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Dead people in Ohio get a tax break because applying makeup in a mortuary is tax-free, while applying makeup in a beauty salon is subject to sales tax. In Kentucky, stud fees for breeding a stallion to a mare is subject to sales tax. Taxes collected are distributed into three funds administered by the […]
Top 5 Reasons Why Companies are Using Brazil version 3.1 to Transition off of on-premise solutions on to Hybrid Cloud and Managed Service Solutions
With the recent publication of Council Implementation Regulation No 1042/2013 in the Official Journal of the European Union, we are reminded that the 2015 place of supply change for electronically supplied services is rapidly approaching. This leads us to ask many pressing questions. How will the supply of electronically supplied services be sourced, come January […]
Finding the best way to manage unclaimed property risk is very challenging, especially if you are filing for the first time and not under state audit. If you find your company is in an initial compliance situation you need to immediately initiate an outreach program and make every effort to contact the owners of the […]
Companies are using Brazil Nota Fiscal to transition off on-premise solutions including GRC NFe, Mastersaf and Synchro to Managed Service Solutions SAP Brazil Nota Fiscal version 3.1 – (Part 1 of 6) OnPremise SAP GRC NFe or a SAP ERP Managed Service Brazil came out with their latest changes in July 2013 – version 3.1 […]
In our continued conversations with multinationals around the new version of the Nota Fiscal process and schema, we continue to find that many companies don’t fully understand the breadth of the legislation. We hope the following checklist should help all managers of global SAP applications and support prepare for 2014. Many companies are even unaware […]
For 2014, Latin America has announced new tax and electronic invoicing policies which will divert IT funding and staff away from strategic initiatives while exposing multinationals to potential operational shut downs and severe financial penalties. If you are running a single SAP global instance or you are implementing SAP ERP in Brazil, Mexico, Chile or […]
I was on the phone with two Fortune 500 companies yesterday to discuss Latin America electronic invoicing. The conversations were similar to many I’ve had over the last few months, they had taken no steps toward implementing Mexico CFDI invoicing either on the outbound side nor on the inbound supplier side and were now in […]
Remember, that the validation of all inbound supplier Nota Fiscals is mandatory. Many companies are still accomplishing this manually. One company had over 15 individuals manually entering supplier invoices into the government portal. Another company had over 20. Yet another company realized they had not audited and archived almost 1 million nota fiscals from their […]
The deadline of January 1, 2014 is less than 3 months away, yet many multinationals have not yet finalized their upgrade to CFDI v3.2. Below are the top 5 questions you need to ask your providers and local teams if you want to meet the deadlines. Many providers will not be able to help companies […]
There is a distinct change in the mindset of multinationals happening. The trend is becoming a reality now, and management – specifically the SAP teams – are realizing the true cost of operating electronic invoicing in Latin America. This is especially true as over 500,000 organizations look to install the new CFDI mandates for electronic […]
Many people who are tasked with filing unclaimed property don’t have an idea where to start. The process itself isn’t so bad, but there are some things you have to understand before you can file. One of those things is which Relationship Code values to use for each property. Did you know that if you […]
As we continue to explore transparency and risks in Latin America, I wanted to continue on the topic of the Foreign Corrupt Practices Act and how it is related to the electronic invoicing issues we discuss all the time in Latin America. The audit exposure is not solely a local issue, the FCPA accounting legislation […]
I read an interesting article the other day, and wanted to discuss the importance of electronic invoicing in Latin America when considering the Foreign Corrupt Practices Act. I think all too often we get focused on the technology and forget the business implications that these e-invoicing mandates can have on our global operations. Here is […]