eInvoicing Solution for Compliance with Tax Authorities
Meade Willis’ eInvoicing Solution for Compliance with Tax Authorities
With the advent of technology and the shift from paper-based invoices to eInvoicing, tax authorities have begun mandating the registration of e-invoices in their systems.
Electronic invoices must be processed and stored in a way that their authenticity can be established, and the tax authority requirements can be met. Audit requirements for tax invoice compliance differ from country to country. However, for all countries with einvoicing requirements, there are two concepts that are fundamental to compliance: the authenticity of the invoice and its integrity. Adhering to local invoice compliance rules and tax regulation is a mandatory part of conducting business.
Meade Willis’ XRP eInvoicing solution supports local tax authority requirements so companies do not need to worry about compliance. The process involves the integration and translation of data between companies issuing invoices, their customers, third parties, as well as local tax authorities. All compliance interfaces are available online through Meade Willis’ web portal or machine-to-machine options, making it easy to access and retrieve invoice information for the relevant tax authority and auditors. Meade Willis’ eInvoice solutions also integrate with a number of third party providers to offer comprehensive global coverage.
Compliance With SUNAT – Peru
According to SUNAT’s regulation (National Customs and Tax Administration in Peru), an invoice issued by electronic means has the same legal value as its paper equivalent and provides greater advantages in terms of security and optimization of administrative management. SUNAT requires the adoption of certain technical requirements by senders and receivers of invoices, which includes electronic communication with SUNAT’s system. Meade Willis’ Electronic Invoicing solution has been 100% adapted to Peruvian regulations, meeting all requirements established by SUNAT.
SUNAT has identified a select group of technology providers to validate and authorize all invoices submitted by Peruvian companies. The goal is to further close tax loopholes and promote tax compliance across the country. As a SUNAT recognized electronic invoicing and service provider, Meade Willis is proud to offer a full range of invoice issuing and invoice receiving solutions.
Meade Willis’ XRP Electronic Invoice Receiving Solution:
Meade Willis’ XRP e-Invoice receiving solution allows companies to virtually connect to their suppliers, automating workflows that gather, process, and manage all daily incoming invoices.
This powerful solution allows suppliers to use different data entry methods via multiple entry points. After invoices have been sent, Meade Willis’ platform converts the files into a format preferred by the receiver. The system is also capable of automatically sending invoices into a web portal for viewing and troubleshooting, or directly into ERP/internal systems. Pre-set business rules can be applied to the solution and can include complex validations along with country-specific compliance requirements, digital signatures, local soil archiving and error handling.