13.000 companies shall implement new billing system in November

From November 1, the Internal Revenue Service (SRI for its Spanish acronym), will apply the electronic billing service for special taxpayers and exporters.

Among the firms that shall use the electronic billing system compulsorily are: financial institutions under the control of the Superintendency of Banks and Insurance, Special Taxpayers that perform economic activities related to telecommunications and paid TV, and qualified exporters by the SRI as special contributors.

With the new regulations, it will be allowed that legal documents such as invoices, credit notes, debit notes, income tax vouchers and reference guides, are issued electronically.

SRI authorities noted that electronic vouchers will have the same validity as paper documents. This system will help to reduce the shipping time of vouchers, stationery savings, environmental care and a safer document backing system.

According Leonardo Orlando, SRI Deputy Director, it is expected that 13,000 companies already have the new electronic billing system in November. Other companies such as credit cards issuing and administrator companies already manage the electronic system since August compulsorily.