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Oracle NetSuite Tax Compliance for Brazil


The LatamReady App extends the power of Oracle NetSuite Cloud ERP to enable international corporations to achieve full tax compliance in Latin America.

An innovative Built-for-NetSuite solution, the LatamReady App natively supports Tax & Accounting Compliance, Tax Reporting, Electronic Invoicing, and many more amazing features for 18+ Latin American countries, including Brazil!


About LatamReady




Tax Determination & Tax Information Reporting Features for Brazil

The LatamReady App is always up to date with all monthly and annual tax reporting forms, making it easy for companies to comply with local tax reporting requirements in Brazil.

Plus! A set of Reports/Audit Reports/Searches/Alerts developed by LatamReady.

The LatamReady App includes a set of non-legal reports that our local users can utilize to review and validate legal reporting information as a previous task before sending/uploading the information to the local tax authority.

The LatamReady App fully supports NetSuite's multi-booking feature and includes the following ledgers for legal reporting in Brazil:
​

  1. 1.EFD Contribuições (TXT format)
    1. a.PIS COFINS Apropriação Direta -> "No Cumulativa" (Services)
    2. b.PIS COFINS Rateio Receita Bruta "No Cumulativa" (Services)
    3. c.PIS COFINS including Withholding Taxes "No Cumulativa" & "Cumulativa" (Services)
    4. d.PIS COFINS not including Withholiding Taxes "No Cumulativa" & "Cumulativa" (Services)
    5. e.PIS COFINS with Exempt Invoices "Cumulativo"
    6. f.PIS COFINS with Exempt Invoices "No Cumulativo"
    7. g.PIS COFINS Apropriação Direta -> "No Cumulativa" (Inventory Items) (2020.1)
    8. h.PIS COFINS Rateio Receita Bruta "No Cumulativa" (Inventory Items) (2020.1)
    9. i.PIS COFINS including Withholding Taxes "No Cumulativa" & "Cumulativa" (Inventory Items) (2020.1)
    10. j.PIS COFINS not including Withholiding Taxes "No Cumulativa" & "Cumulativa" (Inventory Items) (2020.1)
    11. k.Block A Exempt
    12. l.Including the lines: 0110, A100, C100, C500, D010 F100, F500, F550, F600, M100/M500, 1100/1500
  2. 2.EFD Fiscal
    1. a.ICMS / IPI "Cumulativo"
    2. b.ICMS / IPI "No Cumulativo"
    3. c.Shipping for Purchases
    4. d.Shipping for Sales
    5. e.Return of Purchasing Danfe
    6. f.Voucher Report for D100
  3. 3.DCTF - Declaração de Débitos e Créditos Tributários Federais
    1. a."No Cumulativa"(Services)
    2. b."Cumulativa" (Services)
    3. c."No Cumulativa" (Inventory Items)
    4. d.DCTF Audit
    5. e.DCTF Web (2020.2)
    6. f.CIDE Calculation (With IOF)
    7. g.Opening of the validation of the Revenue Journal - Invoice
  4. 4.SPED Reinf Including the R1000, R2010, R2020, R2060 e R2090 blocks
  5. 5.SPED ECD (TXT format) (2020.1)
    1. a.G - Diário Geral
    2. b.R - Diário com Escrituração Resumida
    3. c.A - Diário Auxiliar
    4. d.Z - Razão Auxiliar
    5. e.B - Livro de Balancetes Diários e Balanços
  6. 6.SPED ECF and ECD Annual Reports (TXT format) (2020.2)
  7. 7.DIRF
  8. 8.GIA Including the CR01, CR05, CR07, CR10, CR14, CR20, CR30 blocks (Sao Paulo y Rio)
    1. a.GIA ST
    2. b.GIA SP – Guia de informações da apuração do ICMS (2020.1)
    3. c.GIA SP Filial - Guia de informações da apuração do ICMS (2020.1)
    4. d.DANFE Return
    5. e.Purchase and Sale Shipping Consideration
  9. 9.Outcomes Books
  10. 10.Incomes Books
  11. 11.ICMS Calculation Book
  12. 12.DIMOB

Tax Rules & Tax Calculation
​Features for Brazil

*For services

Products Tax Calculation (Inventory Transactions) (Add-On)

Sales Taxes in Brazil are calculated inside of NetSuite via a blended solution that combines:

  • NetSuite localization tools
  • LatamTax, LatamReady's tax engine developed inside of NetSuite and designed exclusively for Latin America
  • Systax, a leading solution for tax calculation in Brazil specializing in inventory taxes

From a user perspective, everything happens inside of NetSuite. LatamTax calculates local taxes and/or establishes a secure web service connection to Systax to pull the correct set of Brazilian taxes on sales transactions (Inventory Items).

