Electronic Tax Reporting

You might be required to report taxes electronically according to the requirements of Ato COTEPE 70 of 2006. Companies subject to the reporting requirement must report via magnetic media all of their business transactions that occurred over a period of time. The government defines the period of time (reporting date range), the required information, and magnetic media layout.

Note: Ato Cotepe 70 refers to a legal reporting requirement in Brazil. Only the state of Pernambuco and the Federal District (Distrito Federal) use the guidelines described in the chapters for Ato Cotepe 70 of 2006. All other states use the electronic file generation as described in the chapters for SPED Fiscal.

This table describes the data that companies must report:

Type of Data	Description
General ledger	Debit and credits, and accounts with a balance other than zero (0) are reported in the accounting files.
Accounts payable and accounts receivable	Transactions between the company and the customers and suppliers are reported in the customer and supplier files. All transactions, such as purchases and sales, that occurred within a period are considered without regard to status.
Fixed assets	The company's fixed assets, including retired assets, are reported in the fixed assets file.
Inventory	The stock entries, such as those for sales, purchases, inventory movement, and manufacturing, and the balance for each item, are reported in the inventory files. This information is grouped by fiscal company.
Manufacturing	The part list is reported in the manufacturing files.
Fiscal books	The information contained in the fiscal documents (notas fiscais) is reported in the fiscal documents files. Documents issued by the company and those issued by the company's suppliers are reported separately. The files are generated and grouped by the fiscal company.
General information	General information such as data about suppliers and customers, data about individual and legal entities, account master information, business units, and items are included in the electronic files.