Chile imposes electronic VAT invoices

Tue 21st Jan 2014
The new 2014 VAT compliance act has introduced a number of changes to the Chilean VAT regime.

Compulsory electronic invoices

All taxable businesses must now only provide electronic invoices, credit notes etc.  This will come into effect from 1 September 2014.
THe only exception is where companies can demonstrate no or poor web access.  For the timing being, delivery and goods received notes can be either electronic or paper.  Businesses are permitted to retain these documents long term in paper form.
Payments by bank credit or debit cards will no longer have to be supported by a separate sales invoice is the payment details receipt holds the necessary normal invoices requirements.  This exemption will come into force from 2015.
Recipients of services shall be entitled to deduct input VAT on electronic invoices on condition that they also produce a written goods or services receipt acknowledgement.


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