Supporting Start-ups
Supporting business start-up in Brazil
An outsourcing solution for companies beginning operations in Brazil allowing executives to focus on the main business activities and thus ensuring full compliance with Brazilian legal requirements.
- We may represent the company as the Legal Administrator and serve as Attorney-in-Fact for foreign shareholders.
- We may provide temporary address to satisfy initial filing requirements.
- Outsourcing of accounting, tax compliance, financial and payroll processes, by using our ERP (Enterprise Resource Planning) system
Finance and Accounting
Finance and Accounting Services (F&A)
AFAS provides a full accounting service for companies or businesses which do not wish to have this important function performed in-house. This could well be the case where, for example, the business is not of a scale where competent accounting professional staff can be engaged on a full time basis at a cost that is competitive.
- Corporate and International accounting (US GAAP and IFRS).
- Preparing management reports and analysis to the format required by clients.
- Processing documents relating to sales, collections, payments and other transactions, and posting to General Ledgers and subsidiary accounts ledgers.
- Preparation of Trial Balance, Profit and Loss Account and Balance Sheet at periodic intervals, either monthly, quarterly, half yearly or annually.
- Drafting Statutory Financial Statements.
- Preparation of deferred tax computation (monthly and at financial year-end).
- Cost calculations and inventory control.
- Fixed asset control.
- Liaising with auditors and tax agents for year-end audit and corporate tax filing.
- Prepare and transmit annually the Digital Accounting Bookkeeping (ECD) a component of Brazilian Public Digital Bookkeeping System (SPED).
Tax Compliance Services
Tax Compliance Services
Outsourcing of the tax area with the support of systems, tools, processes, experience and personnel of AFAS’ Outsourcing and Tax Consulting areas to provide the client with greater efficiency in processing tax compliance. Our methodology offers companies an efficient way to deal with tax obligation compliance and meet deadlines.
- Maintain fiscal books properly recorded and updated for tax payments and auditing purposes.
- Monthly calculation for taxes and contributions levied on gross revenue (ICMS, IPI, PIS, COFINS and ISS) and on net profit (Corporate Taxation - IRPJ and CSLL).
- Preparation and electronic submission of tax obligations and other tax control requirements.
- Management reports and analyses to meet the needs of each client.
- Prepare and file the annual Corporate Income Tax Return (ECF – Tax Bookkeeping), a component of Public Digital Bookkeeping System (SPED).
- Support Company’s management to define and adopt the transfer pricing methodology in accordance with the legal requirements.
Payroll & HR Services
Payroll & HR Service
Confidentiality in staff remuneration matters is of utmost importance in any organization. The best way to achieve this objective is to have the payroll preparation function delegated to an outside party, such as our Outsourcing Practice. We provide the required confidentiality and professionalism, which is essential when handling the payroll process. In addition, businesses may actually find it more cost effective to outsource this function rather than to carry it out in-house. Payroll & HR services are comprehensive and include:
- Registration of company as an employer with the statutory bodies such as the Internal Revenue Service (IRS), the Employees Retirement Pension Fund (FGTS), and the Social Security Organization (INSS).
- Registration and/or notification of a new employee with INSS and FGTS.
- Payroll processing and accounting register of salaries and social charges.
- Computation of the monthly amounts due to each employee, taking into consideration the statutory deductions, recurring and special non-recurring income and deduction items.
- Preparation of confidential individual pay slips and monthly payroll reports.
- Preparation and filing of monthly returns (IRS, INSS and FGTS).
- Preparation of annual returns, as required by the legislation in force, including e-Social.
- Payroll related payment services.
- Maintain benefit plans documentation including medical and life insurance.
- Monitor benefits for compliance with company policies and government law.
Financial Routines
Financial Department routines
Processing of all payments regarding payroll, payroll taxes, municipal, state and federal taxes, suppliers and service providers, in accordance with company’s procedures and policies. Acting as attorney-in-fact we can execute all approved payments or depending on the client needs we will just include the payments requests in the banking network (EDI) for appropriate company’s representative signature/payment.
Other activities would comprise:
- Control and processing of accounts receivable and accounts payable.
- Liaising with banks, reconciliation of accounts receivable and accounts payable and settlement of client and supplier balances.
- Calculation of taxes on foreign remittances and review of taxes withheld.
- Cash flow and bank account reconciliation and control.
- Billing and control of accounts receivable collections.
- Preparation of management reports.
- Advisory services in the preparation of annual budgets, reviews and follow-up.
- Analysis of key performance indicators and analysis of financial statements.
