Peru introduces electronic VAT invoices
- 25 October 2014 | Richard Asquith
Peru this month became the latest South American country to introduce electronic VAT invoices. Ecuador and Mexico also recently introduced such measures.
The Tax Administration is aiming to reduce the amount of VAT fraud in the country with the long-term aim of forcing companies to submit electronically all transactions for statistical analysis to the tax office.
The administration has confirmed the names of all companies and organisations which must have implemented e-invoices at the start of this month. However, it has been granting dispensation where companies can demonstrate a clear implementation plan for 1 April 2015.
Any companies which fail to meet these deadlines will lose the automatic right for their customers to claim input VAT deductions.