According to the source, the Dirección de Impuestos y Aduanas Nacionales (DIAN), Colombia’s version of the Internal Revenue Service, cites several benefits of making such a move, including: strengthening the country’s competitiveness in the region, helping small and medium sized businesses gain access to improved financing mechanisms and increased liquidity, and allowing companies to achieve reductions in the costs associated with internal invoicing processes.
However, the source points out, it is important to keep in mind that the main reason Colombia is passing this legislation is to improve its own tax and fiscal status, not to help individual business. In coordination with the Ministerio de Hacienda y Credito Publico (treasury department) and the Ministerio de industria, comercio y turismo (department of travel, commerce and tourism), the DIAN is expected to introduce its e-invoicing law - Decreto de masificacion de la facture electronica – in 2015. The 2015 goal set by the DIAN is to mandate at least 830 companies with the new electronic invoicing model.
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