Ecuador imposes e-invoices
In an attempt to reduce VAT fraud, Ecuador is imposing the obligation on tax registered businesses to switch from paper to electronic invoices. The measure came into force at the start of this month.
The tax authorities have provided an online portal tool for all customers presented with e-invoices for them to check the authenticity of any invoice presented to them. However, suppliers must have secured the written permission of their customers before switching to electronic invoices.
Compulsory e-invoices for targeted industries
Electronic invoices are now compulsory in Ecuador from 1 October 2014 for financial services firms – banks and insurers. A number of other industries are included, including media, credit card companies and exporters. From 1 January 2015, e-commerce businesses will have to produce e-invoices, too.
The move follows similar electronic invoice changes in Mexico.
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