Ecuador will be the next country to join in the e-billing rollout. As of June 1, several sectors are required to switch over to this system, as laid down in Resolution NAC- DGERCGC13 – 00236. However, the adaptation process will be carried out gradually in different stages, culminating in January 2015.
Financial institutions under the control of the Superintendency of Banks and Insurance will be the first to use the electronic invoicing system. Special taxpayers engaging in telecommunications and pay TV related economic activities must join in along with them. The date set for these two sectors is June 1. Later, the Internal Revenue Service (IRS) stipulates another 3 groups:
- As of August 1 2014, credit card issuers and managers will be required to issue electronic invoices.
- October 1 is the date set by the IRS for exporters qualified as special taxpayers.
- Finally, also due to migrate as of January 1, 2015 are:
- Special taxpayers not listed above.
- Taxpayers with authorization to print out sales receipts, withholdings and additional documents through computerized systems (self-printers).
- Taxpayers making sales via Internet.
- Taxable persons carrying out export activities.
These measures implemented by the Ecuadorian government affect not only electronic invoices, but also credit and debit notes, review guides or withholding receipts. The aim is to cut costs and simplify the process. We must also been in mind that these electronic documents are equally valid as those on paper, but provide greater security guarantees and allow for easy storage.
The rollout of electronic billing is now a global trend, due to the numerous advantages it brings. Countries around the world have taken this step towards modernization, which will produce significant cost savings and help reduce environmental pollution.
EDICOM is the international leader in development and implementation of electronic billing solutions. Our platform is aligned with the different standards and legal requirements required in many countries worldwide. Ecuador is among them.
To find out more about this solution which automates the process of generating, sending, receiving and storing electronic invoices, feel free to contact our consultants.