Every New Year’s Eve, millions of Brazilians and visitors in Rio de Janeiro follow the Brazilian tradition to bring good luck, happiness and prosperity by jumping over seven waves while making seven wishes.
For international corporations using NetSuite and operating subsidiaries in Brazil, a little more than luck is needed in order to achieve success in 2020. That is why more and more multi-Latin corporations are partnering with LatamReady.
Keep reading to learn why the LatamReady SuiteApp is the tax compliance solution your international corporation needs for its operations in Brazil in 2020.
Complex Withholding Taxes
Accurately calculating withholding taxes is a common challenge for international corporations doing business in Brazil. That is because withholding taxes are calculated differently for services companies and businesses that sell actual goods. In addition, different Brazilian states and even different cities each apply their own set of tax regulations.
The LatamReady SuiteApp cuts through the confusion by accurately calculating withholding tax rate combinations and issuing withholding tax certificates in the specific format required by Brazilian law.
Mandatory E-Invoicing in Brazil
Each invoice, credit note or debit note in Brazil must be digitally approved by the country’s tax authorities before it has any legal value. This means that companies must issue electronic documents (an XML file and a PDF file) and have these documents approved online by the Brazilian tax authority.
With the LatamReady SuiteApp, your multi-Latin corporation can issue E-invoices from inside of NetSuite and generate the pixel-perfect electronic documents needed with a simple click of a button!
Monthly Legal Ledgers
Corporations or their subsidiaries operating in Brazil are legally required to submit monthly legal ledgers to the Brazilian tax agency. These monthly reports must follow a specific and sometimes complex format in order to be accepted and approved.
The innovative LatamReady SuiteApp can generate legal ledgers for Brazil from within NetSuite that adhere to the proper legal format and include all required fields.
How to Get in Touch With Us
Are you prepared to achieve full tax compliance in Latin America in 2020? Get the only certified Built-for-NetSuite SuiteApp that offers tax compliance solutions for 18+ Latin American countries. You can start by getting in touch with us at www.LatamReady.com or calling one of our sales reps at +1-786-600-2641.
What You Probably Didn’t Know About Tax Compliance in Brazil