Accounting for foreign trade companies?

Do you know how accounting for foreign trade companies works and how important it is?

 

 

Accounting is an essential tool for any business, but its relevance is even greater for companies that operate beyond the borders of their country of origin, and are involved in a number of tax and customs complexities.

 

For this reason, well-structured accounting is not just a competitive advantage, but a fundamental necessity for the smooth running of businesses.

 

To find out more about the role of specialized accounting in this segment, read the article to the end.

 

 

 

What is foreign trade?

 

O foreign trade is the exchange of goods, services and capital between different countries. This exchange can involve exporting products and services from one country to another or importing goods and services from other countries.

 

Foreign trade is fundamental to the global economy, as it allows countries to obtain resources, goods and services that they don't have or don't produce efficiently internally.

 

Check out some important items in foreign trade:

 

• Export: The sale of goods and services produced in one country to consumers in other countries.

• Import: Purchase of goods and services produced in other countries for domestic consumption.

• Trade balance: The difference between the value of a country's exports and imports. When the value of exports is greater than that of imports, we have a surplus. If not, we have a deficit.

 

How important are foreign trade companies to the economy?

 

The foreign trade companies are fundamental to the global and national economy. They facilitate the exchange of goods and services between countries, promoting economic growth, innovation and worldwide integration.

 

These companies organize and manage the international transport of goods, dealing with the logistical complexity of sending products across borders and ensuring that they reach their destination efficiently and safely.

 

The presence of these companies generates direct jobs in sectors such as transportation, logistics, international marketing and support services, as well as promoting indirect employment in industries that supply products for export.

 

To export to multiple countriesAs a result, companies reduce their dependence on the domestic market, mitigating risks associated with local economic fluctuations, which provides greater financial stability and opportunities for continued growth.

 

On the other hand, importing products, inputs and technologies from other countries allows companies to improve the quality of their products, increase productivity and innovate, increasing their competitiveness in both domestic and foreign markets.

 

The role of accounting for foreign trade companies

 

The role of accounting for foreign trade companies is essential, because it is an item that offers all the support necessary for these organizations to keep their obligations up to date with the tax authorities and save on tax payments.

 

Among the various services provided by an accounting firm, we can highlight the following:

 

Legalization:

• Company formation;
• Closure of companies;
• Changes in general;
• Issuing Municipal Registration;
• Issue of State Registration;
• Regularization of companies;
• Issuing certificates;
• Issuance of operating permits;
• Setting up a branch in other states;
• Among other legalization services.

 

Personnel department:

• Hiring employees
• Communication of Accident at Work - CAT;
• Sending information to eSocial and DCTFWeb;
• Payroll preparation;
• Updating work cards;
• Updating employee registration forms;
• Pro-Labore calculation;
• Vacation notice and receipt;
• Termination of employment contracts;
• Communication of vacation and collective leave.

 

Tax department:

• DCTF - Declaration of Federal Tax Debts and Credits;
• SPED FISCAL - Digital Tax Bookkeeping;
• SPED Contributions;
• EFD-REINF - Digital Tax Bookkeeping of Withholdings and Other Tax Information;
• DEFIS - Socioeconomic and Tax Information Statement;
• Tax bookkeeping;
• Tax assessment;
• Tax planning;
• Among other items.

 

Accounting department:

• Digital Bookkeeping - ECD;
• Tax Accounting Bookkeeping - ECF;
• Balance sheets and trial balances;
• Bookkeeping of accounting movements;
• Income Statement - DRE;
• Among other important items.

 

Faced with so many obligations to fulfill, it is very important that each and every business for the export and import market, count on the advice of an accounting firm for foreign trade companies.

 

Accounting for foreign trade companies and tax planning

 

Without a doubt, one of the most important pillars of accounting for foreign trade companies is the tax planning.

 

In view of the large number of legal provisions and the complexity of tax legislation which involves buying and selling operations on the international market, having the support of a Specialized accounting can make all the difference.

 

With good tax planning, foreign trade companies are able to pay less tax legally, enjoying benefits such as greater competitiveness and profitability.

 

What is tax planning and how important is it?

 

O tax planning is the set of strategies and practices adopted by a company to organize and manage its tax obligations efficiently, with the aim of minimizing the tax burden.

 

This process involves a detailed analysis of tax laws, the identification of opportunities to save taxes and the implementation of measures that allow you to take advantage of these benefits correctly and ethically.

 

The main objectives of tax planning includelet us highlight:

 

• Reducing the tax burden: Identifying solutions to reduce the amount of taxes paid, taking advantage of tax incentives, deductions and exemptions provided for in the legislation.

• Mitigation of fiscal risks: Ensuring compliance with tax laws and regulations to avoid tax penalties and disputes.

• Investment planning: Evaluation of the fiscal impact of different investment and financing options in order to choose the most efficient one.

• Choice of tax regime: Selection of the most appropriate tax regime for the company (Simples Nacional, Lucro Presumido or Lucro Real) based on an analysis of the company's income and expenditure structure.

 

Accounting for foreign trade companies is with CLM Controller

 

A CLM Controller is the ideal partner for foreign trade companies seeking excellence and efficiency in accounting management.

 

With extensive experience in the market and a team of highly qualified specialists, we offer customized solutions that meet the specific needs of companies operating internationally.

 

We understand that accounting for foreign trade is complex and involves unique challenges, such as managing exchange rate variations, complying with international tax regulations and optimizing logistics costs.

 

That's why we offer complete and integrated services that guarantee the accuracy and compliance needed for the success of your global operation.

 

To find out more and learn more about our services, click on the WhatsApp button and contact us!