Fixed Assets

Together with NetSuite's Fixed Asset Standard module, LatamReady will support the company in the following functionalities based on legal requirements in Brazil.

  • Tax Calculation
    • Types of related taxes:
      • PIS
      • COFINS
    • Legal Reports to be informed
      • EFD Contributions
        • Blocks
          • F120
  • CIAP Calculation
    • Configuration of the calculation of the monthly amount based on the requirement of the period
    • Legal Reports to be informed
      • EFD Fiscal
        • Blocks
          • 0300
          • 0305
          • G125

LatamTax + Systax pre-configured set of taxes includes:

  1. 1.PIS (Contribuição para os Programas de Integração Social / Program of Social Integration)
  2. 2.COFINS (Contribuição Social para o Financiamento da Seguridade Social / Contribution of the Finances for Social Security)
  3. 3.CSLL (Contribuição Social sobre o Lucro Líquido / Social Contribution on Net Profits)
  4. 4.ISS (Imposto sobre Serviços / Brazilian Tax on Services)
  5. 5.IRPJ (Imposto de Renda de Pessoa Jurídica)
  6. 6.FUST (Fundo de Universalização dos Serviços de Telecomunicações)
  7. 7.FUNTEL (Fundo para o Desenvolvimento Tecnológico das Telecomunicações)
  8. 8.IPI (Imposto sobre Produtos Industrializados)
  9. 9.ICMS (Imposto sobre Operações Relativas à Circulação de Mercadorias e Serviços de Transporte Interestadual e Intermunicipal e de Comunicações)
  10. 10.Substituição Tributária (Inventory Items)
  11. 11.ICMS ST (Inventory Items)
  12. 12.IOF
  13. 13.CIDE
  14. 14.DIFAL
  15. 15.Import withholdings
  16. 16.Calculation of taxes on debit notes with interest and fines
  17. 17.Mass Payments
  18. 18.Advance payments
  19. 19.Tax Substitution
  20. 20.Tax Reduction
  21. 21.Recognition of Withholding Taxes in payments/collections

Electronic Invoicing
​Features for Brazil

Send E-Invoices Directly from Inside NetSuite


LatamReady offers a complete solution within NetSuite for electronic documents in Brazil.

The LatamReady App supports:

  • One by one:  A 2-step process that follows the NetSuite standard for issuing electronic invoices. The first step is to create and the second step is to generate and send each invoice one by one manually.
  • Massive: Several In Bulks, tens of thousands of documents. (Add-On)
  • In Bulk: for 200 documents. (Add-On)
  • Ecommerce Edition: for Ecommerce companies. (Add-On)

Easily manage E-invoices, Credit & Debit memos, Waybills, and more! With the LatamReady App, international corporations can issue E-invoices from inside of NetSuite and generate pixel-perfect electronic documents with a simple click of a button. LatamReady Localization allows you to issue electronic documents both locally and abroad.

LatamReady App users can now utilize the massive billing feature with automatic configuration for NON-electronic documents.

Does your subsidiary issue hundreds or thousands of E-Documents? Ask for our advanced solutions for bulk processing E-Documents!

LatamReady's pre-configured set of E-Documents includes:

  1. 1.NFS-e: e-Invoice for Service Items (see municipalities below) including Cancelamento process.


Municipalities




Sao Paulo

Belo horizonte

Valinhos

Tres lagoas

Sao bernardo

Barueri

Fortaleza

Porto Alegre

Rio de janeiro

Osasco

Florianopolis

Santana de Parnaiba



  1. 2.NF-e: e-Invoice for Inventory Items (Nationwide) including Cancelamento process. (All these e-docs generate their own DANFE doc).
    1. a.NF-e: Sales
    2. b.NF-e: Correction
    3. c.NF-e: Shipping
    4. d.NF-e: Transfer
    5. e.NF-e: Import
    6. f.NF-e: DIFAL e FCP
    7. g.NF-e: Devolution of goods
    8. h.NF-e: Return of goods
    9. i.Nota Fiscal de Devolução: e-Invoice for Inventory Items (Nationwide) (v.2020.1)
    10. j.NF-e Complementar: e-Invoice for Inventory Items (Nationwide) to add information in original NF-e (v.2020.1)
    11. k.NF-e related to Transferência de depósito: e-Invoice for transfers between warehouses (Nationwide) (v.2020.2)
    12. l.NF-e related to Remessa ao exterior
  2. 3.CC-e Carta de Correcao Electrònica: e-invoicing for NF-e (Nationwide) (v.2020.1)
  3. 4.Shipment Cancellation
  4. 5.CT-e


