e-Invoicing in Colombia

  • Industry News
  • Posted by: admin
  • Jan 31, 2017
  • Reading Time: 2 minutes

According to the Colombia e-Invoicing Pilot Program, it is expected that majority of the taxpayers will implement e-Invoicing in Colombia by 2018. The e-Invoicing program concluded on social and economic benefits that will boost competitiveness and growth of the economy.

Colombia mandates electronic Invoicing

The program includes 57 volunteer companies of diverse industries and sizes from April through October 2016. On October 26, 2016 the DIAN announced the successful completion of e-Invoicing in Columbia pilot program.

einvoicing in columbia

Also, DIAN used the pilot to improve its procedures, address participant concerns and determine if the e-Invoicing in Colombia are according to its standards. After successful completion, the tax administration will first enable taxpayers to voluntarily opt in to start electronic invoicing before it starts mandating compliance, which is anticipated to begin in 2017. The first wave of mandates more likely to affect large enterprises!

By following the models of Mexico, Chile, and Brazil, the DIAN has already declared that mandates will be based on the following criteria:

  • – Volume of transactions
  • – Industry / sectors with the greatest risk of tax evasion
  • – Revenues
  • – Volume of assets
  • – IVA refunds

Learn more about current Colombian implementations here

Invoicera the most powerful online invoicing solutions manages business processes effectively and efficiently. Choose a custom invoicing solution with the host of benefits including:

  • – Integration with legacy systems (ERP and CRM solutions)
  • – Multicurrency and Multilingual support
  • – Recurring billing
  • Client/vendor panels
  • Online payments through 25+ payment gateways
  • – Account receivable and account payable management
  • – Custom workflow management
  • – Financial reporting and analysis

Improve cash flow and increase efficiency using e-Invoicing solutions!

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admin

Veronika Tondon is a business enthusiast. She writes about emerging technologies and opportunities for business. She is working as a Marketing Manager with Invoicera, a leading cloud-based invoicing solution.

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