- E-Invoicing Framework: Mexico’s e-invoicing system mandates the use of the CFDI standard, requiring all taxpayers to generate and send invoices in a specific XML format to the SAT for validation and clearance, ensuring all parties have consistent data.
- CFDI 4.0 Compliance Changes: The latest CFDI 4.0 version introduced stricter identity verification and data quality controls, impacting B2B transactions by requiring detailed recipient information and validating it against SAT records, which emphasizes the need for robust compliance processes.
- Consequences of Non-Compliance: Non-compliance with e-invoicing regulations can lead to significant fines, restrictions on invoicing capabilities, and potential business closure by the SAT. Companies must maintain strict adherence to technical specifications, validation processes, and recordkeeping to avoid penalties.
Source eezi – Powered by VAT IT
- See also
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
- Join the LinkedIn Group on ”VAT in the Digital Age” (VIDA), click HERE
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