Small Brazilian businesses are preparing for significant changes with the Tax Reform. According to the Omie Survey of Small Businesses, Omie research, cloud management platform (ERP), recently conducted with 285 leaders of CNPJs opting for Simples Nacional, 65% of the ears, among CEOs, directors, partners, managers and entrepreneurs believe that the new rules will directly affect their businesses
While 26% of respondents do not know how to assess the impact of the reform, only 9% believe that it will not have an influence on their daily lives. For the economist Felipe Beraldi, manager of Indicators and Economic Studies at Omie, changes bring opportunities, but also challenges. Especially in understanding the changes and the deadlines for adaptation
"The research showed that 59% of entrepreneurs know that the main change will be the creation of the Value Added Tax (VAT) and the elimination of tax cumulative", explain Beraldi. The VAT aims to unify five taxes – ICMS, ISS, IPI, PIS and Cofins – in a single charge, contributing to greater transparency and simplification of collection
Despite the expectation of simplification, Beraldi warns that the process will be complex. Companies need to start preparing and adapting to changes. The sooner they understand the new rules of the Reform, it will be easier to reassess the cash flow, working capital, tax regime, supply chain and prices, affirms.
The transition to the new tax system will be gradual. The implementation starts in 2026 and continues until 2033, when will the Tax Reform be fully in effect. During this period, there will be a coexistence regime between the current system and the new one, what will require the attention of managers and their accountants.
"Although the reform promises to simplify tax management in the long term and reduce distortions", in the short term, it is certain that this duplicity will generate a great increase in complexity, what will require significant changes in the internal processes of any business, especially from small businesses, affirms Marcelo Lombardo, co-founder and CEO of Omie
Besides the challenges, the reform can represent a great opportunity for accounting professionals, whose roles become even more strategic during the implementation of the new rules. Not by chance, the research revealed that 75% of small businesses believe that the accountant will be essential at this time. The research also reinforces the need for more effective communication, to ensure that the updates on the reform reach entrepreneurs clearly and quickly
With the Tax Reform in effect, small businesses, that represent 99% of Brazilian companies and are responsible for more than 27% of GDP and more than 70% of formal jobs, will face a challenging adaptation period. The success of this transition will depend, largely, of the ability of SMEs to adapt to the rules and the strategic guidance of accountants
65% of small businesses anticipate impacts from the Tax Reform
