Brazil has long been considered amongst the most difficult regions to achieve tax compliance. The country represents the most diverse landscape for VAT determination of any industrialized nation. The complexity of its fiscal rules and validations are increasing by the day, evidenced by the fact that since the Federal Constitution was enacted in 1988, nearly five million tax related laws and decrees have been issued. This is an issue that is costing businesses a disproportionate amount of time, money and resources. In Brazil, 37% OF TOTAL OPERATIONAL COSTS are related to tax modification. Managing Tax is Getting Expensive Change is Constant Financial Penalties are Soaring Changing Regulations at Every Level Manual Processes Can’t Keep Pace 90 different taxes, with differences based on region and company operations +100 TAX MODIFICATIONS DAILY. Companies face costly audits, fees and penalties that NOW EQUAL $35 BILLION USD PER YEAR. 320,343 taxable edocuments, 30,322 of which are federal, 96,644 state and 193,357 municipals. 80% OF BRAZIL COMPANIES rely on manual processes to issue and receive electronic documents. The Number of Standards are Increasing On average, 522 STANDARDS are published each day, or 782 STANDARDS per business day. Untangling Tax Laws in Brazil is Beyond Difficult It’s time to transform the way your business manages tax and supply chain in Brazil. Sovos’ approach to tax safeguards your business from liability and hidden compliance costs with our incoming invoice validation, real-time calculations and reporting solutions. If you are ready to solve your Brazil tax issues, you are ready to Next >