Defining ICMS Posting Notes

Note:

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

In Brazil, state tax authorities may require you provide annotations when reporting the collection of the Imposto sobre Circulação de Mercadorias Serviços (ICMS) tax. The notes may contain information about the applicable tax adjustments, benefits, or incentives. The notes are part of statutory reports such as the EFD ICMS IPI file.

To define the annotation that should appear on reports with transactions subject to ICMS, the Brazil Reports SuiteApp provides the ICMS posting note record. On the ICMS posting notes, you can define which annotation applies to transactions with a given combination of state, Código Fiscal de Operações e de Prestações (CFOP) code, and transaction nature.

To define an ICMS posting note:

Setup > Brazil Reports > ICMS Posting Note.
In the State field, select one or more states to which to apply the note.
In the CFOP Code field, select one or more CFOP codes to which to apply this note.
In the Transaction Nature field, select one or more transaction natures to which to apply this note.

NetSuite will associate the note to all transactions that match with a state, CFOP code, and transaction nature you set up on this record.
In the Note field, enter the note you want to provide to the tax authority.

You can include information about adjustments on e-documents, advance tax payments, rate differential, among others.

NetSuite includes the note in the EFD ICMS IPI report.
If the state tax authority defined a specific code for the tax adjustment, benefit, or incentive that applies to your company, in the Code field, enter the code.

The code must be 10 characters long.
If you entered a code, in the Description field, enter a complementary description for the code.
Click Save.

To define an ICMS posting note:

Related Topics