In recent years, Paraguay has undergone a significant digital transformation, with electronic invoicing emerging as a key tool for modernizing tax processes. This evolution facilitates tax compliance while offering businesses substantial benefits in efficiency and cost savings.
Within this framework, MiFactura presents itself as a comprehensive solution for electronic invoicing in Paraguay, helping businesses of all sizes comply with current regulations efficiently and securely.
What is Electronic Invoicing?
Electronic invoicing is a digital system that enables the issuance, receipt, and storage of invoices entirely electronically, with the same legal value as paper invoices. In Paraguay, the National Tax Directorate (DNIT) leads the implementation of electronic invoicing through the National Integrated Electronic Invoicing System (SIFEN), which connects businesses to the country’s tax system.
Progress in Implementation
Since the Subsecretariat of State for Taxation (SET) launched the pilot program in 2017, the adoption of electronic invoicing has grown significantly. By the end of 2024, it is expected that electronic invoicing will become mandatory for more sectors. A key recent advancement is the increasing availability of technological tools that simplify the transition to this system, such as MiFactura.
MiFactura is a platform designed to easily adapt to any business’s needs, streamlining the issuance, validation, and storage of electronic invoices in compliance with SIFEN requirements.
Benefits of electronic invoicing with MiFactura
- Simplified compliance: Ensures that all invoices are issued according to SIFEN regulations, guaranteeing legal compliance without technical complications.
- Cost reduction: Digitalizing the invoicing process eliminates expenses related to paper, printing, and physical storage, resulting in immediate savings.
- Automation and efficiency: Automates the generation and delivery of invoices, reducing human errors and accelerating the invoicing cycle.
- Secure access and traceability: Provides quick and secure access to electronic invoices, facilitating searches, audits, and fiscal controls at any time.
- Adaptability for SMEs: Suitable for large enterprises and small-to-medium businesses alike, helping SMEs adopt this technology without significant investments.
Why is electronic invoicing important in Paraguay?
Beyond regulatory compliance, electronic invoicing is vital for modernizing Paraguay's business landscape. Automating processes and reducing reliance on paper not only improves internal efficiency but also contributes to greater fiscal transparency and the digitalization of the economy.
With tools like MiFactura, Paraguayan businesses can ensure they are maximizing the benefits of electronic invoicing. This platform is designed to provide fast and secure solutions, allowing businesses to focus on what truly matters: growing and enhancing their competitiveness.
