e-Invoicing becomes mandatory in Colombia from 2019

factura electrónica colombia

January 1, 2019 sees the start of a new phase for e-invoicing in Colombia. From that date, all those responsible for declaring VAT and Impoconsumo (Consumer Goods Tax) will be obliged to use this new system, according to the changes made in the latest tax reform (Law 1819 of 2016).

The obligation to issue e-Invoices is expected to reach over 800,000 businesses throughout the country, which will mean a real increase in the adoption of this technology. This is the goal being pursued by the National Tax and Customs Directorate (DIAN) with this new requirement, which could also reduce tax evasion rates, modernize tax compliance and increase savings for both the public and private sectors.

Although there is still a little more than a year to go for the system to be extended among taxpayers, the fact is that adoption of the new e-invoicing model will begin beforehand. In fact, for the remainder of 2017 and during 2018 the Tax Authority plans to have at least 50,000 companies billing electronically.

How to begin e-invoicing in Colombia?

Access the full article in www.globaleinvoicing.com.