Andean Zone Compliance Roadmap 2021
Electronic invoicing in Colombia has been a major component of compliance novelties in 2020, and it is expected to be so in 2021 as well. The Colombian government’s electronic invoice mass implementation phases will be completed this year and will be mandatory for 100% of taxpayers.
The Dirección de Impuestos y Aduanas Nacionales (DIAN), Colombian tax authority announced major changes in 2020 that will be consolidated in 2021. Companies will have to adapt their system their POS systems to comply with the “Resolucion 000042” which will make it mandatory to issue equivalent electronic documents.
The strengthening of the electronic invoicing system in the country signals the beginning of the digital government transformation. “the following steps will be focused on the consolidation of new messages and leveraging the electronic invoice to facilitate factoring. This will give agility and simplicity to negotiations and give companies greater access to liquidity” states Cristian Uribe EDICOM Colombia Country Manager.
Among the new messages that the DIAN will incorporate to the electronic invoicing system, support documents, employee payrolls and point of sale invoices will be the most widely adopted.
Another highlight of the expanding e-government functionalities will be the new platform called the RADIAN that will be used to promote invoice factoring. Through this new platform the DIAN will manage electronic sales invoices of securities and will register all the changes that are made to the invoice, from its creation to its sale through market agents. The traceability of these documents will be available on the RADIAN platform.
Companies and the government must still overcome certain obstacles to guarantee the success of the mass adoption of the electronic invoice. On one side “it is very important to automate the reception process for companies to optimize their internal processes”, On the other side “the government still has to step up to the challenge of providing internet access in rural areas of the country” Says Uribe.
Although the government continues to take steps towards a more digitalized economy, the Colombian business ecosystem is still quite timid regarding digitalization. “in Colombia we find ourselves in an initial stage of digital transformation where companies have not yet adopted this process. Very few have dared to fully dive into this new digital transformation paradigm, perhaps because they are not familiar with the process, are afraid of making the leap, or because of the lack of public policies focused on digital transformation”, states Uribe.
However, the fact that digital transformation in Colombia is in its nascent stages opens a world of opportunities for the optimization of business and government managerial efficiencies.
At EDICOM we are working to help companies with their digital transformation. As a Digital Certification Authority in Colombia “we are improving our platform to centralize the signature, approval, and storage of electronic documents, to push and facilitate the digital transformation of private companies, especially during this health crisis where digital solutions have shown their full value” states Cristian Uribe.
Our invoicing solution is being prepared to be adapted to the new changes announced by the DIAN. We proactively evaluate and analyze the changes published by the government so that we can adapt our solutions in a timely manner to ensure that our clients can comply with their reporting obligations.
Additionally we are adapting ourselves to new sales channels for our clients through e-commerce and marketplaces through our new integration platform called iPaaS.