Colombia is Expected to Begin New e-Invoicing System Compliance in Early 2016

Colombia is making leaps to begin enforcing e-Invoicing adoption with a new approach to their existing legislation.  Colombia so far has experienced a very low adoption rate based on a voluntary and open system model from 2007 resolutions.  The DIAN, National Customs and Tax Directorate has a pending decree for final approval of a new electronic invoicing system which is expected to take effect in early 2016 and will replace the existing regulation.  Santiago Rojas, the head of DIAN, has stated that the regulation governing the new system will soon be published and the goal is to achieve its widespread use in 2016.

The new electronic invoicing system (SIFEL) will be applied, in the first place, to 800 companies chosen by the DIAN to replace or adopt within six months after being notified.

The are many benefits to the new system with the main goal of having greater fiscal control, but also improving cash flows in the private and public sectors. 

The new model has specific features that are similar to other early adopters such as Chile, Argentina and Mexico.  Here are a few of the main features and differentiators.  The new e-Invoicing model, SIFEL, will require registration and publication in the DIAN’s electronic catalogue.  The obligations extend to receiving parties or procure-to-pay process flow.   In this sense, the receiving party has the obligation to notify early on if the e-Invoice is accepted.  For security and non-repudiation reasons, beyond the regular certificate signing, the paper document will contain a 2-D barcode plus there will be consecutive pre-assigned numbering for each e-Invoice referred to as CUFE.

If you would like more information, please reach out via this blog.