What comes to your mind when you hear the name Brazil? Think fast!
Perhaps the beautiful beaches of Rio de Janeiro, the Amazon jungle or the country’s historic success in the World Cup?
If you lead an international company with operations in Brazil, you probably think of something else first: taxes! That is because Brazil is also known for having the most complex tax system in the world.
Why are taxes in Brazil so complicated? And how can international companies with Brazilian subsidiaries overcome tax-related challenges? Let’s take a look.
What’s Different About Brazil Taxes?
When expanding your business to Brazil, you will quickly encounter new back-office requirements that can cause major headaches when it comes to achieving tax compliance.
For example, the Brazilian government mandates that companies submit online information about sales through electronic invoicing and electronic monthly legal ledgers. However, sales and withholding taxes are calculated in very different ways for service companies and businesses that sell actual goods. To add further to the complexity, tax laws can vary widely between states and even the many cities spread across the sprawling country.
How Netsuite Can Help
The complex and constantly-changing regulatory landscape in Brazil is very different compared to what many US-based and other international companies typically encounter in their home countries.
That is why many of the world’s largest global corporations looking to expand into Brazil partner with LatamReady, the leading authority in Netsuite localizations for Latin America.
Conceived by the company’s pioneering CEO, Carlos Z., the LatamReady Suiteapp is a Built for Netsuite solution that takes complex tax challenges in Brazil and transforms them into simple automated processes.
From E-invoicing to electronic legal ledgers, the experts at LatamReady work tirelessly every day to provide efficient solutions that will benefit your business.
LatamReady SuiteApp: Can My Company Benefit?
If you lead an international company that operates in Brazil or are considering expanding into South America’s largest economy, the LatamReady SuiteApp is the innovative tool you need to achieve tax compliance.
The LatamReady SuiteApp is the ULTIMATE tax compliance solution for 18+ Latin American countries, including the most complex tax environment in the world: Brazil.
Visit http://www.latamready.com or feel free to call us at +1-786-600-2641 to get started.
Common Misconceptions About Brazil Taxes | Can You Guess What They Are?
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