Importing is an operation that adds a lot to Brazilian companies and is becoming more and more part of their daily lives.
For this reason, it is necessary to comply with the parameters required in the release of the goods and understand the step by step of the correct issuance of documents, such as the import invoice, for example. It was in order to clarify the most important points about this fiscal document that we wrote the following article, follow it with us.
What is the Import Invoice?
The import invoice is the document that certifies the nationalization of the products and is intended to record the effective entry of the goods in the company's stock.
It is in this document that all items that were imported, cleared and from that moment onwards can be considered part of the importing company's inventory will be listed.
What Comes Before Import Invoices?
It can be said that the import invoice ends the foreign purchase process, that is, it is preceded by some other documents.
Before it, shipping documents are issued, such as the Commercial Invoice, the Packing List and the international bill of lading (BL or AWB), import licenses (when required) and the Import Declaration (DI).
Shipping documents are the basis of commercial negotiation with abroad, they show the value of the merchandise in foreign currency, the payment method, the Incoterm and other commercial details. Based on this information, the nationalization process begins.
To issue the DI, the customs agent uses this initial information and begins the nationalization process. At that time, the conversion of values to the national currency is carried out, detailed descriptions are assembled in Portuguese and import taxes are collected (II, IPI, PIS, COFINS, ICMS...) according to the type of product and its NCM .
When to issue the Import Invoice?
As it is a document that attests to the nationalization and effective entry of the product into the company's stock, the import invoice should only be issued after the goods have been cleared, that is, after the Federal Revenue Service releases the cargo from the enclosure. bonded by issuing the Import Receipt (CI).
If the importing company issues the invoice before its time and, for some reason, the IRS does not definitively authorize the nationalization, it will have a product in stock that does not actually exist and may still suffer sanctions in the fiscal and accounting scope.
What Values Appear on the Import Invoice?
The main value that appears on the import invoice is the products themselves. This value is calculated as follows: cost of the merchandise (already converted into national currency) plus the shipping agency, freight and international insurance and import tax.
Other federal taxes also appear, such as IPI, PIS and COFINS, ICMS and ICMS ST (if any) and other nationalization expenses (Additional on Freight for Renewal of the Merchant Marine (AFRMM), in case of processes in the maritime modal, and Siscomex rate).
The total invoice amount will then be the sum of the total products + federal and state taxes + nationalization expenses.
Precautions in Issuing the Import Invoice
The first precaution when issuing the note is to check if the values are in accordance with reality, that is, if they are similar to what was stated in the DI. If this does not happen, the importing company may have problems at the time of its accounting and tax reconciliation.
Furthermore, it is necessary to correctly indicate the nature of the transaction through the definition of the CFOP. The import of machinery for the composition of fixed assets has a different code than an import of raw material for industrialization, for example.
Finally, but also very important, it is interesting to consult the accounts to confirm that the score is correct, since generally the credits to which the company is entitled (depending on its contribution profile) are accounted for through its issuance.
If the tax indication is wrong on the invoice, it will also be wrong on the account statement and correcting this will be a problem.
The correct issuance of the import invoice requires knowledge and some care, it is recommended to have the support of someone who has experience in this procedure so that there are no problems in this final phase of nationalization. If your company is thinking about importing, but needs technical support to do so, contact us. It will be a pleasure to help you!