Oito dicas para aprimorar a gestão fiscal da sua empresa antes da Black Friday

With Black Friday knocking on the door, retail and e-commerce need to redouble their attention to keep tax management in order. During this period, financial movement and transaction volume intensify, as a result, the need to pay more attention to tax obligations is greater. 

“Errors in tax calculation, delay in the release of documents and a lengthy tax flow lead to non-compliance with deadlines and obligations, which can result in fines and compromised cash flow, something unfavorable at a time when companies are focused on taking advantage of peak consumption with the greatest possible agility and assertiveness in their” launches, he says Adriana Karpovicz, Head of Large Account Sales at Qive, a platform responsible for managing tax documents of more than 150 thousand companies in Brazil. 

To help entrepreneurs navigate this scenario, the expert has put together eight essential tips that can improve the tax management of your company and ensure that, in addition to sales success, companies also keep their financial health intact.

1. Anticipate in the tax organization

The period before Black Friday is interesting to review how the company's tax organization is. It is necessary to take into account the particularities of Black Friday, such as discounts and promotions, which can impact the tax calculation base. For smaller companies, this is even more crucial, since the margin for errors and financial unforeseen events can be more impactful to the results. It is important to check if the management systems are prepared for the increase in sales volume and if the tax information is correct. Making a brief training of the team to deal with the increase in demand and issue tax notes correctly can also be positive Keep the tax notes in order and also facilitates the tax collection and the exit of taxes.

2. Monitor current legislation

Tax rules may change throughout the year, and being up to date is critical. Track changes that may impact the taxation of online or physical sales during Black Friday.Small businesses and e-commerce businesses should pay special attention to changes in taxes such as ICMS and ISS, which may vary by region. 

3. Attention to installment and tax conditions

Offering installments is common during Black Friday, but you must remember that taxes are collected on the invoice issuance, regardless of the term payment. Therefore, you need to consider the cash flow in planning in order not to compromise the financial health of the business with long-term installments.

4. Reinforce documentation and archiving

Organize all tax documents generated in this period: invoices, receipts and proof of payment of taxes. This facilitates the accountability and future audits.For SMEs, which often operate with small teams, this organization can avoid legal complications and rework.

5. Conduct internal audits

Before the start of Black Friday, consider conducting internal audits to review tax processes and ensure that there are no pending or failures that could result in penalties. This care is even more relevant for physical retail companies, which tend to handle a high amount of tax documents during the period. Create processes to have efficient inventory control and thus avoid taxation problems. Ensuring that products are properly registered is essential to avoid differences in tax calculation. Keep inventory up to date and track the entry and exit of goods to align billing to actual inventory.

6. Plan cash flow accurately

The increase in Black Friday sales is an opportunity to increase cash, but taxes can consume part of this result. Keep a clear forecast of taxes that must be paid in the following months, to avoid surprises and ensure a positive balance after the period of promotions.

7. Take advantage of tax incentives and tax regimes

Research and take advantage of potential tax incentives that could benefit your business during Black Friday.Small businesses opting for Simples Nacional, for example, can benefit from a simplified taxation regime, while large retailers can seek state or federal incentives to ease the tax burden.

8. Use of tax management technologies 

Adopting technologies is critical to ensure efficient tax management. Digital tools such as management software automate processes such as invoice issuance, tax calculation and inventory control, virtually cancelling the possibility of errors, missed payment deadlines and issuing invoices with incorrect information. In addition, integrated e-commerce and payment platforms help monitor sales in real time, ensuring that all operations comply with tax requirements. The use of technologies simplifies management and manual errors, allowing the entrepreneur to focus on sales strategies during Black Friday.