*Note: LatamReady currently supports up to:

  • 15 lines per e-Document on NF-e
  • 20 lines per e-Document on NFS-e

Electronic Payment
​Features for Brazil

LatamReady Supports Massive Bill Payments

Via NetSuite's Electronic Payments App, LatamReady enables companies to make massive electronic payments that follow the specific local formats required in Brazil.

LatamReady complements E-documents with the ability to produce Boleto Bancãrio (a PDF document that Brazilian customers expect to receive for paying an invoice and collection files to be sent /received to/from the bank). Our solution has the capacity to process up to 10,000 E-documents with the required formats for the following local banks:

  1. 1.Bank of America (Brazilian branch)
  2. 2.Itaú (v.2020.2 )
  3. 3.Bradesco (v.2020.2)
  4. 4.Santander (v.2020.2)
  5. 5.Banco do Brasil
  6. 6.Banco Citibank

We support payments with tax withholdings, interest, and fines, as well as payments by transfers and “Boleto Bancário” with the control of the files of remittance and return to these local Brazilian banks:

  1. 1.Bank of America (Brazilian branch)
  2. 2.Itau (It is possible to use the PIX key)
  3. 3.Bradesco
  4. 4.Santander
  5. 5.JP Morgan
  6. 6.City Bank

LatamReady Add-Ons

Exchange Rate Module: We bring the country's buy-sell exchange rate. The basic version makes the connection with the Banco Central do Brasil and updates the daily exchange rate directly in the transactions (USD Dollars / Local Currency), while the advanced version also updates the standard NetSuite table. The affected transactions are:

        1. 1.Sales Order
        2. 2.Credit Memo
        3. 3.Customer Payment
        4. 4.Invoice
        5. 5.Journal Entry
        6. 6.Purchase Order
        7. 7.Vendor Bill
        8. 8.Vendor Credit
        9. 9.Vendor Payment

Massive electronic invoicing module: LatamReady offers a complete solution within NetSuite for electronic documents in Brazil. With the LatamReady SuiteApp, international corporations can issue E-invoices from inside of NetSuite with a simple click of a button. Sending electronic documents by batch or in batches has never been easier! (This also includes the automatic set and mailing to customers)

Automatic set: automatic Filling of the transaction fields to be processed in electronic invoicing based on the configuration in the customer file.

Sending emails to clients: the automatic sending of Emails to the clients once the electronic document is already authorized by the government.

Annual Legal Ledgers: The annual legal reports are a complete summary of the different parts of your accounting of operations for the year that need to achieve compliance with the fiscal entity of the country.

NetSuite Editions: OneWorld & Midmarket Edition / SuiteTax & Legacy


The LatamReady App is compatible with the NetSuite SuiteTax version and supports Legacy. 

The LatamReady App fully supports all NetSuite's editions in Brazil! Unlock opportunities for your growing company by extending the power of NetSuite with our innovative tax compliance solution.


Customer Care Support
​For Brazil

Always Up to Date!

Our service includes unlimited legal updates for 18+ Latin American countries.

Brazilian and Latin American tax rules are continuously changing and evolving.

LatamReady, combining local tax advisory in each country and the biggest NetSuite software factory in the region, will ensure that your subsidiary always remains compliant.

Included in your annual subscription is unlimited customer care support in 3 languages: English, Portuguese, and Spanish.

Additionally, LatamReady releases 2 official versions per year, always Built-For-NetSuite certified by Oracle.


LatamDojo E-Learning Platform

Training on Demand

LatamDojo, our E-Learning Platform, includes thousands of training videos explaining how to be and remain compliant in Latin America with Oracle NetSuite and LatamReady!





Schedule a Call with
​a NetSuite Expert!


All forward-looking statements (future LatamReady App releases) are intended to outline our general product direction. They are intended for information purposes only, and are not incorporated as part of our contracts. It is not a commitment to deliver any feature or functionality, and should not be relied upon in making purchasing decisions. The development, release, and timing of any features or functionality described for LatamReady’s products remains at the sole discretion of LatamReady.

Brazil Is Ready!
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