We Connect to Your Tax Authority: Revenue Verification That Doesn't Trust Spreadsheets
Every financing platform in Latin America asks you to upload financial statements. You export a PDF from your accounting system, maybe a bank statement, maybe a balance sheet your accountant prepared. The platform reviews it, maybe asks some follow-up questions, and makes a credit decision.
Here is the problem: those documents are only as trustworthy as the person who prepared them.
We do not trust spreadsheets. We connect directly to your country's tax authority, SII in Chile, SAT in Mexico, SUNAT in Peru, DIAN in Colombia, and pull verified revenue data that you cannot fabricate.
This post explains how that integration works, why it matters, and what it means for your financing evaluation.
The Problem with Self-Reported Financials
In traditional lending, financial verification follows a predictable pattern:
- Borrower submits financial statements (often self-prepared or accountant-prepared)
- Lender reviews statements, cross-references with bank records
- Lender may request audited financials (expensive, time-consuming)
- If discrepancies exist, lender asks for explanations
- Decision is made based on a combination of submitted data and lender judgment
This process has several fundamental weaknesses:
| Weakness | Impact |
|---|---|
| Financial statements can be fabricated or embellished | Inflated revenue, hidden liabilities, fictional clients |
| Bank statements show cash flow but not revenue source | Cannot distinguish operating revenue from loan proceeds or inter-company transfers |
| Audited financials are expensive | $10K-50K+ for proper audits, pricing out small operators |
| Point-in-time snapshots | Statements show one moment; they miss seasonality, trends, or recent deterioration |
| Jurisdictional variation | Different accounting standards across LATAM countries make comparison difficult |
According to the Association of Certified Fraud Examiners (ACFE), financial statement fraud accounts for approximately 10% of all reported fraud cases but causes the largest median losses, over $590,000 per incident. In emerging markets with less regulatory oversight, the problem is amplified.
The Solution: Government-Verified Revenue Data
Every business in Latin America that operates formally submits tax declarations to its national tax authority. These declarations include:
- Revenue reported (invoiced sales)
- Tax payments made
- Business registration status
- Electronic invoicing history (where applicable)
- VAT/IVA credits and debits
This data is verified by the government. It is legally binding, submitting false tax declarations is a criminal offense in every LATAM jurisdiction. It is, by definition, the most trustworthy financial data available for any business.
When you connect your tax authority account through our platform, we access this verified data with your explicit authorization. We do not see your tax strategy, your deductions, or your personal financial information. We see what the government has verified: your revenue, your tax compliance, and your business status.
How It Works by Country
Chile, SII (Servicio de Impuestos Internos)
Chile's tax authority is the most digitally mature in Latin America. The SII has been a pioneer in electronic invoicing (mandatory since 2014) and digital tax administration.
Integration method: BaseAPI SDK (v1)
| Feature | Detail |
|---|---|
| API endpoints available | ~85 |
| Authentication | Certificate-based (digital certificate issued by SII) |
| Data accessible | Revenue (F29 declarations), invoicing history (DTE), taxpayer status, VAT credits/debits |
| Free tier | Yes, basic endpoints available at no cost |
| Electronic invoicing | Mandatory for all businesses since 2014 |
| Maturity | Most mature in LATAM, stable APIs, well-documented, active developer community |
What we verify:
- Monthly revenue via Form F29 (monthly VAT declaration)
- Invoice-level detail via Documentos Tributarios Electronicos (DTE)
- Taxpayer compliance status (al dia vs. con deuda)
- Business activity codes and registration date
Why Chile is the gold standard: Every invoice issued by a Chilean business is registered electronically with the SII. There is no "off-the-books" invoicing for formal businesses. When we pull your SII data, we are seeing every peso of revenue you have declared, verified by the government, cross-referenced with your counterparties' declarations (since both buyer and seller must register each transaction).
Mexico, SAT (Servicio de Administracion Tributaria)
Mexico has the second most sophisticated tax digitization system in Latin America, driven largely by the CFDI (Comprobante Fiscal Digital por Internet) electronic invoicing system that became mandatory in 2014.
Integration method: Via Belvo/Syncfy widget
| Feature | Detail |
|---|---|
| Integration approach | Third-party aggregator (Belvo or Syncfy) with pre-built SAT connection |
| Authentication | RFC + CIEC credentials or e.firma (advanced electronic signature) |
| Data accessible | CFDI invoices (issued and received), tax declarations, taxpayer status |
| Electronic invoicing | CFDI mandatory since 2014, CFDI 4.0 since 2022 |
| Maturity | High, robust electronic invoicing, good third-party ecosystem |
What we verify:
- Revenue via issued CFDIs (every invoice is registered with SAT in real-time)
- Payment verification via complemento de pago (payment receipt linked to original CFDI)
- Tax compliance status (opinion de cumplimiento, a formal compliance certificate)
- Historical invoicing patterns and trends
The CFDI advantage: Mexico's electronic invoicing system is arguably the most comprehensive in the world. Every invoice, every single one, is validated by the SAT before it is legally valid. The XML file includes detailed line items, tax calculations, payment terms, and counterparty information. When we access your CFDI history, we have invoice-level granularity of your entire revenue history.
