Type: Legislation
The Brazilian government aims to simplify e-invoicing through a new National Statute for Tax Obligations. This statute covers the standardization of e-invoicing formats at municipal, state, and federal levels. The move not only streamlines processes for businesses but also 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. Additionally, Brazil is making strides in implementing VAT reforms. Small service providers’ mandatory adoption of NFS-e has been postponed to September 1, 2023, offering them more time for compliance.
Effective date: September 1, 2023