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As governments and regulators around the world are embarking on their digital transformation, organizations need to ensure they keep their indirect tax transformation one step ahead. In this series of articles from leading journalists, learn how digital tax is evolving globally and what the changes mean for your business.
In 2008, Brazil adopted a clearance electronic invoicing model in which the country’s tax authority must receive and clear an invoice before a supplier can issue it to a payer. More than a decade later, the Brazilian tax administration’s digitization has evolved so much that other tax administrations call Brazil the Google of fiscal goods. Current regulations include electronic invoices for: supplies of goods (NF-e), services (NFS-e), transport services (CT-e), freight (MDF-e), SPED, REINF and, more recently, for the supply of electricity (NF3e). This document provides an overview of the mandates and regulations in Brazil.
Mexico is a pioneer in electronic invoicing and VAT enforcement, having begun its digitization journey in 2010. Today, Mexico has
one of the most technologically advanced tax administrations in the world. Companies unaware of or unprepared for Mexican
e-invoicing mandates could face significant fines and penalties, along with supply-chain disruptions and cash-flow issues. This
document provides an overview of mandates and regulations in Mexico.
Failure to comply with business-to-government regulations in Latin America can impact critical business functions, not only resulting in millions of dollars in fines and penalties, but also shipping delays and operational shut-downs. In the most complex regulatory environments, such as Brazil, these mandates even affect sales, procurement and HR functions. Though the end goal of […]
Vendor Assessment IDC MarketScape highlights: IDC MarketScape Worldwide SaaS and Cloud-Enabled Sales Tax and VAT Automation Applications 2019 Vendor Assessment named Sovos a leader for our global presence and coverage, strong cloud platform, and e-invoicing compliance solution. Read the brief now. “Sovos offers these organizations tremendous value by providing coverage for every form of transaction-level […]
Why Shared Services in Latin America is Fundamentally Different from the Rest of the World As companies around the world look for ways to make shared services even more efficient, they should look toward Latin America, where government regulations are necessitating that companies set the bar for innovations. As a result, shared service departments in […]
This paper outlines in detail the global trend towards real-time tax ‘clearance’ of invoices and how this impacts businesses in their day-to-day operations and business-to-business transaction automation strategies. Since the last edition, the trend towards compulsory transaction-oriented integration of e-business systems with public authorities has continued to accelerate. The growing consensus among e-invoicing and VAT […]