Month: March 2023

The National Government regulated the electronic invoice as a security title through decree 1154 of 2020. This resolution intends to electronically register the sales invoice as a security title for its circulation in the national territory, allowing consultation and traceability to the registry users.

Although the tax regulations for electronic invoicing had already been established, there was still a regulatory challenge regarding the electronic negotiation of the invoice when it was converted into a security.

You may also be interested:  Electronic invoicing, the first step for the transformation of your processes .

It is a negotiable document (the person who owns it can sell it), necessary to certify, legitimize or guarantee the rights or benefits of its legal holder (the one that the law recognizes as the owner of the title) and the obligations of the person who issued it (the person who decided to create the title).

Its negotiability allows it to circulate freely like any other good or service, contributing to the development of the country’s economy. To date, only the traditional paper invoice was the only one that could be registered as a security; With the new standard, your electronic sales invoices can now be validated in this way.

• Acknowledgment of receipt of the electronic invoice.
• Reception of the merchandise and/or goods previously validated by the DIAN to the suppliers.

El Radian is a platform of this entity that allows you to validate your electronic sales invoices as a value, to manage their registration, consultation and traceability and the events that are associated with them. To do this, you must have a technology provider and follow the registration process  as indicated by the DIAN .

The seller is now called the issuer of a security and has the possibility of sending the event to the DIAN to receive the money he needs.

You can also reject the operation totally or partially, either because you were not satisfied with the good or service provided or because you had a documentary error.

In the event that the buyer does not send the two events mentioned to his supplier with the prior approval of the DIAN, the electronic invoice cannot be included as tax support in his sales or income tax returns or in a request for refund of positive balance.

• Companies will be able to access immediate liquidity, that is, it allows short-term financing.
• The buyers of the invoices will be able to negotiate them freely, which makes it possible to speak of a new actor regulated in the decree: electronic negotiation systems.
• Entrepreneurs will be able to negotiate invoices from the comfort of their offices, without delivering physical documents.
• Companies, especially SMEs, will have full guarantees of legal validity and security in transactions.
• There will be a reduction in printing and document distribution costs.
• Hours of work will be reduced each year, since the time spent in the issuance and delivery of invoices is minimized.
• It will contribute to caring for the environment, by reducing paper consumption.
• It will reduce the costs of spaces for the physical invoice file and of people in charge of caring for and managing these documents.
• It will generate a positive impact on the national economy, because its use will help reduce tax evasion, due to the traceability that the Radian will carry.

As indicated by  Mario José Márquez Olier , Associate Partner Ernst & Young and Former Director of National Taxes and Customs at the DIAN, in an economy of more than 4 million daily electronic invoices, of which approximately 60% are on credit, the Companies that buy goods and/or services have a new challenge since the new resolution was announced.

The application of these events will allow  electronic factoring to be triggered, especially for SMEs. In Chile, for example, e-factoring corresponds to 12% of GDP, this has been achieved due to mass electronic invoicing during the last six years.

If Colombia were to reach these levels (currently e-factoring is equivalent to 2.4% of GDP), according to Márquez Olier, in the coming years we would have the potential to inject more than $100 billion of fresh resources annually into the business economy, mainly benefiting the SMEs.

For this reason, it is necessary to start implementing this regulation as soon as possible and leave this legacy in the country. At Cadena, for example, we have technological solutions to take electronic invoicing to another level. Learn more on  our website .

With the advent of  new digital reorganization technologies  for companies, such as  electronic invoices ,  blockchain  or  big data , the door was also opened for  electronic factoring  to become a reality in the country’s business sector.

Electronic factoring is a  short-term financing mechanism , by a financial institution, which advances the payment of a receivable invoice.

In short, the company issuing the invoice  receives the money in advance, in exchange for assigning the credit  (an electronic invoice receivable) to a third party. The latter must pay the balance in an almost immediate term, assuming a discounted percentage, for the factoring service.

Factoring is an opportunity to achieve  greater liquidity , since it allows you to collect in advance those invoices that have a due date of 60 or 90 days.

• Client or issuer:  is the first legitimate holder of the invoice, who generates a charge for the sale and who wishes to obtain liquidity.
• Payer, receiver or acquirer:  is the person who received the good or service from the issuer and, therefore, must pay the invoice.
• Factor or buyer:  it is the financial entity or the third party that negotiates and buys the electronic invoice from the issuer at a discount rate and who will later charge the payer for the total amount of the invoice.

It is important to mention that the authorities that dictate, monitor and administer the country’s tax control also interact in this process   . In the case of Colombia, the  DIAN.

• Non-recourse factoring:  the factor assumes the risk of non-payment of the payer.
• Factoring with recourse:  the issuer is responsible for the risk of insolvency of the payer.
• Factoring with notification:  the factor notifies the payer of the assignment of the invoice and, therefore, the payer will be obliged to cancel the factor, according to the conditions.
• Factoring without notification : the payer, not having information about the negotiation of the invoice, pays the issuer. In this case, the issuer can be appointed collection agent.

Sí, el Gobierno Nacional reglamentó con el decreto 1154 de 2020 que la factura electrónica puede negociarse y tratarse con la naturaleza jurídica que tiene un título valor, facilitando su circulación en el territorio nacional.

La DIAN garantiza la consulta, trazabilidad y unicidad de estos títulos valores en su Registro centralizado de facturas electrónicas, según Mario Márquez Olier, gerente de Factura Electrónica en la Dirección de Impuestos y Aduanas Nacionales (DIAN).

Asimismo, para este fin, se creó el Radian; una plataforma que permite a las empresas negociar las facturas pendientes y que llevará un registro del historial de créditos comerciales de las facturas electrónicas.

According to Mario Márquez, in the coming years we would have the  potential to inject more than $100 trillion of fresh resources annually into the business economy  . For this reason, it is imperative and necessary to implement electronic factoring in the country.