Tax Parameterization
Tax Parameterization
Nowadays, entrepreneurs must be aware of different aspects that guide the management of their business. Among them, everything related to the payment of taxes. And to keep this subject always updated, it is necessary to know the fiscal parameterization.
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It is a method that helps a lot when paying taxes correctly. It also helps to avoid unnecessary expenses. And if you want to know more about the subject and why it is important for companies in the most diverse areas, continue reading this article.
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In the following topics, see the main information about what fiscal parameterization is and why it is important.
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What is tax parameterization
Why is it important to apply the method
Tips for setting up tax parameters
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Understand the tax classification of goods
It consists of a method that is based on reclassifying the codes of the products that a company sells. The purpose of fiscal parameterization is to make input and output operations easier to perform.
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In other words, the method allows performing an accurate accounting analysis. This is because with it it is possible to make the correct calculation of taxes. That is, the team responsible for accounting is able to determine the taxes that must be paid more easily.
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Thus, as a result, the company may have a lower expense when it comes to paying the taxes it owes to the government. After all, with the fiscal parameterization, the fiscal sector verifies if any of the products has a tax benefit. This action can reduce the tax amount or even exempt it.
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Also, you should know that the laws governing the collection of taxes are constantly changing. This means that it is necessary to know what the changes are in order to always pay taxes properly. And with this method it is feasible to promote a general update.
What's more, by adhering to the technique, your company can modernize the system used by your team. Thus, you will be better able to keep the codes of the products sold up to date.
What is tax parameterization
Why is it important to apply the method
Due to the many benefits of fiscal parameterization, it is an essential measure for your business. As already said, with its realization, the company has the potential to save money. This is because there is no longer the risk of paying for taxes that are not necessary.
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That way, the money that would be spent on this can be invested in another way. Whether buying new equipment or hiring more professionals. Therefore, classifying product codes in the right way can make your company grow and obtain a market differential.
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And as a result, your business has a real chance of becoming more profitable, as it will invest in fundamental aspects for its success. This is true for entrepreneurs of all sizes and market segments. That is, it is a beneficial action for all sectors of the economy.
In addition, tax parameterization helps a lot when paying taxes on time. Thus, you avoid a lot of headache and even problems with the tax authorities. After all, if you don't pay taxes properly, you are subject to fines and other penalties.
To take full advantage of the method, it is essential to have the support of a professional who is an expert in the tax area. He must know how Brazilian law works on the subject. You still need to be up to date on the latest changes.
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In general, the tax analyst starts the fiscal parameterization with the calculation of taxes. It also analyzes the rate of each of them. The most important are ICMS and ICMS-ST, in addition to IPI, PIS and COFINS, which influence the issuance of electronic invoices.
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The professional verifies the ICMS CST and CFOP, as well as the IPI Framework Code and CEST. All these aspects are customized according to each product. Even according to its purpose and the state to which it will be sent.
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In addition, the person responsible for the work guides the company on what are the legal grounds that must be included in the invoice. The result is a reduction in errors in tax documents. There is also a drop in the number of assessments and the optimization of time in relation to tax activities.
Tips for setting up tax parameters
Understand the classification of goods
To better understand what it is and the advantages of tax parameterization, it is worth knowing how the tax classification of goods works. This is product categorization. It is done with the aim of having a more efficient control of the items that the countries produce.
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This includes the items that are sold. Whether within the national territory or abroad, as well as goods that are imported from other countries. Therefore, according to the situation, each product receives a numerical code.
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It serves to show the details regarding its composition and origin. It is also necessary to determine your tax framework. These parameters are defined and regulated by the country's government. In this way, he manages to control its production, sale, import and export.
Knowing the subject is useful because the price of all the products that a company works with goes through the tax classification. And when it doesn't happen correctly, there is a chance that the business will lose money by paying more taxes. Or even be in debt to the tax authorities, which will have consequences.
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Therefore, this classification also helps to have more security and practicality when complying with tax obligations. And to classify accurately it is necessary to know what the composition of each item is. One should also know the existing categories.
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This care is mandatory from the beginning of a company's operations. However, the classification needs periodic review, which fiscal parameterization helps to perform efficiently.
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