Peru, SUNAT (Superintendencia Nacional de Aduanas y de Administracion Tributaria)
Peru's tax authority has undergone significant digital modernization in recent years, particularly with the introduction of the SIRE (Sistema Integrado de Registros Electronicos) platform.
Integration method: SIRE REST API
| Feature | Detail |
|---|---|
| API type | RESTful API (modern architecture) |
| Authentication | SOL credentials (Clave SOL) + OAuth-style authorization |
| Data accessible | Electronic invoicing records, purchase/sale registers, tax declarations, taxpayer status |
| Electronic invoicing | Mandatory for designated taxpayers, gradually expanding |
| Maturity | Modern and well-documented, newer than Chile/Mexico but well-designed |
What we verify:
- Revenue via electronic comprobantes de pago (invoices, receipts, credit/debit notes)
- Purchase and sale registers (registro de compras y ventas)
- Tax declaration history (monthly PDT and annual declarations)
- Taxpayer status and compliance
The SIRE advantage: Peru's newer API infrastructure means it was built with modern design principles, REST architecture, JSON responses, proper authentication flows. While the coverage of mandatory electronic invoicing is not yet as universal as Chile or Mexico, the API itself is among the cleanest to integrate with in the region.
Colombia, DIAN (Direccion de Impuestos y Aduanas Nacionales)
Colombia's tax authority presents the most complex integration landscape, but also one of the most data-rich environments once connected.
Integration method: Direct integration with habilitacion process
| Feature | Detail |
|---|---|
| Integration approach | Direct API integration requiring formal habilitacion (authorization process) |
| Authentication | Digital certificate + formal registration as authorized integrator |
| Data accessible | Electronic invoicing, tax declarations, customs data, taxpayer status |
| Electronic invoicing | Mandatory since 2020 (phased rollout 2019-2020) |
| Maturity | Most complex integration process, but comprehensive data once connected |
What we verify:
- Revenue via factura electronica (electronic invoicing, mandatory since 2020)
- Tax declarations and payment history
- RUT (Registro Unico Tributario) status and business information
- Compliance certificates (certificado de no declarante or compliance status)
The habilitacion challenge: Unlike Chile (SDK with free tier) or Mexico (third-party aggregators), Colombia requires formal authorization to access DIAN systems as an integrator. This habilitacion process involves technical certification, security audits, and formal agreements. It is the most resource-intensive integration, but once complete, provides deep access to verified taxpayer data.
What Tax Authority Data Replaces
Here is a side-by-side comparison of what traditional verification looks like versus tax authority verification:
| Verification Element | Traditional Approach | Tax Authority Integration |
|---|---|---|
| Revenue verification | Self-reported P&L + bank statements | Government-verified invoice data |
| Revenue history | Last 2-3 years of financial statements | Complete electronic invoicing history |
| Revenue granularity | Monthly or annual totals | Invoice-level detail (customer, amount, date, items) |
| Tax compliance | Self-reported, maybe accountant letter | Real-time compliance status from authority |
| Business status | Company registration documents | Live taxpayer status (active, suspended, etc.) |
| Counterparty verification | Not typically done | Cross-referenced with buyer/seller declarations |
| Cost to operator | $10K-50K+ for audited financials | Free (operator authorizes access, we pull data) |
| Time to verify | 2-6 weeks | Minutes to hours |
| Falsification risk | Moderate to high | Extremely low (criminal penalties for false tax declarations) |
Privacy and Authorization
This is the most common concern operators raise, and rightly so. Here is exactly how authorization works:
What You Authorize
When you connect your tax authority account, you explicitly authorize us to access:
- Revenue data, invoices issued, amounts, dates
- Tax compliance status, whether you are current on obligations
- Business registration, entity type, activity codes, registration date
What We Do NOT Access
- Personal tax information unrelated to the business
- Detailed deduction strategies or tax planning
- Employee payroll data
- Banking information (we access tax authority, not banks)
- Any data beyond what is needed for revenue verification
How Authorization Works
The process varies by country but follows the same principle:
- You initiate the connection through our platform
- You authenticate with your own credentials on the tax authority's system (we never see your password)
- The tax authority confirms your authorization to share specific data
- We pull the verified data and store it securely
- You can revoke access at any time
In Chile, this uses your SII digital certificate. In Mexico, your RFC + CIEC or e.firma. In Peru, your Clave SOL. In Colombia, your RUT credentials. In every case, you authenticate directly with the government system, we never store or see your login credentials.
