Colombia to enforce e-invoicing system in 2019

The reinforcement of the rule will come into effect starting with January 2019. All Colombian companies will have to have to use the obligatory e-invoicing system platform to send and receive invoices, with all information going through DIAN, the National Colombian Tax Authority.

Among the benefits of adhering to the national e-invoicing platform, the following can be taken into account:

• reduced risk of lost documentation

• efficient document management

• improved traceability and security of operations

• savings in printing and storage

The e-invoice must be sent to the customer and to DIAN within 48 hours of signing the e-invoice, the e-signature can be provided by a certified provider or by the company itself, and all e-invoices must be in XML format.

Local Colombian company and leading back-office service provider, Biz Latin Hub, strongly recommends that all local businesses start to prepare for this new system given that all companies must pass both testing and production phases before beginning e-voicing.