Multi-Latin companies face many challenges when they are working in the LatAm region, but no worries LatamReady has considered all of them and has built the PERFECT tool to solve them all, the LatamReady SuiteApp which has been made for NetSuite users and it’s available for more than 14 countries in Latin America including Brazil, Mexico, Colombia, Argentina and many more. Let’s focus on the biggest challenge that is involved in : THE CHALLENGE OF CONSTANT CHANGES
THE challenge LatamReady has already solved
A perpetual challenge for the companies that are working in Latin America are the several changes that appear in the tax regulation field. LatAm differs from USA and Europe because they don’t follow a unique structure as a whole group, each country has the power to change the local requirements whenever they think it’s needed. As a consequence, each company has the obligation to find out by themselves the rules they have to follow in order to comply with the legal terms of the country they are working in. Furthermore, there is a key factor involved in… time! It represents a big factor as there is not a specific time of the year for the government to take the decision, the changes in the tax system appear when you don’t expect them.
Learning from experience
LatamReady receives Multi-Latin companies that are looking for a tax compliance solution here in Latin America, this was the case for a customer we had that were worried about the complex tax system and therefore had started to work on a regulation list for three months. This company went through different LatAm countries, working on fitting in the local requirements. When they started collaborating with us, the information that they collected was out-of-date, the legal terms in many of those countries had already changed and a new analysis was needed. Also, another problem was that they had just collected the monthly requirements needed but in Latin America annual requirements are also required. Luckily, they were in the right place to solve these problems, LatamReady had all the updated information needed.
The risk LatamReady is willing to assume.
As experts of Latin Ameican tax compliance, we are required to have specific information about the company we are working with. It can represent a big risk because we need to ensure that the multi-latin company is giving us all the details we need in order to give them the right solution. LatamReady has the experience of working with big companies with subsidiaries in Latin America and has the knowledge to support them in the most efficient way.
Want to overcome the challenge? Go too www.latamzone.info
Check out the complete webinar on https://tinyurl.com/y9r9oj45