Argentina Extends Timeframe for MiPyMEs Electronic Credit Invoices
The Secretariat for Small and Medium Enterprises (MiPyMEs) in Argentina has announced an extension for the acceptance and rejection of Electronic Credit Invoices (FCE) under Resolution 480/2024. From November 1, 2024, to October 31, 2025, businesses will have a 21-day window to approve or reject these invoices, aligning with provisions in the “Productive Financing Law” (Law 27,440).
E-Invoicing in Argentina at a Glance
Electronic invoicing is mandatory in Argentina for all taxpayers, including self-employed workers. It streamlines operations across various sectors, with different invoice types issued based on tax status and the nature of transactions, such as A, B, C, and export invoices. All invoices must be authorized by the Federal Administration of Public Revenue through a system that includes a unique Electronic Authorization Code and a QR code.
The Electronic Credit Invoice System
For businesses operating within Argentina, particularly small and medium-sized enterprises, the transition to electronic invoicing has brought significant changes to how invoices are issued and managed.
For MiPyMEs, the Electronic Credit Invoice (FCE) system enables these businesses to receive early payment on invoices, especially when dealing with larger companies. By issuing an FCE, MiPyMEs can improve their working capital and secure faster payment cycles. Both the issuer and the recipient must have established an Electronic Tax Address, and the invoice issuer must have a registered bank account to participate in the system.
The Process of Accepting or Rejecting FCE
- Once an invoice is issued, the receiving company has the option to accept or reject the FCE within the specified period. If the FCE is not accepted or rejected within the deadline, it is automatically deemed accepted.
- After acceptance, the FCE becomes a negotiable and non-negotiable security.
- The payment process can then begin.
Benefits for MiPyMEs: Speeding Up Payment and Enhancing Cash Flow
For SMEs working with larger businesses that have adopted the FCE, the system also facilitates the use of an open circulation system. In this system, SMEs can endorse, transfer, or discount their invoices through home banking or other digital platforms, making it easier to manage cash flow. Since the system was activated in April 2024, both SMEs and large companies have been required to update their invoicing systems to comply with the new regulations.
This extension for MiPyMEs comes at a time when Argentina is also introducing new measures to encourage tourism and streamline invoicing across other sectors, including the hotel and livestock industries. The deadline extension provides MiPyMEs with more time to adapt to the new requirements, integrate digital invoicing systems, and ensure compliance with tax laws.
The Future of Electronic Invoicing in Argentina
For MiPyMEs, the adoption of electronic invoicing and the FCE system offers the dual benefits of improving tax compliance and securing faster payments, ultimately contributing to their growth and financial stability. The extended deadline until October 2025 ensures that these businesses will have ample time to fully integrate these new systems into their operations.
There’s more you should know about global e-invoicing changes – learn more about the new and upcoming regulations.
