In an interview with Finsiders Brasil, our partner Camila Tapias discussed the challenges that fintechs and Banking-as-a-Service companies face in adapting their systems to the tax reform.
According to the article, starting August 3, companies under the regular tax regime will be required to correctly fill out the new fields for the Goods and Services Tax (GST) and the Goods and Services Contribution (GSC) on electronic invoices. The change directly impacts infrastructure fintechs—which provide the technology that enables the issuance of these documents—as they must now review layouts, integrations, and configurations before the adaptation deadline expires.
According to Camila, “these companies typically handle a high volume of transactions and are tightly integrated with their clients’ business management systems, tax systems, and platforms. Therefore, any change in the format of tax documents requires significant adjustments in technology, testing, and validation.” This assessment underscores the urgency for companies in the sector to prepare, or risk compromising their collection, billing, and tax compliance processes.
