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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 statutory ledgers for legal reporting in Brazil:
​

Federal Statutory Ledgers (Monthly)

  • EFD Contribuições: PIS and COFINS (Cumulative & Non-Cumulative) for Services and Inventory Items.
  • EFD-Reinf: Including blocks R1000, R2010, R2020, R2060, and R2090.
  • DCTF-Web (MIT).

State & Municipal Statutory Ledgers (Monthly)

  • EFD ICMS-IPI: For both Cumulative and Non-Cumulative regimes.
  • GIA-SP: Specific for the state of São Paulo (Guia de Informaciones de Apuración del ICMS).
  • DES: Service Tax Return (Belo Horizonte).
  • GNRE (DIFAL): Tax payment forms for interstate transactions.

Fiscal Records & Books

  • Incomes & Outcomes Books: Specifically formatted for São Paulo and other jurisdictions.
  • ICMS Calculation Book.
  • DIMOB: Real Estate Activity Information Return.

Tax Rules & Tax Calculation
​Features for Brazil

*For services

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

Sales taxes in Brazil are calculated within NetSuite through a powerful blended solution that combines:

  • NetSuite Localization Tools.
  • LatamTax: Our proprietary tax engine designed specifically for Latin American complexities.
  • Systax Integration: A leading tax intelligence solution in Brazil specializing in inventory and consumption taxes.

From a user perspective, the entire process is seamless within NetSuite. LatamTax determines local taxes and establishes a secure web service connection to Systax to retrieve the correct tax rates for sales and purchase transactions.

Key Features:

  • Real-time Tax Determination: Automated calculation for both Inventory and Service items.
  • Withholding Tax Management: Automated calculation and reclassification (Individual or Bulk) to ensure full compliance with Brazilian federal and municipal regulations.

Fixed Assets

In conjunction with NetSuite's Fixed Asset Management (FAM) module, LatamReady supports the specific legal requirements for Brazil, ensuring full compliance for asset-related tax and reporting.

Tax Calculation for Fixed Assets:

  • Supported Taxes: Automated calculation for PIS and COFINS credits related to fixed assets.

CIAP Calculation (Control of ICMS Tax Credit):

  • Monthly Credit Determination: Automated configuration for calculating the monthly ICMS credit amount based on the specific requirements of each period.

Statutory Reporting (SPED):

  • EFD Contribuições: Generation of Block F120 (Identification of Credits on Fixed Assets).
  • EFD ICMS-IPI (Fiscal): Generation of the following blocks:
    • Block 0300: Statutory Asset Register.
    • Block 0305: Information on the use of the asset.
    • Block G125: Movement of ICMS on Fixed Assets (CIAP).

LatamTax + Systax pre-configured set of taxes includes:

  1. 1.PIS (Contribuição para os Programas de Integração Social)
  2. 2.COFINS (Contribuição Social para o Financiamento da Seguridade Social)
  3. 3.CSLL (Contribuição Social sobre o Lucro Líquido)
  4. 4.ISS (Imposto sobre Serviços)
  5. 5.IRPJ (Imposto de Renda de Pessoa Jurídica)
  6. 6.FUST (Fundo de Universalização dos Serviços de Telecomunicaciones)
  7. 7.FUNTTEL (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)
  10. 10.ICMS ST (Substituição Tributária)
  11. 11.IOF (Imposto sobre Operações Financeiras)
  12. 12.CIDE (Contribuição de Intervenção no Domínio Econômico)
  13. 13.DIFAL (Diferencial de Alíquota do ICMS)
  14. 14.Import Withholdings
  15. 15.Late Payment Calculation (Interest and fines on debit notes)
  16. 16.Bulk Payments & Advance Payments
  17. 17.Tax Substitution & Tax Reduction
  18. 18.WHT Recognition (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:

  • Individual Processing: A native 2-step process following the NetSuite standard. First, the document is created; then, it is generated and sent manually.
  • Massive Generation (Add-On): Designed for high-volume operations, allowing the processing of tens of thousands of documents in bulk.
  • Bulk Generation (Add-On): Optimized for processing up to 200 documents simultaneously.
  • Ecommerce Edition (Add-On): Specialized for high-velocity Ecommerce companies.

Easily manage NF-e (Goods), NFS-e (Services), CT-e (Logistics), and CC-e (Correction Letters) directly from NetSuite! With the LatamReady App, international corporations can issue pixel-perfect electronic documents with a single click. Our localization supports domestic transactions, imports, exports, and inventory transfers.

LatamReady App users can also utilize massive billing features with automatic configuration for non-electronic statutory documents, ensuring consistency across all billing streams.

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

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, LatamReady enables companies to process bulk electronic payments and collections following the specific local formats (CNAB) required in Brazil.

Our solution complements electronic invoicing with the ability to generate Boleto Bancário (the standard PDF payment method expected by Brazilian customers) and the corresponding remittance/return files for the bank.

Supported Banks for Collections (Boleto Bancário):

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

Supported Banks for Bulk Payments (Transfers & Taxes):We support payments with tax withholdings, interest, and fines, as well as transfers and "Boleto" payments for the following banks:

  1. 1.Bank of America (Brazilian branch)
  2. 2.Itaú (Including PIX support)
  3. 3.Bradesco
  4. 4.Santander
  5. 5.JP Morgan
  6. 6.Citibank

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. This module enables the processing and sending of electronic documents by batch or in batches. 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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