The tax reform in China that replaces Business Tax with Value Added Tax (B2V) for the service industry continues to build momentum. A pilot program to apply Value Added Tax (VAT) to designated service sectors began on January 1, 2012 and has been expanding its scope ever since. As mentioned in a previous article, “China’s VAT Reform“, […]
I wanted to give a quick update on the Manifestação do Destinatário business process in Brazil as there have been a lot of questions lately on the topic. For many companies, this is now becoming mandatory. As one example, the legislation has been defined by the the states – both Rio Grande del Sul and […]
If you missed our Webinar on Indirect taxes in Brazil, you can view the recorded webinar at http://lnkd.in/dNyEmWi. When traveling internationally, it is imperative to research your destination prior to departure. The same is true for those planning to conduct business internationally. Are you aware of the complex sales and use tax implications of doing […]
Electronic invoicing in Latin America is not just about operational issues, it is about risk and financial exposure. Recently, Citigroup, Inc. announced that fraudulent invoices in their Mexico operation forced the company to adjust their 2013 profits by $235 million dollars.
When I mention Nota Fiscal, companies are often looking at the Account Receivable side of the operations due to the impact on Shipping and customer payments. However, there are many advantages that should and can be obtained in the Procure to Pay process. Often organizations explain to our teams that inbound validation is still manual. […]
In Mexico, many organizations implemented non-integrated solutions provided by local signature providers. Now after the first 3 months, the problems we were alluding to are starting to show up. In my previous blog, I wrote about the complexity of Addenda which continue to take on new forms of complexity. Today, I want to go back […]
Over 500,000 organizations rushed to get solutions in place by the January 1, 2014 electronic invoicing deadlines in Mexico. Now after the first 3 months, the problems we were expecting companies to experience who chose the lowest cost local solutions are starting to show up. (FYI – Our customers are doing great.) For this blog, […]
The Chile SII officially published the electronic invoicing mandate in the Official Gazette, mandatory use of the Electronic Tax Document (DTE). The rollout will take place over 3 years and will be based on revenue tiers.
Eventhough the latest NFe 3.1 deadline is approaching, there are still a lot of companies that don’t fully understand the required upgrades in Brazil. So in short, here is a quick overview of 3.10 requirements as well as what we are seeing from project length and staffing.
Today I was speaking with a Fortune 100 company who was looking at their Inbound Validation processes and trying to decide whether automation would be required. My answer was a resounding yes, but more often than not – I see multinationals doing the inbound validation of supplier and business partner XML through manual processes. I […]
I get a lot of questions on the differences between Latin America electronic invoicing in comparison to other regions of the world. And one of the confusing points for many people is the concept of “Contingency” – the question that comes up from many is – if I am forced to go electronic, why is […]
Value Added Tax (VAT) is the most prevalent type of consumption tax in the world. The tax is assessed on the sales or purchase price of merchandise or services. Most countries in the world have adopted VAT and apply VAT to both goods and services. In fact, some countries use the name goods and services […]
In a recent article, I discussed the concept of eSocial in Brazil – a new real-time integration requirement that will be focused on payroll taxes among other human resource issues. Well, Mexico actually has beaten Brazil to the market with the requirement of Electronic Payroll Receipts as of January 1, 2014. In Brazil, eSocial will […]
Legal requirements for invoicing are constantly changing in Argentina. While they are mandatory for some industries, others are still receiving future timelines from the Argentinean tax authority Administración Federal de Ingresos Públicos (AFIP). Today organizations need to consider solutions for Type E export invoices, as well as the regulations for domestic (Type A and Type […]