Digital Accounting Bookkeeping: Who Qualifies and What You Get
Learn how companies in Brazil submit digital accounting books to the government and the requirements for staying compliant.
Digital Accounting Bookkeeping is a requirement for certain Brazilian companies to submit their accounting records to the government in a digital format.
Who it's for
This scheme applies to companies operating under specific tax regimes, specifically those under the Lucro Real or Lucro Presumido systems.
What you get
You gain the ability to fulfill your legal obligation by submitting your accounting books to the government electronically. This digital submission process is designed to replace older, manual methods of reporting financial records.
What it costs you
To comply, you will need to employ a professional accounting firm to manage the records. You will also need to use a digital signature to validate your submissions.
The catch to know
The submission must follow a very specific digital layout. If the data does not match the required format exactly, you may face heavy financial penalties.
How to apply
- Consult with a professional accounting firm to prepare your records.
- Ensure all data follows the required digital layout.
- Use a valid digital signature to authorize the files.
- Submit the records through the official government channels.