The much-discussed tax reform is beginning to take shape in Brazil, bringing significant changes to how taxes are calculated, collected, and remitted.
For companies, this represents not only an adaptation to the new tax model, but also an opportunity to modernize their financial and management structure.
What changes with the tax reform?
Among the main points of the reform, the following stand out:
Unification of taxes
The proposal calls for the replacement of five taxes (PIS, Cofins, IPI, ICMS, and ISS) with two main taxes:
- CBS (Contribution on Goods and Services): a federal tax;
- IBS (Tax on Goods and Services): a state and municipal tax.
Broad and non-cumulative credit system
The reform aims to simplify the tax system and allow for greater transparency in tax assessment.
Billing at the destination, not the origin anymore.
A model more aligned with international standards, which reduces distortions between states and stimulates national competitiveness.
These changes, while positive from a structural point of view, require significant preparation from companies, especially regarding their financial and tax management.
The challenge of real-time compliance
With new rules, variable tax rates, and transition periods, companies need to be prepared to continuously update their systems, ensure the correct classification of operations, and avoid tax risks.
Businesses that still operate with rigid systems or manual processes will feel the impacts of change even more. Automation and flexibility will be key to navigating this transformation safely.
How does NetSuite support companies in this scenario?
Oracle NetSuite, a cloud-based ERP system adopted by companies worldwide, already stands out for offering an intelligent, integrated, and real-time updatable tax platform.
In a tax reform scenario, these differences become even more relevant:
- Automatic updates to tax rules and rates: Reduce the risk of inconsistencies and fines.
- Automated tax calculations in accordance with the new legislation: CBS and IBS are ready for integration.
- Real-time tax reports with a high degree of accuracy.
- Integration with sales, purchasing, and inventory areas: Ensure that the correct taxation is applied at every stage of the business.
Furthermore, being a 100% cloud-based system, NetSuite allows for secure remote access, ideal for companies seeking scalability, flexibility, and compliance even in contexts of constant legislative changes.
Preparing now for competitiveness tomorrow.
Tax reform is not just a bureaucratic change; it's a watershed moment for the competitiveness of Brazilian companies. Investing in more strategic financial management, supported by cutting-edge technology, is the safest way to adapt to the new demands and get ahead.
Want to understand how to prepare your business for this new reality? Talk to the experts at Active and discover how Oracle NetSuite can help your company navigate the tax reform with confidence.
