woken up to the fact that not only does einivoicing speed the process up and save money, it also makes things a lot more visible – making it harder to hide, easier to trace and to ensure tax, and other compliance

Mexico’s recent announcement has shaken a business world which thought they’d be safe continuing with the old CFD process with the news that it will no longer be valid from 1^st Jan 2014 when enterprises will have to be in a position to handle CFDI XML. The change brings compliance into even sharper focus and drills mandatory einvoicing deeper into the business community. It remains to be seen what they will make of these changes, but the fact that they will have to rise to the challenge pretty quickly is beyond doubt.”

Further implementation and regulatory information