Hybrid Cloud Solutions Provide Real-Time Day-to-Day Support In the third part of our series examining how the transition to Brazil Nota Fiscal Version 3.1 can be simplified using a hybrid cloud compliance model, let’s review how managed services offer economies of scale to reduce annual support costs. On-premise solutions force you to monitor, design and […]
Shipping Issues and Audit Risks now back to 2009 are key areas of potential business impact Companies over the last 6 months have been working diligently on upgrading Brazil Nota Fiscal environments to version 3.1. And while the IT projects is almost over, the business impact has yet to begin. Are you at risk of not […]
The Hybrid Cloud Compliance Model Eliminates Failure Points and the Need for Constant Monitors As we continue to examine the benefits of leveraging a hybrid cloud model for Latin American e-invoicing compliance in preparation for the transition to Nota Fiscal (NFe) Version 3.1, let’s take a look at the traditional failure points that can be […]
The IRS’ Criminal Investigation (CI) Division and Her Majesty’s Revenue & Customs (HMRC) from the U.K. recently collaborated on a symposium held over three days in the District of Columbia. The event focused on international financial crimes and cross-border tax evasion, indicating governments are putting a lot of effort into preventing these crimes. Both IRS CI […]
The March deadline to transition to version 3.1 of Brazil’s Nota Fiscal process is quickly approaching. As the largest change to NFe since the 2010 introduction of 2.0, the new mandates pose a significant challenge to companies operating in Brazil. There is no room for error in the transition – support for 2.0 will be […]
Corruption is not an issue that’s confined to any one country or part of the world. It takes place virtually everywhere and authorities are cracking down on the practice by penalizing companies and lawmakers who run afoul. Recent electronic invoicing legislation and eAccounting reporting will bring further transparency to fraud as the legislation takes full effect […]
Don’t forget Brazil – the leader in compliance regulations. It is important to remember that Brazil has just as many mandates coming down the pipe this year. As you evaluate your solutions approach to this mission critical economy, make sure you are addressing the inbound Nota Fiscal process known as Manifestação do Destinatário, especially if […]
The Mexico eAccounting mandates are set to take effect on March 3rd, 2015 and there is still no end to end solution from SAP. Actually, there are some very glaring gaps to take into consideration. You still have time to address these issues with end to end solution providers. Continuing to wait puts you at […]
It’s that time of year again where business owners look back on the past 12 months, take an assessment of where they are and what they should prepare for the 12 months that are yet to come. While 2014 had a lot to do with compliance, given the heightened regulatory climate, that theme will continue […]
Risk management is a key component of a business’s structure. Compliance is one of the ways in which companies deal with these risks, which can come from a variety of sources. Some of these mechanisms are required for businesses to engage in commerce over state lines or overseas, but there are also internal compliance schemes […]
International law officials are cracking down on corporations and firms that break the rules by bribing legislators and governmental leaders. The latest example comes out of Texas, where a well-known aircraft maintenance company confessed to having participated in a backroom deal that aimed to skirt the Foreign Corrupt Practices Act. Dallas Airmotive, Inc, which specializes […]
The Foreign Corrupt Practices Act is the law of the land. In order for multinational companies to engage in business, they have to be sure that the regulation is adhered to. Though companies that run afoul of the FCPA typically aren’t household names, that certainly wasn’t the case for Hewlett-Packard, the Palo Alto, California-based information […]
Supply chain finance is a system of business operation that, to use a common term, knocks out three birds with one stone. In other words, it benefits the buyer, seller and financing institution involved in a deal, enhancing overall efficiency so everyone walks away from a deal happy. In fact, as financial information website Investopedia describes […]
The Mexico SAT has doubled down on their eAccounting requirements with a focus on corporations. While 2014 data is no longer required, the core requirements are now more detailed. So while the go-live date has transitioned from January 25 to March 3rd, this doesn’t mean you should delay your implementation.
For those who are new to the Latin America reporting requirements, I think it is important to understand that the issue goes beyond SAP application updates. More importantly, it is critical to understand that no ERP vendor can provide a reporting solution for every single one of their customers. This is not just an SAP […]
Under the present place of supply rules, companies in the European Union (EU) selling electronically supplied services to non-business consumers (B2C) in another EU country must collect the Value Added Tax (VAT) of the country where the supplier is established. However, the “present rules” will only be the “present rules” for a few more weeks. […]