- The Brazilian government is implementing a new National Statute for Tax Obligations to simplify e-invoicing.
- The statute standardizes e-invoicing formats at municipal, state, and federal levels.
- This streamlines processes for businesses and enhances tax reporting digitization.
- It enables easier calculation of indirect taxes and facilitates pre-filled VAT returns.
- A committee will be established to assess the current reporting and e-invoicing systems for consolidation.
- Brazil is also implementing VAT reforms, with small service providers’ mandatory adoption of NFS-e postponed to September 1, 2023.
Source: tpa-global.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
