Argentina Govt. lowers SMEs threshold for non-digital invoices

Friday 5 July 2019 10:00 CET | News

The Argentinian Government has announced that e-invoices must be used between large businesses in certain sectors and SMEs involving USD 47,955 or more.

The previous threshold for non-digital invoices was USD 315,354. The new rules, which follow a pilot scheme announced in January 2019, apply to large companies in the automotive, financial intermediation, insurance, water, manufacturing, waste management, electricity and gas sectors, among others.

Under the system, an SME that submits an electronic invoice to a client in this category can either wait to be paid or transfer the invoice to securities depository Caja de Valores. Once in the depository, the instrument can be sold by the SME in the capital markets or the financial sector.

Authorities are also bringing construction and other industries into the framework. And from August-October 2019, the rules are scheduled to also start applying to agriculture, health, communications and retail and wholesale, among others, Argentina’s production ministry said in a statement. The digital invoicing thresholds for all business sectors will gradually be reduced to zero.

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Keywords: Argentina, SME, mandatory e-invoicing, e-invoicing, Agentinian Government, digital invoice, capital market, electronic invoice, business process automation
Countries: World