NFe 4.0 Introduces Unprecedented Product Traceability
NFe 4.0 ushers forth new requirements that make a new level of product tracking possible. Specifically, the SEFAZ, Brazil’s tax authority, requires companies subject to sanitary regulations or recall cases, as well as those that produce agricultural pesticides, veterinary products, dental products, medicines, beverages, bottled waters, food packaging, etc., to report:
- Date of Manufacture
- Expiration date
- Batch number
Brazil is integrating fiscal electronic documents conveying these details with its Brazil-ID tracking initiative, allowing the government to track the movement of goods all the way to the consumer (via NFCe, or final consumer invoices). In pursuit of Brazil-ID, the country has installed almost 100 license plate readers using OCR technology (Optical Character Recognition), and Brazil’s main highways include radio frequency (RFID) tracking. With these technologies, the country can conduct cargo inspections in motion – starting as soon as a shipment leaves – and has already registered more than 6.2 million transit events.
The benefits of this traceability go beyond the ability to easily track down recalled, contaminated or illegal goods. It also minimizes the resources needed to conduct inspections and curbs the use of illegitimate transit services.
Next Up: Google of Fiscal Goods
The information collected via Brazil’s e-invoices (NFe), combined with this superior product tracking initiative, is powering a new concept that the Brazilian government has deemed “Google of Fiscal Goods.” Armed with product specifications and knowing exactly when and where products were delivered, Brazilian authorities can leverage this data to power a more accurate, searchable, product database.
SEFAZ Paraná, for example, recently launched a “Lower Price” application in the Apple Store and Google Play, allowing consumers to search for products nearby. Similar apps certainly exist throughout the world – but with the SEFAZ’s level of visibility into manufacturing and shipments, none can achieve the same level of accuracy.
Through these initiatives, Brazil continues to set the bar for innovative, technology-based tax reporting measures. Watch out webinar replay, What You Need to Know for Brazil NFe 4.0 EFD-REINF and Upcoming Compliance Mandates, to learn more about the changes under NFe 4.0.
The post Brazil’s IoT Advancements Lead to “Google of Fiscal Goods” appeared first on Sovos Compliance.
About the Author
Gustavo Jimenez is the Product Marketing Manager for Sovos’ solutions in Latin America and is based in Atlanta, GA. Gustavo is responsible for go-to-market strategy for Sovos LatAm Reporting solutions in countries with existing and upcoming eReporting mandates. He has more than five years of experience in eInvoicing, middleware integrations, and regulatory research. He works closely with the product management and development team as well as sales and marketing to facilitate compliance process transformations for Sovos clients. Prior to joining Sovos, Gustavo was responsible for marketing activities and strategy at Invoiceware International, a leading eInvoicing solution for businesses with operations in Latin America. He focused on the go-to-market strategy of their solutions as well as communications with the LatAm market about regulatory changes and new solutions.More Content by Gustavo Jimenez