The tax authority (SET) issued a Decree on 27 September 2017 (N° 7795/17) including the creation of the National Electronic Invoicing System (SIFEN). This means that in the short-term the issuance of electronic invoices will be mandatory for local companies (2020).
The SET issued electronic invoicing regulations during the 2018, outlining the conditions and requirements to start the pilot project to implement the SIFEN, including a Technical Manual that describes the main requirements for the electronic invoices.
14 local taxpayers integrated the Pilot Project and, in November 2018, these companies issued the first electronic invoice.
During 2019, the SET will start the second stage, called the 'Voluntary Stage', in which the local taxpayers that will participate in this stage have the intention to become electronic invoice issuers.
In addition to this, the Chamber of Senators approved the Law proposal regarding the elimination of bearer shares (equities without owner identification). According to this law, the companies' shares must be nominated within two years from the date of the law enacted by the government.
The government has announced the start of the process to apply to the Organisation for Economic Co-operation and Development (OECD) as a full member. In that context, Paraguay issued a General Resolution that designated a local Committee (including public and private people) in order to analyse a Tax Reform that will include transfer pricing rules, among others modifications.