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Over the past two years we have noticed a significant trend among our large multi-national national clients using Oracle EBS in Brazil. More and more have determined that Compliance is the best fit to meet their needs for third party tax reporting solutions in Brazil.
Adam Pepper | Strategic Consulting Director TRI
2,600 hours annually calculating 9 taxes.
Companies in Brazil spend 2,600 hours annually calculating 9 taxes that accounts for 68.3% of their profits. The structure cost and efforts to meet the current rules in the country represents an important part of the self-appointed “Brazil Cost” with a strong impact on its personnel and technological structure.
Check out the Challenges
- Compliance and reporting a high number of tax liabilities declarations in electronic format with required different layouts;
- Keeping up with tax legislation changes. Tax rules are created and amended on an almost daily basis at the federal, state and municipal levels;
- Aggressive tax authority’s actions in relation to tax planning;
- Tax management processes increasingly detailed;
- Electronic checks data crosschecking;
- Complexity and costs in keeping paper and electronic files records.
Meet the Goals
- Accurate tax calculation;
- Reduce tax burden;
- Turn tax processes management efficient;
- Handle ongoing inspections.