NAFTA Discussions Leave Multinationals in Mexico Uncertain

Oscar Caicedo

The first talks on renegotiating NAFTA begin this month, and with continual discussions of a U.S.-first trade agenda, multinational companies with operations in Mexico are left uncertain on what these talks might entail. While no one knows exactly where these negotiations may land, multinationals should have some answers by the end of 2017, as all parties involved have agreed to an aggressive discussion schedule.

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Topics: Mexico, united states, North America, NAFTA, Canada

Spain SII Requirements Expanded; New Mandates Begin January 1

Ramon Frias

Businesses in two of Spain's autonomous communities - Basque Country and Navarra - will soon be subject to Spain’s Immediate Supply of Information on VAT (SII) mandate. On July 1, 2017, Spain launched SII, requiring companies operating in the country to electronically submit ledger and invoice details. With the extension into two of Spain’s autonomous communities, more business transactions will now be subject to SII compliance.

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Topics: e-invoicing, VAT, Spain, SII, Spain SII

La Compliance Inteligente es clave para el éxito en Latinoamérica

Oscar Caicedo

Toda empresa que opere en Latinoamérica está bien familiarizada con las dificultades que involucradas en las Leyes para la facturación y notas fiscales electrónicas y las normas que rigen los impuestos. Desde cambios constantes en la legislación hasta interrupciones de los negocios y penalidades financieras, los desafíos de seguir las normas fiscales en la región latinoamericana son profundos y siguen agravándose con cada nueva reglamentación.

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Topics: Intelligent Compliance, Compliance Inteligente

Intelligent Compliance Key to Success in Latin America

Oscar Caicedo

Any business with operations in Latin America knows what a burden e-invoicing and tax reporting compliance can be. From constantly changing legislation to business disruptions and financial penalties, the challenges associated with Latin American compliance are profound, and continue to compound with each new mandate.

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Topics: Latin America, Intelligent Compliance

4 Key Changes in Ecuador’s New Offline E-Invoicing Model

Oscar Caicedo

Starting January 2018, all taxpayers in Ecuador will be required to start invoicing under Ecuador’s new offline schema. Announced by the SRI, Ecuador’s tax authority, in 2015, this new e-invoicing model presents both benefits and challenges to companies operating in Ecuador. On one hand, this new process will give companies a slight buffer for compliance, but it also necessities new processes and continues the zero error tolerance that Latin America is known for.

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Topics: Ecuador, Offline Model

Nuevos plazos para la Factura Electrónica 4.0 en Brasil

Oscar Caicedo

El 31 de mayo de 2017 la SEFAZ (Secretaría de Hacienda brasileña), organismo vinculado al Ministerio de Hacienda y principal autoridad tributaria en Brasil presente en cada estado del país−, publicó una nueva Nota Técnica sobre la Nota Fiscal Eletrônica (Factura Electrónica en Brasil, NFe por su sigla en portugués) 4.0, comunicando que el plazo se postergó al 2 abril 2018.

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Topics: Brazil, NFe 4.0

FAQ – Mexico SAT Lessons Learned from Complemento de Pagos

Gustavo Jimenez

On May 2, 2017, we held a webinar titled “Mexico SAT Lessons Learned from Complemento de Pagos” and we would like to share with you some of our most frequently asked questions around Mexico’s upcoming mandate. 

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Topics: Mexico, Pagos, CFDI, complemento de pagos, CFDI 3.3

The State of Regulatory Compliance: Latin America Charts the Course for Intelligent Compliance

Oscar Caicedo

Last week, Sovos issued a new report covering The State of Regulatory Compliance, which details the evolution of technology-driven regulatory trends, as well as how businesses can proactively prepare for the new wave of global compliance obligations. Not surprisingly, the report shines a spotlight on Latin American governments who first introduced initiatives giving governments more visibility into business transactions.

Today, those initiatives are quickly being adopted across the globe, specifically in Europe. Here’s a sneak peek at some of the major Latin American compliance initiatives that European countries are now leveraging: 

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Topics: Account Payable Latin America, Global Compliance

Supply Chain Finance: Optimizing Working Capital

Steve Sprague

Director of Supply Chain Finance at Sovos, Oliver Belin, was recently interviewed by Ron Hesse at GlobalBusinessProfessor.com.

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Topics: supply chain finance, automotive

Mexico CFDI 3.3 and Complemento de Pagos Extension to December 1st, 2017

Gustavo Jimenez

On May 12th, 2017, the SAT (Mexican tax authority) announced that it will be providing taxpayers an extension for the implementation of CFDI version 3.3 and Complemento de Pagos. Starting December 1st, 2017, all taxpayers will be required to comply with the CFDI version 3.3 and the Complemento de Pagos. 

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Topics: Mexico, CFDI
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