Brazil
Legal and Accounting Services in Brazil
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Brazil Legalities
Brazil has a complex system of regulation for imports. Multiple government agencies are involved in the control, labelling, packaging and quality/safety requirements for different products.
You should seek expert advice from a legal professional or import agency before exporting to Brazil
Business isn't as easy in some countries as it is here in the UK. You need to be aware of the cultural and legal implications of your business operations in Brazil, because you could face heavy punishment for transgressing.
It is therefore important to acclimatise yourself with the law. There will be many legalities that you will have to adhere to, and you may even find that some laws you are familiar with here in the UK are no longer applicable. Likewise, you may find some new laws which strike you as strange or even oppressive.
Some of the areas to investigate are:
Labour Laws
The body of laws, administrative rulings, and precedents which oversees the legal rights of, and restrictions on, employees and their organisations. This will include things such as minimum wage, holiday and maternity entitlement, ergonomics, trade unions, disability, etc.
Commercial Laws
The body of laws which oversee business and commercial activity. It may encompass such areas as principal and agent; freight and shipping; guarantee; marine, fire, life and accident insurance; bills of exchange and partnership; contracts; food and health regulations; safety laws; privacy rights; copyrights; trademarks; etc.
Civil / Common Law
The body of law that oversees sociality. It is invariably culture specific. It is important to familiarise yourself with these laws, especially as you will be adopting a new environment and culture.
Intellectual property
Brazil is a member of the World Intellectual Property Organisation (WPO). Its legal provisions are generally consistent with international standards. A new trademark and patent agreement law was enacted in Brazil in 1996. It follows international standards established by the Trade-Related Aspects of Intellectual Property Rights (TRIPS).
Legal processes in Brazil can be time consuming and costly.
Accountants in Brazil
It is recommended, and probably in your best interest, to employ an accountant. They'll nearly always save money, and more importantly, will make your business the most financially efficient it can be. Used wisely, accountants in Brazil can make you more profitable than ever.
Accountants in Brazil provide a range of services. They can look after everything financial, from fundamental book-keeping to more expert advice. You could hire accountants in Brazil simply to prepare financial statements for your tax return, or you may require them for other added-value services such as auditing. Accounts must be audited each year, unless the company or region you are based in is exempt.
Brazilian companies must annually publish a balance sheet, profit and loss account, and any information necessary to understand the company's financial situation. The financial accounts must be controlled by an auditor registered with the Securities and Exchange Commission.
It is essential to choose an appropriate accountant for your circumstances. If you just want an accountant to take care of your book-keeping, then a small firm will probably suffice. However, if you require astute financial and planning advice, a larger, more reputable company might be needed. Check they're chartered / registered with a recognised accounting body. It is important to lay out exactly what you want them to do for you and what the charges will be.
Keeping a sound financial record is essential. Apply yourself. Have a good system in place and then the time that you do spend on accounts won't be so burdensome. Ensure you retain receipts for everything you buy. It is recommended that you keep a ledger or book with the details of what the receipt is for. Keep a record of all sent and received invoices too. These will keep you informed that you've been paid or have money owing, etc.
Ultimately, applied and diligent record-keeping will keep your accountancy costs low.
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