The board resolution 024-2007, which establishes an optional electronic invoice system called “FACE” for the authorization, issuance and transmission, conservation, storage, and control of invoices, credit notes, and debit cards via email, as well as the receipt of copies of invoices, credit notes, and debit cards issued on paper, was amended by a bill passed by Guatemala’s Tax Authority in August 2011.

According to the decision of the Guatemalan Tax Administration, the major contributors are required to provide electronic invoices by the end of 2012. Companies that generate more than 1 million invoices annually are subject to the requirement. Through the end of March 2013, those businesses that generate between 1501 and 3,000 invoices annually will be incorporated gradually.

In Guatemala, electronic invoicing has taken the place of paper invoices. An electronic record that details a business transaction, payment responsibilities, and tax preparation is what an electronic invoice actually is. A bill that has been approved by the SAT and for which registration is issued, filed, and maintained electronically is also included in the electronic invoice. Its goals include lowering corporate expenses in Guatemala and making it easier to comply with tax requirements. The Electronic Invoice provides the following guarantees:

• Existence and lineage of issuer
• The veracity of the information
• The monitoring of “real-time” invoicing.
• Access to information and reproducing copies are both made simple
• Identical legal standing as a printed invoice
• The same recognition as a printed invoice or document
• It has a unique Issue Authorization Code (FAC) that enables the confirmation of crucial data.

In Latin America, Guatemala is another nation that has adopted and requires the usage of electronic invoicing. Although Brazil, Mexico, and Argentina have taken the lead in compliance, I believe more nations will follow suit as they observe their neighbours’ achievements.