2023-06-15 21:18:45
Sinerlog, a technology company for international trade, and SGS, specialized in inspection and certification, announce the creation of the cross border electronic invoice, the e-Invoice. The solution seeks to increase the security of cross-border transactions via blockchain and increase the competitiveness of Brazilian companies in the face of illegal imports, mainly from Asian countries.
Together, the companies estimate to issue 15 million electronic invoices in 2023 and aim to supply 2,000 partners to use the e-Invoice by the end of the year, drastically helping to reduce fraud. The American startup, Sinerlog, recently arrived in the Brazilian market and expects to reach BRL 106 million in revenue by the end of this year.
A cross border e-Invoice is an electronic document available in prescribed format between a supplier and a buyer located in two different countries. Technology plays a central role in building trust. For the competent authorities, it facilitates inspection and can be transferred automatically to the Federal Revenue in pre-dispatch, reliable calculation of fees and taxes and allows financial authorities to approve payment in foreign currencies.
“Combating import irregularities, especially customs fraud, is one of the great challenges for governments and the private sector. The recurrent practice of falsifying documents presented to the Federal Revenue Service, whether due to the values presented or false declarations of content or customs classification, is the main problem encountered”, explains Fábio Baracat, CEO of Sinerlog.
The tool goes according to the Normative Instruction 2124, responsible for inhibiting the digital street vendor. Among other benefits, the new guideline guarantees greater legal security, offering equal rules and procedural guarantees to all, such as the possibility of early customs clearance and permission to apply the full tax. This allows the taxation of the product to be lower than that applied in the taxation system on products imported from international electronic commerce.
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