Why This Matters for Your Financing Rate
Tax authority integration does not just verify your revenue; it fundamentally changes your risk profile.
When an investor evaluates your infrastructure asset, they are assessing the probability that your revenue projections will materialize. The more verified data points they have, the lower the perceived risk, and the lower your financing cost.
Consider two identical operators, same asset type, same country, same capital request:
| Factor | Operator A (traditional docs) | Operator B (tax authority verified) |
|---|---|---|
| Revenue verification | Self-reported P&L | Government-verified invoices |
| Verification confidence | Medium | High |
| Risk premium applied | Higher (data uncertainty) | Lower (verified data) |
| Time to evaluate | 3-6 weeks | Days |
| Additional documentation | Audit required ($15K+) | Not needed |
Operator B gets a better rate, faster evaluation, and lower upfront costs. Not because they are a better business, but because their data is more trustworthy.
The Broader Vision: A Credit Bureau for Infrastructure
What happens when you aggregate government-verified revenue data across hundreds of infrastructure operators in Latin America?
You build what does not exist today: a credit intelligence layer for infrastructure assets.
Traditional credit bureaus (Equifax, TransUnion, etc.) focus on individual and corporate credit histories, loan repayment, credit card usage, defaults. They do not capture the nuance of infrastructure economics: revenue per machine, utilization rates, seasonal patterns, geographic performance.
By integrating with tax authorities across LATAM, we are building a dataset that captures:
- Revenue patterns by asset type, how SaaS companies in Colombia differ from solar farms in Chile
- Seasonal variations, how mining revenue in Peru fluctuates versus data center revenue in Mexico
- Growth trajectories, what revenue acceleration looks like for fleet operators versus energy companies
- Compliance patterns, which jurisdictions and asset types have the highest tax compliance rates
This dataset makes every subsequent evaluation faster and more accurate. The more operators connect, the better the model becomes.
Maturity Comparison Across Countries
Not all integrations are equal. Here is an honest assessment of where each country stands:
| Country | Authority | API Maturity | E-Invoicing Coverage | Integration Complexity | Data Richness |
|---|---|---|---|---|---|
| Chile | SII | Very High | Universal (since 2014) | Low (SDK + free tier) | Very High |
| Mexico | SAT | High | Universal (CFDI since 2014) | Low-Medium (via aggregators) | Very High |
| Peru | SUNAT | Medium-High | Expanding (mandatory for large taxpayers) | Medium (REST API) | High |
| Colombia | DIAN | Medium | Universal (since 2020) | High (habilitacion required) | High |
Chile and Mexico are the easiest markets to launch with, Peru follows closely, and Colombia requires the most upfront investment but provides comprehensive data once connected.
What Operators Are Asking
"What if my business has informal revenue?" Tax authority integration verifies formal, declared revenue only. If a significant portion of your revenue is informal (not invoiced), it will not appear in the verified data. This is by design; investors need to evaluate the revenue that is legally documentable and enforceable.
"Will connecting expose tax issues?" We access your revenue and compliance status. If you have outstanding tax obligations, that information is already known to the tax authority. Connecting with us does not create new visibility for regulators; it simply allows us to verify what is already on record.
"What about privacy regulations?" Every connection is governed by the data protection regulations of the respective country (Chile's Ley 19.628, Mexico's LFPDPPP, Peru's Ley 29733, Colombia's Ley 1581). You explicitly authorize data sharing, and we process data only for the stated purpose of revenue verification.
"Can I connect multiple countries?" Yes. If your operations span multiple LATAM jurisdictions, you can connect tax authorities in each country where you have tax obligations. This provides a consolidated view of your total verified revenue across the region.
The Bottom Line
Self-reported financials are a necessary evil that exists because, historically, there was no better alternative. Now there is.
Tax authority integration replaces trust with verification, assumptions with data, and weeks of manual review with automated, real-time validation. It benefits operators (faster evaluation, better rates) and investors (lower risk, higher confidence) simultaneously.
The operator who connects their tax authority is not just sharing data, they are signaling that their revenue can withstand scrutiny. In a market where information asymmetry drives up the cost of capital, that signal is worth real basis points on your financing rate.
Ready to see what your verified financials can do for your financing rate? Simulate your rate in 2 minutes, no account required, results instantly.
