There are many rules for closing the fiscal year, according to accounting standards in Brazil. Therefore, if you have a company established in Brazil, the ideal is that you seek the proper guidance with a tax accountant in Brazil. 

The professional or company will be able to help your business, passing on important information about all the stages of closing the fiscal year. But if you don’t know all the accounting rules, Europartner will explain every detail in this article. Follow up! 

Annual Accounting Closing 

The end of the year is a time of festivities and holidays. However, for those who are entrepreneurs, this time of year represents the commitment to closing the bookkeeping of their company.

Therefore, managers and entrepreneurs must pay attention to accounting standards in Brazil and to all documents that need to be separated and delivered to the accounting office. In addition to generating all accounting and financial reports, organizations must provide the statements and other documents requested by the accountant. 

In fact, it deals with all the measures and procedures related to: 

• Delivering bank statements;
• Issuing investment statements;
• Invoice reports for purchases of goods;
• Stock inventory reports.

That is, it is necessary that the tax accountant in Brazil has all the documentation that allows you to check the financial and tax situation of the company. 

Which levies are paid at the end of the year?

At the end of the year, a series of taxes are paid by companies incorporated in Brazil. The following are levies, therefore, amounts on the payroll: Christmas Bonus (in the case of registered professionals) and paid vacation.

In addition, there are tax collections such as the IPTU [Urban Real Estate Tax] of the property where the business is installed and IPVA [Tax on Vehicles], the tax related to the company’s vehicles, if any.

It should be noted that there are differences in values ​​for companies that fall under the Simples Nacional [Federal Simplified Tax System for Small Businesses] regime. After all, Simples Nacional offers advantages for micro and small businesses in this legal nature. 

A tip: list all these payments in a spreadsheet or on a specific digital platform to automate your company’s processes. 

Thus, you can keep your finances up to date throughout the year, especially during the fiscal closing period, when there may be a greater need for document checking and tax payments. 

Likewise, talk to your accountant, check the dates and values ​​so you don’t miss the deadlines. This certainly prevents your company from having to pay fines and charges for late payment.

Attention to main accounting obligations and ancillary obligations.

Together with your company, the tax accountant in Brazil is responsible for declaring the amount of taxes due, according to the type of company. However, your company incorporated in Brazil must be aware of the ancillary obligations and delivery deadlines in each period.

In short, ancillary obligations have the function of pointing out to the government the operating situation of your company. Among the information that is investigated is the correct format of taxation that has been used, for example.

In this regard, check which annual accessory obligations your company is subject to. In this way, it is possible to ensure the provision of all essential information by passing it on to the accountant. 

Do your tax and financial planning with a tax accountant in Brazil

Keeping your financial and tax planning updated for each new year is paramount to the success of your business. This practice avoids errors and ensures the full organization of business accounts.