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Mexico, like many of its Latin American neighbors, relies on a value-added tax, or VAT, to raise a substantial portion of its government revenue. The VAT essentially requires companies to act as tax collectors on their own transactions, so it relies on accurate invoicing to confirm proper remittances.

In recent years, Mexican tax authorities have increasingly turned to electronic solutions to detect errors and/or fraud in tax reporting, and have promulgated e-invoicing and e-accounting regulations aimed at increasing the efficiency of government audits. These efforts have clearly paid off, resulting in a 34 percent increase in VAT collections in just a single quarter.1

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