São Paulo retailers begin to exchange banknote issuers from 01/07


As of this Wednesday (1), the mandatory exchange of the system of issuing and transmitting invoices to retailers in the State of São Paulo begins.
The former ECF (Tax Coupon Issuer), which issue the note on tax paper, will gradually be replaced by the SAT (Electronic Tax Coupon Authenticator and Transmitter System), which require a digital signature and automate the transmission of banknotes to the government.
The change is mainly aimed at making tax evasion more difficult. “By receiving the bills electronically, the government is able to monitor the establishments and improve the crossing of tax information”, says Araquen Pa-go o, president of the Brazilian Association of Commercial Automation.

Any store that starts operating after Wednesday will have to adopt the system - this is also true for new business branches that already exist. Companies with annual sales of R $ 120 thousand or more will have to replace their ECF equipment with five years of use until October (see box). Even those who already use the electronic invoice (NFC-e), which sends the notes through an application, need to have at least one SAT in their store, to be able to continue issuing the documents even when the internet fails.

Source: Folha de SP (01/07)