Brazilian Accounting Requirements

"We have accounting solutions to meet your needs"

 

Choose one of our effective, efficient accounting solutions for your company.

 

  • Opening a business

If you or a company you represent wish to open or acquire a business in Brazil, please fill out the necessary information on our Business Contact Form, mentioning opening a business in the comments section, or see our pages on Starting a Business in Brazil and Acquiring a Business in Brazil for more information.

 

  • Tax consulting

If you own your own business or represent a company and would like to know how you can optimize your Brazilian company to minimize your tax payments please arrange a consultation and fill out the necessary information mentioning tax consulting in the comments section.

    

  • Issuing official invoices (nota fiscal) and paying taxes

If you own or represent a company or are planning to and would like an accountant or accounting team to take care of issuing official invoices (nota fiscal) please contact us using the Business Contact Form to arrange a meeting with one of our accountants.

 

  • Outsourcing your company's accounting

If you wish to outsource all of your company's accounting please contact us to arrange a meeting with one of our accountants.

 

 

Accounting in Brazil

Companies in Brazil should use an accountant for tax reporting and issuing official tax invoices, which are required to bill companies in Brazil. We work together with a Brazilian accounting firm when setting up your company here, you can choose to continue with this firm or we can recommend another to suit your requirements.

 

Brazilian GAP - IFRS convergence

Brazilian accounting practices are currently in a convergence process towards International Financial Reporting Standards (IFRS). This process should be completed by 2011.

Brazilian legal accounting requirements are based on an old Corporate Law of 1976 that was recently and significantly modified in December 2007 through Law 11.638/2007 that introduced new accounting rules in compliance with IFRS. Listed companies must also follow the regulations of the Brazilian Securities Commission (CVM).

 

Company Tax Regimes

There are three tax regime options for companies in Brazil; these should be taken into consideration when constructing the articles of incorporation for your company. The three taxation options are: Simples (Simplified), Lucro Real (Actual Profit) and Lucro Presumido (Presumed Profit). For more information on the requirements and benefits of each of these tax regimes see our section on Taxes or arrange a meeting with one of our consultants.

 

Auditing in Brazil

In Brazil, publicly held companies and large private companies (with gross revenues of above R$300m or Total Assets above R$240m) must have their financial statements audited by an independent auditor. Publicly held corporations ("Sociedades Anonimas") must publish their financial statements in a local newspaper. Privately held limited liability companies ("Limitadas") are not subject to these legal requirements, unless they are large companies.

 

Find me an accounting firm