Today, we are going to talk about books! No, not your favorite novel or the latest award-winning nonfiction. Instead, we are going to discuss monthly legal ledgers and how businesses close their books in Brazil.
Many international corporations with Latin American subsidiaries often find it challenging to follow the complex tax reporting regulations in Brazil, a country recognized around the globe as having one of the most complicated tax systems in the world.
Do you want to know the best way to close your businesses’ books in Brazil? Find out below.
Legal Ledgers in Brazil
Corporations or their subsidiaries operating in Brazil are legally required to close their books on a monthly basis and send results to the Brazilian tax agency.
These legal ledgers must follow a pixel-perfect and sometimes complex format in order to be accepted and approved. Businesses that struggle to consistently submit their books on a monthly basis and in the correct format may risk their tax compliant status.
Important to know is tax regulations in Brazil have a habit of changing — all the time! Keeping up with the latest requirements for legal ledgers and other tax-related laws can be extremely challenging for even the most organized and resourceful corporations.
How LatamReady Solves the Problem
The innovative LatamReady SuiteApp can generate specific legal ledgers for Brazil produced from and inside of NetSuite, the #1 cloud enterprise resource planning (ERP) system in the world.
Brazil legal ledgers produced by the LatamReady SuiteApp follow the necessary format and include all required fields. Moreover, changes to any legal ledger reports requested by the Brazilian government are included in a LatamReady SuiteApp subscription.
Is LatamReady Right for My Business?
If you are a leading global corporation with plans to open or expand operations in Brazil or elsewhere in Latin America, the LatamReady SuiteApp is the solution you need to manage closing your books every month and achieving 100% tax compliance.
Our ultimate tax compliance solution extends the power of Oracle NetSuite to ensure local tax reporting by your subsidiaries in Latin America adheres to all country-specific rules and regulations.
The LatamReady SuiteApp is the only native Built-for-NetSuite SuiteApp that supports legal ledgers, withholding taxes, E-invoicing and more in 18+ Latin American countries, including Brazil.
Give your business the advantage it deserves by partnering with the expert team at LatamReady. Visit www.LatamReady.com or call one of our sales reps at +1-786-600-2641 to get started.
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