At the beginning of July 2019 the Brazilian president, Jair Bolsonaro announced on Twitter, that the Ministry of Economy will analyze the possibility of reducing taxes from 16% to 4% on imported information technologies, such as computers and cell phones. For these sudden changes in the Brazilian tax system, you need adequate support. LatamReady is… Continue Reading
Do you know the territorial division of Brazil, like the USA, is composed of states? Each state has specific laws that differentiate one from the other. Brazil is well known as the most complicated country in the world to be localized for big corporations within Latin America. To address this problem you need the right… Continue Reading
When NetSuite users contact us to solve their problems regarding Latin American tax regulations, we offer them THE complete solution for tax compliance using our ULTIMATE tool – the LatamReady SuiteApp-for their big projects located in Argentina, Mexico, Colombia, Brazil and many more countries in the region. Why is LatamReady the one in charge?Let’s be… Continue Reading
Many American companies believe that tax compliance is handled the same way as in the US. However, Latin American countries have specific requirements when it comes to tax compliance and e-invoicing. The way E-invoices work in the states… Our customers based over there issue invoices through a PDF. That PDF file is the invoice and… Continue Reading
When opening subsidiaries in Latin America, you need to be aware of specific aspects of tax compliance that can be challenging sometimes. You probably heard of ‘Global Chart of Accounts’, multi-booking or even legal ledgers and you have no clue about how to deal with them and make your subsidiaries successful in the long run?… Continue Reading
Common problems faced by multi-latin companies when implementing an ERP. Many of our customers have followed the same ( wrong) formula before being introduce to the LatamReady SuiteApp. Here’s an exampleOur last customer started using ‘QuickBooks’ ( a small and medium-size business accounting software) they realized it wasn’t enough for their growing needs. Also, they… Continue Reading
Taxation in the United States might be complex, but because you were raised with it, the thousands of jurisdictions and special taxes seem to make (at least a sort of) sense. However, once your company starts expanding to Latin America, the level of tax complexity will increase significantly and how to scale operations to keep… Continue Reading
Chart of accounts is something we hear a lot about, and it usually depends on different opinions from different clients depending on their size, and where they come from. But, what is charts of accounts? It’s an accounting concept. If you have an accounting ERP, you need to use accounts , these are codes and… Continue Reading
Tax advice is a big one when we talk about international organizations. If a foreign company ventures out to Brazil for example, they will have lots of questions. What usually happens is, they hire an accountant and they say A, they hire another accountant and they say B, and that’s the classic in Latin America,… Continue Reading
The example we always use is for explaining Latin American situation is, if you want to understand tax compliance in Latin America, then you can’t take a picture, because that picture is not going to be valid next day or next month. If you work on a list of tax compliance requirements for the countries… Continue Reading
