The electronic invoicing in The Dominican Republic is getting stronger. As of last January, companies and private individuals can voluntarily adhere to the new electronic invoicing system of the DGII (the Dominican Republic Tax Authority), as the pilot started in February 2019 concluded with success. This way, companies can communicate and send legal tax receipts to the public authority electronically.
The implementation of this electronic system is a big step for the country and matches the system of the majority of countries in South America where an electronic invoicing system is already in place. For example, Mexico is processing 10 trillion electronic invoices per year.
So far, the DGII has received 700 thousand electronic tax receipts. The implementation of this electronic system contributes to the mitigation of the tax evasion, one of the main issues of the country and it is a big help for the administrative departments, especially those who manage hundreds of transactions per day, as it reduces the administrative, logistics and treasury expenses.
However, the DGII has not set a date for this system to come into force for companies.
baVel during the pilot
The pilot for electronic billing involved 10 large companies of the Dominican Republic and lasted 11 months. From those, 4 companies trusted baVel as their technological partner: CCN (Centro Cuesta Nacional), Distribuidora Corripio, Cervecería Nacional Dominicana and Nestlé.
baVel has developed the integration with the DGII and it assures the connectivity with the tax authority to those companies using the platform. At the moment, the CCN, one of the most important companies in the country, has an integral solution to send electronic invoices not only to the DGII but also to all their electronic clients complying with the legal requirements and using a digital signature to send and validate documents via the baVel platform.
The baVel platform in the Dominican Republic
The digitization of the invoicing processes is key for the digital transformation of the back-office processes of the Dominican companies. Electronic invoicing mitigates the administrative expenses thanks to the automation of processes and digital reconciliation. Furthermore, it adds extra services such as invoice validation, reception notifications and a shorter average payment term.
In this line of work, the baVel platform facilitates the exchange of transactional information between clients and providers, helping digitize the supply chain and automating the administrative processes.
Furthermore, baVel closes the billing cycle offering online payment solutions via baVelPay by Visa, a solution developed next to Visa and made for large companies with high buying volume that need to quickly and efficiently issue payments to suppliers across the country.
At the moment, baVel has more than 6 years of experience in the Procurement sector and works with more than 300 Dominican companies.