Vertex Inc., the leading provider of corporate tax solutions, announced today a partnership with Synchro, the leading Brazilian tax compliance reporting provider. The partnership continues Vertex’s expansion into the Brazilian market, providing tax compliance and fiscal reporting solutions to multinationals who conduct business there.
Synchro develops expert tax reporting solutions that help companies comply with Brazil's extremely complex tax scenarios. Synchro's reporting solutions complement Vertex's leading global tax calculation solution Vertex Indirect Tax O Series and are integrated with the leading ERP systems around the globe, including JDEdwards, Oracle, PeopleSoft and SAP. In addition, Synchro technology features an open architecture to enable easier integration for clients.
“Vertex is proud to partner with Synchro to deliver comprehensive tax compliance solutions in Latin America,” remarked Vertex CEO, Jeff Westphal. "Global corporations will now be able to achieve tax compliance in Brazil, while benefitting from the strategic business value this partnership provides."
Companies operating in Brazil are required to report and transmit transactions online to the Brazilian Tax Authority database on a daily, monthly and yearly basis. In order to submit daily transactions, companies must use an Electronic Invoice (NF-e) and SPED (Sistema Publico de escrituracao Digital [Public System of Digital Accounting]) reporting in order to track monthly/yearly accounting information. Synchro's expertise in NF-e and SPED reporting will be invaluable to global corporations who conduct business in Brazil.
“We are excited to partner with Vertex to provide innovative tax compliance reporting solutions to businesses who have operations in Brazil,” said Synchro CEO, Ricardo Funari. "This partnership with Vertex will enable multinational corporations to report their end-to-end financial data, helping to reduce audit risk and maintain regulatory tax compliance.”
Since 1978, Vertex, Inc., has been a leading provider of tax technology and services, enabling companies of all sizes to realize the full strategic potential of the tax function by automating and integrating tax processes, while leveraging advanced and predictive analytics of tax data. Vertex provides cloud-based and on-premise solutions that can be tailored to specific industries for every major line of tax, including income, sales and consumer use, value added and payroll. Headquartered in Pennsylvania, and with offices worldwide, Vertex is a privately held company that employs over 900 professionals and serves companies across the globe.