Here is an excerpt from one of my readers this week:
In a press conference held on September 3, 2010, Mexico’s SAT announced new compliance laws for electronic invoicing which will take effect January 1, 2011; and the impact on business processes will be significant for companies that haven’t prepared in advance. Many companies are still adapting to the major changes that went into effect in 2009 in Mexico requiring companies to either obtain invoice forms from the government or adopt an e-invoicing solution to replace traditional paper invoices.
Based on the released information, the new compliance mandates being instituted next year in Mexico will:
- Take effect January 1, 2011
- Eliminate folio numbers which are replaced by digitally signing and archiving an invoice with a valid timbre number
- Require regulatory compliance checks with government certified organizations for both senders and receivers of invoices
- Invoices in excess of 2,000 pesos must be approved digitally
I will be gathering additional information over the next few weeks and posting it here.