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Solutions > LynasSPED > What is SPED? (Sistema Público de Escrituração Digital)
What is SPED? (Sistema Público de Escrituração Digital)
Regulations introduced in 2009 by the Brazilian government require digital registering of all accounting records and commercial transactions. SPED is aimed at improving tax auditing and collection efficiency to improve transparency in Brazilian businesses. The ultimate objectives are improved investor confidence and reduced tax rates.
SPED replaces the need for submission of paper copies of financial data.
Introduces three electronic filing requirements:
- Monthly Transactional Records (Purchases / Receipts, Sales / Shipments)
- Periodic Accounting (General Ledger) Data
- NF-e (real time electronic fiscal receipts for inbound and outbound material movements)
Compliance Dates:
- SPED for accounting data went into effect June 30, 2009;
- SPED for transactional data for some companies went into effect September 30, 2009;
- SPED for transactional data for second tranche of companies goes into effect January 30, 2010;
- SPED for NF-e requirements are in effect now for some industries. For others, January 30, 2010 is the proposed date.
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