One common pitfall: Thinking that Latin American processes can be easily moved into a financial shared service managed exclusively in the US. We can see those big American corporations or just international corporations, in general, are working with shared services. These shared services could be a company or a business unit that is centralizing all… Continue Reading
Hey, did you know that the Latin American region counts for more than 14 countries, with different currencies for each one of them? When it comes to owning subsidiaries in Latin America, remember that currencies are another big challenge, especially in accounting and tax reporting. Most of the time, when not paying enough attention to… Continue Reading
In case you didn’t understand, your ERP or whatever accounting software you are using is NOT a financial system of record. When you’re expanding overseas, especially in Latin America, your objective will be to simplify your tax reporting process, not make it more difficult, so to you, international business owners reading this article, here’s what… Continue Reading
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
With the digitalization and therefore the acceleration of the flow of information all around the world, businesses are working faster, reports need to be done quicker, meaning that tax and accounting files can’t be spared in those changes. Well, unless you are a small business owning 5 employees in the middle of Utah, every big… Continue Reading
Well, you think you know everything about taxes? You’re wrong then! At LatamReady, when we talk about taxes, we always refer to sales taxes. Indeed, within the LatAm region, the biggest tax challenge has been and is still withholding taxes. Since you come from North America, Europe or Asia, the concept of withholding taxes doesn’t… 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
Well, you are part of a big international corporation, you are struggling with electronic invoicing within NetSuite for your Latin American subsidiaries. However, do you even know what electronic invoicing means? No worries! LatamReady is going to explain everything to you. Please help yourself with a snack and a cup of tea, sit down, relax… Continue Reading
As today’s topic : the benefit of using NetSuite in order to build CRM within the Latin American space. At OneSystem, we do use NetSuite, especially in our sales department, as it allows us to have control on how many phone calls we are performing every single day, or how many new customers or leads… Continue Reading
