Got Tax Compliance Problems in Latin America? We’ve Got Solutions

Are your subsidiaries in Latin America struggling to achieve full tax compliance? Unfortunately, we are not surprised. Tax regulations in Latin America are notoriously complex and subject to frequent change. 

The good news? We’ve got the ultimate solution for you: the LatamReady SuiteApp

Keep reading to learn how our innovative tax compliance solution within NetSuite overcomes some of the most common tax hurdles in the region. 

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Complex Sales and Withholding Tax Rules

Latin America is known around the globe as having some of the most complicated sales and withholding tax regulations in the world. 

Take Brazil, for example, where withholding taxes are calculated differently depending on whether a transaction involves goods or services and where each state — or even city — applies its own specific tax rules. 

Fortunately, the LatamReady SuiteApp can easily navigate this complicated web of regulations through a blended solution that combines:

  • NetSuite localization tools
  • LatamTax, LatamReady’s tax engine developed inside of NetSuite and designed exclusively for Latin America
  • Systax, a leading solution for tax calculation in Brazil that specializes in inventory taxes 

We have developed similar sales and withholding tax solutions within NetSuite for countries across Latin America. 

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Learn more about withholding taxes in Brazil: https://youtu.be/DxX7ZhE0pXg

Mandatory Electronic Invoices

Electronic invoicing is largely mandatory across Latin America. In addition to serving as a form of electronic billing, E-invoices may also serve as credit memos, waybills and much more! 

Before sending an E-invoice to a customer, multi-Latin corporations must first submit them to the country’s tax agency for review. Only after the tax agency has placed a digital stamp of approval does the E-invoice have legal value. 

The LatamReady SuiteApp generates accurately-formatted E-invoices — both the required XML file and PDF graphic representation — from inside of NetSuite with just the click of a button! 

Monthly Legal Ledgers 

Many Latin American countries require corporations or their local subsidiaries to close their books on a monthly basis and send results to the appropriate tax agency. These legal ledgers must follow the exact country-specific format in order to be accepted and approved. 

The innovative LatamReady SuiteApp can generate pixel-perfect legal ledgers inside of NetSuite that follow the correct format and include all required fields. Multi-Latin corporations using the LatamReady SuiteApp never have to worry about whether their monthly legal ledgers will be accepted by tax authorities in Latin America.  

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Carlos Zumaeta, LatamReady Founder & CEO

Is LatamReady Right for My Business? 

If you are a leading global corporation with plans to open or expand operations in Latin America in 2020, the LatamReady SuiteApp is the innovative solution you need to achieve 100% tax compliance.  

The LatamReady SuiteApp is the only native Built-for-NetSuite SuiteApp that supports legal ledgers, complex sales and withholding tax calculations, E-invoicing and more in 18+ Latin American countries.

Position your multi-Latin corporation for success in Latin America by visiting www.LatamReady.com or calling one of our sales reps at +1-786-600-2641. 

Unlock Latin America with NetSuite | Brazil Localization

Never Stop Learning 

LatamDojo | NetSuite Courses in English, Spanish and Portuguese!

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