72% of the companies are not ready for reform.

Companies face a tight deadline to adapt to tax reform.

Less than three months before the first practical obligations of the tax reform come into effect, a worrying scenario is emerging in Brazil: 72% of medium and large-sized companies are still not prepared to adapt their internal processes to the new rules for collecting and declaring consumption taxes. The first phase of the transition begins on January 1, 2025.

The challenge of the new rules

A survey by the technology company V360, which polled 355 companies in the retail, industrial, construction, agribusiness, and technology sectors, reveals that the main difficulties are concentrated in receiving and verifying invoices. The challenge? These invoices will now have approximately 200 new fields to adapt to the new taxes.

Most of the companies surveyed are based in the Southeast Region (68.2%), the region that concentrates the largest volume of commercial operations in the country and, therefore, will face the most direct impact.

Risk of operational paralysis.

The report points to a critical bottleneck: most companies are focusing their efforts on issuing the new invoices, but neglecting the tax collection process—that is, how they receive their invoices, verify them, and pay suppliers. According to the study, this will be one of the areas most impacted by the reform.

The consequences can be severe. Companies that fail to make the transition by the deadline may face billing freezes and difficulties paying suppliers, directly affecting cash flow and business continuity. As V360 warned: if a company cannot issue and settle invoices, it may simply cease operations.

Race against the clock

To avoid this paralysis scenario, companies need to accelerate their adaptation to electronic invoicing and processing systems. Time is short, and the window for technical implementation and team training is closing rapidly.

Photo by Brett Jordan on Unsplash