SAP TAX & LEGAL REPORTING FOR LATAM

Keep compliance simple.

  • Comply with Latin American regulations
  • Automate legal reports
  • Identify opportunities for improving/fixing all processes (i.e. logistics, production, financial, accounting and fiscal) that impact legal reporting
  • Avoid fines and penalties

 

Simplifying tax management processes is one of the biggest challenges for the fiscal, accounting, financial and IT departments of Latin American companies or multinationals with operations in LATAM. There is a multitude of options that companies unsuccessfully use to try and handle the complex legal and statutory compliance for Latin America, including the use of innumerous spreadsheets, tedious and error-prone manual processes, and inefficiently implemented integrations – all methods that are destined to fail and generate significant cost overruns over time.

The reality is that local fiscal and tax compliance teams typically face a “daily battle” to handle the various tax and legal obligations needed to operate successfully in Latin America. Legal compliance in the region is not “just a bit more” complex than other countries; it not uncommon for a company to spend an average of 2,600 hours a year to prepare reporting and pay taxes which is 10 times more cumbersome than the average spent in the U.S. or European countries.

Origen’s Legal Reports is focused on delivering SAP standard solutions (available on SAP ERP and SAP TDF) and complementary solutions developed by Origen aimed at enabling a company to generate Latin America legal reports in a more streamlined and efficient manner with accelerated precision.

Given that our approach assumes the reports will be generated from the base “system of record” (SAP), it is not necessary to manage duplicate databases, extract data from a 3rd party system into SAP, or have the tax department spend unproductive time reconciling and validating the data for fiscal reports generation. This approach not only assures almost zero defects in report generation but also leaves a very clean path from an audit perspective as the data is not “cooked” in order to achieve proper report submission.

 Origen counts on a specialized team not only for report generation but also for the integrity and adequacy of internal processes in order to generate clear and concise information, and consequently, reduce the amount of time and effort needed to execute these activities.

Origen Legal Reports Expertise

• Electronic Invoice (eDocument full solution HCI and basic solution) (for outcoming e-invoice)

• eDocument Solution covers the electronic transmission of the XML files for these processes for Peru:
o Transmission of Single Invoice/Debit Note/Credit Note.
o Transmission of Boletas Daily Summary.
o Void Document (cancellation).
o Withholding certificate.

• Electronic Invoice (PI and eDocument)
• Foreign Trade Complement
• Payment Complement
• Electronic Accounting
• DIOT report
• Deferred taxes process and report

• Electronic Invoice (eDocument full solution HCI and basic solution) (for outcoming and incoming DTE)

• Electronic Invoice (PI and eDocument)
• Foreign Trade Complement
• Payment Complement

• Electronic Accounting
• DIOT report
• Deferred taxes process and report

• Electronic Invoice (PI)
• Provinces perceptions regimes
• Sales and Purchase regime reports
• VAT calculation report
• Withholding calculation reports

SAP Legal Reporting for Latin America Advantages
• Proper analysis, correction and calculation of taxes and contributions inside SAP
• Avoid errors in data entry with SAP BRF+
o Ease of information consolidation, standardization, and cost reduction by removing legacy/local interfaces and complex systems administration
o SAP has its own development centers to maintain and develop products that are aimed specifically to attend to Latin American requirements
o The SAP solution for Latin America localization has been adopted by the majority of Large- and Medium-Sized enterprises, as well as global companies with subsidiaries in the region; this provides inputs for continuously improving the solution and localization packages offered by SAP
o Integrated Business Processes complying with country-specific regulations running on a modern platform utilizing HANA, SAP’s high performance in-memory database

As a recognized “Go-To-Market” SAP Partner, Origen specializes in implementation and development in all areas of SAP localization in Latin America to guarantee compliance for the logistics, financial, and foreign trade compliance requirements for operating in the region.

Origen is also the official SAP partner for offering Cloud solutions and the only American-based company that participates as an SAP COIL (Co-Innovation Lab) Partner for the SAP TDF (Tax Declaration Framework) solution, promoted by SAP Labs Latin America at São Leopoldo. Origen has customers that operate from various segments around the world including Brazil, United States, Europe, Mexico, Argentina, Colombia and other Latin American countries. We count on a team of consultants with more than 15 years of experience and knowledge in implementing projects, rollouts, enhancements, and support of solutions like SAP ERP, GRC-NF-e, PI, GTS, TDF and S/4 HANA. Origen invests in the development of our own solutions based on SAP technologies for the Latin American Market and is recognized by our customers for our ability to align with the strategic objectives defined by Corporate (centrally based COE typically located outside of Brazil), while facilitating the delivery and execution of implementation projects at the local country level.

 

Origen Legal Reports solution benefits:

Guaranteed compliance with Latin American countries laws

Ease of use

Accelerated precision to accurately generate Fiscal and Legal reports for Latin America

Specific expertise in projects involving localization and compliance followed-up with tailor-made SAP AMS support options for global multinational companies to sustain the operation.

Identify opportunities to improve/fix all processes (i.e. logistics, production, financial, accounting and fiscal) that impact legal reporting

Standardization, integration, safety and robustness of SAP Solutions or Extensions built by Origen on SAP standard platforms and solutions