The F1 Mexico company stated that small and medium-sized companies that have not yet ventured into the world of electronic invoicing will have to do so this year.
"There are still companies that have preprinted receipts/vouchers from 2010 that are due to expire in 2012; as such, when these vouchers are no longer valid and no later than December 31, 2012, they are required to convert to electronic invoice models," said Marco Antonio Bolaños Delgado, an electronic invoice specialist with the firm.
The analyst added that one of the advantages of electronic invoicing is that the company can be built into the model and works concurrently with the printed version.
In order to issue electronic invoices, the first step is to secure an Advanced Electronic Signature (FIEL, as per the Spanish acronym). This is obtained at the Tax Administration Service (SAT, as per the Spanish acronym).
Taxpayers with an income greater than 4 million pesos a year are required to invoice electronically.
Taxpayers with an income equal to or less than 4 million pesos a year can issue printed tax receipts containing a bar code.
Taxpayers who have printed receipts/vouchers can continue using them until the 2-year period of validity expires.
Source: www.eluniversal.com.mx, www.sat.gob.mx
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