60% of companies have already reported errors in the issuance of tax invoices.

Errors in the issuance of tax invoices can lead to fines, improper tax collection, and even issues with the Tax Authority.

A survey conducted between August 21 and October 31 revealed that 60% of companies admit to having issued tax invoices with errors. The research, carried out by IOB, involved 103 companies and highlighted the challenges businesses face in tax management. Another 15% of respondents were unsure whether they had issued documents with mistakes.

The importance of correctly issuing tax invoices

Issuing tax invoices correctly is essential to ensure tax compliance and the security of commercial operations. However, it is a task that requires attention, as it involves tax legislation and technical specifications. Errors, such as incorrect product classification or imprecise tax calculations, can result in fines and penalties, as well as affect the company’s financial health.

Profile of participants and their roles

Among the respondents, 81.55% are owners or responsible for issuing tax invoices. The research revealed that:

• 59.5% are business owners;
• 15.5% act as managers or coordinators;
• 8.3% are directors;
• 7.14% are analysts;
• 9.52% hold other positions.

The professionals’ experience was also assessed:

• 29.8% have 4 to 10 years of experience;
• 27.4% have been in the field for 11 to 20 years;
• 22.6% have up to 3 years of experience;
• 20.2% have over 21 years of experience.

Sectors and company sizes

The research showed that the most represented sectors were:

• Commerce: 44.21%;
• Industry: 13%;
• Clothing/textile: 5.95%;
• Civil construction: 4.76%;
• Food: 4.76%;
• Other sectors: 21.37%.

Regarding company size, the majority are microenterprises (53.57%), followed by small businesses (39.28%), medium-sized companies (5.95%), and large corporations (1.19%).

Tax regime and review frequency

Among the tax regimes:

• 65.5% operate under Simples Nacional;
• 14.3% follow Lucro Presumido;
• 10.7% are under Lucro Real;
• 9.52% are MEIs.

Regarding the review of tax data:

• 44% check the information only at the time of issuance;
• 33.33% review before issuance;
• 10.71% review every three months;
• 7.14% conduct monthly reviews;
• 4.76% review biweekly.

Impacts of tax errors

The study reflects the results of a previous IOB survey, which indicated that over 70% of companies issue tax invoices with inconsistent tax information. These errors often lead to over- or under-collection of taxes, directly impacting financial management and tax compliance.

Conclusion

Errors in issuing tax invoices can have serious consequences for companies, ranging from financial penalties to tax issues that jeopardize the business’s health. To avoid these mistakes and ensure compliance with tax legislation, partnering with an experienced accounting firm is crucial. Conmax, an accounting office in Fortaleza and São Paulo, provides specialized support in tax and fiscal management, helping your company avoid losses and optimize processes. With Conmax by your side, your business reduces risks, stays compliant with the Tax Authority, and focuses on sustainable growth.

Contact us and find out how we can assist you!