The LatamReady App -built for Oracle NetSuite ERP- extends the power of Oracle NetSuite Cloud ERP to enable international corporations to achieve full tax compliance in Argentina and Latin America.
NetSuite Localization Argentina
Navigating the complex landscape of withholding taxes, electronic invoicing, and other tax requirements is a significant challenge for multinational companies operating in Latin American countries. The LatamReady App, a Built-for-NetSuite solution, simplifies these challenges with an all-in-one tax compliance solution for over 18 countries, including Argentina Localization.
The LatamReady Localization App supports Legacy and is compatible with the SuiteTax version of NetSuite and the Oracle Localization SuiteApp.
Tax Determination & Tax Information Reporting
Designed to comply with the frequently changing tax regulations, the LatamReady App features Tax Determination and Tax Information Reporting Features for Argentina. It provides comprehensive support for monthly and annual tax reporting forms. This service allows businesses to meet all local tax reporting requirements with ease and precision.
To enhance the user experience and manage tax reports, LatamReady also includes a robust set of Reports/Audit Reports/Searches/Alerts. These non-legal reports facilitate the review and validation of legal reporting information before it’s sent/uploaded to local tax authorities. This feature significantly reduces the risk of inaccuracies and ensures compliance with local tax requirements.
Further, the app introduces a significant improvement in tax management with automatic configuration for non-electronic documents. This vast billing feature significantly simplifies the accounting processes for businesses.
Tax Rules & Tax Calculation
Automated Updates of Withholding Tax Rates within NetSuite.
LatamReady, an essential tool for NetSuite users, provides an automatic link to the local Tax Agency, enabling real-time adjustment of Perception and Withholding Tax Rates each month (ARBA) via web service connection. This feature greatly simplifies the task of managing tax reports.
Formats of Withholding Tax Certificates
LatamTax, integrated within the NetSuite program, aligns with the necessary standards for Withholding Tax Certificates, which are mandatory for suppliers at every payment stage. This alignment ensures the seamless creation and management of essential tax reports.
Collaboration with Tax Agencies
Our approach involves strategic integration with the tax agencies in all the countries we service. For NetSuite users in Argentina, we have a robust relationship with AFIP, ensuring we are always up-to-date with the country’s fiscal requirements.
Comprehensive Tax Calculation
LatamTax and LatamReady’s Tax Engine, designed within the NetSuite program, are specifically tailored to manage the intricacies of local Withholding Taxes in Sales and Purchases in Latin America. These tools allow businesses to meet their fiscal requirements effectively.
Not only do we calculate customer perceptions, but we also recognize minimum and maximum payment thresholds, along with the acknowledgment of the cumulative sum. These calculations play a vital role in creating accurate tax reports.
Accurate Local Tax ID Verification
LatamReady provides a solution to the common issue of incorrectly registered local Tax IDs amongst NetSuite users. It incorporates the necessary local validation algorithm to ensure accuracy in Tax ID registration, thereby minimizing potential errors in tax reports.
Other features of LatamReady App (Latin America)
Lastly, LatamReady supports electronic invoicing (electronic invoices. XML file), electronic payments, legal books and massive bill payments. These features offer a seamless, paperless, and efficient way to manage finances in Latin American countries. This holistic approach to tax compliance makes the LatamReady App an indispensable tool for multinational companies operating in the region, ensuring they navigate the complexities of Latin American tax requirements with ease.
Why LatamReady?
We are the #1 Oracle NetSuite partner in Latin America for implementation and localizations. Through the best ERP worldwide, will help you adapt to changes and grow your business.
Why should you choose us? Find out here. You can contact us clicking here.
Schedule your call here