1. Country-Specific Features
  2. Brazil Help Topics
  3. Brazil-specific SuiteApps
  4. Brazil Reports
  5. Tax Assessment for Brazil
  6. Assessing IPI

Assessing IPI

Note:

To access the Brazil Reports documentation in Brazilian Portuguese (Português do Brasil), see Brazil Reports.

The Imposto sobre Produtos Industrializados (IPI) tax applies to transactions in Brazil involving manufactured goods.

The IPI assessment calculates the tax paid and the tax due on NetSuite transactions. The result of the assessment is a summarized report and the total of IPI due or the IPI credit.

The IPI assessment record enables you to define the adjustment amounts that should be added or deducted from the assessment. In the assessment record, you can also enter balances from previous assessments that entitle your company to tax credit.

Tip:

You can leverage the inbound goods and outbound goods fiscal books to review the assessment report. For more information about generating the fiscal books, see Generating Country Tax Reports for Brazil.

To assess IPI:

  1. Go to Reports > Brazil Reports > IPI Assessment > New.

  2. In the Subsidiary field, select the subsidiary whose IPI amounts you want to assess.

  3. In the Start Date field, select the start date of the assessment period.

  4. In the End Date field, select the end date of the assessment period.

    NetSuite uses the start and end dates to determine the posting period to which the assessment applies. You cannot create, edit, or generate a report for the assessment after the posting period closes.

  5. To add a debit or credit adjustment to the assessment, do the following:

    1. Click the Debit and Credit Adjustments subtab.

    2. In the Adjustment Code column, select the code with which you want to associate the adjustment.

      The adjustment code determines whether NetSuite adds or subtracts the amount from the tax assessment.

    3. In the Adjustment Origin column, select the type of document that originated the adjustment.

    4. If the origin of the adjustment is one of the following, in the Document Number field, enter the number of the document that identifies the origin.

      • Administrative case

      • Court case

      • Refund order or compensation statement (PER/DCOMP)

      • Other

      If the origin is 3 - Documento Fiscal, do not enter a document number. For this origin, NetSuite retrieves the document number from your transaction records.

    5. In the Description column, enter a description for the adjustment.

    6. In the Amount column, enter the amount to be added or subtracted from the assessment.

    7. Click Add.

      Repeat the previous steps to add other adjustments.

  6. To add IPI credit balance from the previous assessment period, do the following:

    1. Click the Tax Amount subtab.

    2. In the IPI Credit Balance field, enter the balance.

  7. Click Save.

    NetSuite saves the assessment record.

  8. To generate the assessment report, click Generate Report.

    If the assessment covers a long period, the report generation may take a few minutes to complete. You can monitor the progress on the Country Tax Reports page. For more information, see Monitoring the Generation of Tax Assessment Reports.

    NetSuite notifies you through email when the report becomes available. The system also updates the assessment record with the calculated tax amounts.

  9. When you receive the email confirming that the report was generated, in the Report field, click View.

    NetSuite opens the Country Tax Report - Brazil page.

  10. Click the PDF icon Adobe Reader icon to download the report.

Related Topics

General Notices