Erbium(III) triflate is a powerfulcatalyst for the acylation of alcohols and phenols. The reaction works well for a large variety of simple and functionalized substrates by using different kinds of acidicanhydrides Ac2O, (EtCO)2O, [(CH3)3CO]2O, Bz2O, and (CF3CO)2O} without isomerisation of chiral centres. Moreover, the catalyst can be easily recycled and reused without significant loss of activity