Source: ETCO

The Brazilian Institute of Ethics in Competition - ETCO and the Government of the State of Rio Grande do Sul today sign a term of support for the implementation of the Electronic Invoice project of Confaz / Encat. The ceremony will take place at 15 pm, in the Governor's Office, in the Piratini Palace.

Last year, the ETCO Board of Directors began negotiating an agreement with the State Government of Rio Grande do Sul for the implantation of electronic invoices in other states, using Procergs technology. The partnership with the State Government will be executed through the Secretariat of Finance and Procergs. Currently, Rio Grande do Sul accounts for 56% of the electronic notes issued in the country.

For André Franco Montoro Filho, executive president of ETCO, electronic invoices are an effective means of simplifying tax collection, allowing greater control of tax evasion and reducing bureaucracy. "The implementation of the Electronic Invoice will certainly represent a great improvement of the Brazilian collection system", concludes the president of the institute.
The liquid fuel distribution sectors and cigarette manufacturers will be the first to adopt it, as of April 1, 2008, in 23 states, including São Paulo, Rio Grande do Sul, Rio de Janeiro Janeiro and Minas Gerais. The drug and beverage sectors are among the next to be required to issue the document.

For ETCO, the Electronic Invoice is considered the white flag in the fiscal war. It is an indispensable tool for seeking consensus on tax reform capable of meeting the demands and peculiarities of all states. The control allowed by the Electronic Invoice opens the way for the simplification of the Brazilian system and for the reduction of the tax burden. The Electronic Invoice allows to identify how much each State loses or gains with the change in the collection of ICMS.

ETCO
Founded in 2003, the Brazilian Institute of Ethics in Competition is a civil society organization of public interest -OSCIP- which brings together companies and non-governmental business entities with the aim of promoting improvements in the business environment and stimulating actions to avoid competitive imbalances caused by tax evasion, informality, forgery and other misconduct. In a broader view, to make society aware of the social harms of unethical practices and their negative effects on the country's growth.