Retailers are already implementing Big Data tools such as location intelligence and foot traffic analytics to understand consumer mobility patterns, measure foot traffic at each store, understand the performance of their outlets, and estimate competitor turnover.
A competitive analysis begins by defining the target and its scope, exploiting different sets of structured and unstructured data available thanks to innovative tools that help to identify and measure competing brands and estimate their sales.
With Big Data tools that help analyze large volumes of information like predictive models,location intelligence and mobility data, it's possible to generate a competitive analysis, which consists of identifying the main competing companies and estimating their turnover, quantifying their potential sales, identifying gaps in the market, predicting the cost of developing new products, discovering trends, among others.
During the state of health emergency in the country, taxpayers who cannot use tax equipment and billing systems because their shops or offices are closed will be exempt from using these tools.
Following the spread of covid-19 the General Directorate of Revenue (DGI) explained that businesses may stop using fiscal equipment and invoicing systems, however, these taxpayers are required to document their operations through equivalent reports such as manual or pre-printed invoices, thus complying with the formalities established by law.
With the aim of better publicizing the operation of the Single Declaration, it was agreed to postpone the entry into force of the document until May 7, 2019.
The entry into force of the Central American Single Declaration (DUCA) had initially been set for April 1, 2019.
From the statement of the Single Window for Exports of Guatemala:
March 28, 2019. The Customs Office of the Superintendency of Tax Administration (SAT) informs that the Council of Economic Ministers (COMIECO) in a meeting held on March 28, 2019 in Guatemala City, through Resolution No. 410-2019, agreed to postpone until May 7, 2019, the entry into force of the Central American Single Declaration (DUCA) which had been set for April 1, 2019.
In Panama, thirty companies from different sectors will be taking part in a pilot plan that the General Directorate of Revenues plans to implement during the first half of 2018.
The objective of the Directorate General of Revenue (DGI) is to test the system of the pilot program with the 30 companies that were offered it, and make the necessary adjustments before implementing mandatory compliance.
A free virtual seminar has been organized for July 4, on the topic of implementation of the Central American Single Declaration.
A free webinar organized by the Secretariat for Economic Integration (SIECA) entitled "Implementation of the Central American Single Declaration (DUCA)", and will be held online on July 4, from 9 am to 11 am.
Incorrect balances in the accounts of taxpayers are preventing the system from providing the "Paz y Salvo" (Safe and sound) certificate required for transactions with state institutions.
Companies claim that the appearance of false outstanding debts in their accounts has prevented them from receiving "...the "Paz y Salvo" document, needed to formalize the sale of land or businesses, collect payment when a company is a state supplier or participate in public tenders. "
Starting July 25 all tax returns must be made through the new digital system, e-Tax 2.0.
The resolution published in the official newspaper La Gaceta states that"... all taxpayers and users of the computer system e-Tax Tax 2.0 are given notice, that the only way to submit declarations is through the internet."
A contract has been awarded for the design and implementation of an electronic billing system that automates the process of reporting taxes and tax collection.
Through adirect recruitmentprocessthe Directorate General of Revenue (DGI by its initials in Spanish) has selected Centro Interamericano de Administraciones Tributarias (CIAT) to design and implement an electronic billing system for the country.
Prensa.com reports that "...The contract, published in PanamáCompra, is valued at 2.2 million dollars and seeks to "strengthen controls and fiscal intelligence aimed at reducing levels of non-compliance, tax evasion and fraud," according to a document signed by Publio Cortés, Director General of Revenue. "
Regarding the future of fiscal printers implemented during the Martinelli administration, Cortes told Prensa.com that"...'In other countries where the experiences of implementing electronic invoicing have been successful, fiscal equipment coexists with electronic invoicing, especially in those segments where controls on billing are more efficient through use of this equipment, such as sales to end consumers.Other countries have implemented a process of progressive replacement of equipment with electronic tax invoices.In the case of Panama, this decision must be evaluated in due course in order to determine what would be best according to the characteristics of the Panamanian market. ' "
Electronic invoices not only reduce operational and administrative costs but also produce better competitiveness among businesses by increasing fiscal transparency in the market.
The slow pace with which the process for establishing the mandatory use of electronic invoices in Costa Rica has been carried out has prevented companies and the treasury itself, from being more efficient, in the first case in terms of controls and in the second of the collection of taxes.
Preparations are being made for a billing system which will allow companies to file reports digitally and in real time, replacing the tax printers implemented by the Martinelli administration.
The DGI has announced to the private sector that the new system is intended to streamline sales reports to the Treasury by large enterprises, in addition to ending the "... complications caused by use of fiscal printers".
The Institute of Aqueducts and Sewers in Panama is putting out to tender meter reading services and distribution of bills in several provinces.
Panama Government Purchase 2015-2-66-0-99-LV-009 871:
"Recruitment for Meter Reading Service and Distribution of Bills, in Bocas del Toro, Chiriqui, Cocle, Herrera, Los Santos, Veraguas, Panama Metro, West Panama, Arraiján, East Panama and Darien and Colon, for thirty-six ( 36) months. "
From April 1st 2015 the only documents needed to send products to the Indian market will be the air declaration, the commercial invoice and bill of entry.
From a statement issued by the Costa Rican Foreign Trade Promotion Office (Procomer):
India has decided to simplify procedures for imports, which will reduce costs and time and aims to improve the country's position in the ease of doing business list produced by the World Bank.
With steady growth and reaching up to $1 billion a year, this financing mechanism is controlled by 24 companies, mostly banks.
Every year, the activity records growth of between 10% and 20%. "Using a factoring contract, a trader or manufacturer can assign an invoice or other credit document to a factoring company in exchange for a full or partial financial advance" explains an article in Panamaamerica.com.pa.
On Friday January 20th Resolution No. 201-940 was adopted, which extends the deadline for the recognition of tax credit for the purchase of fiscal equipment.
A statement from the Chamber of Commerce, Industries and Agriculture of Panama (CCIAP) reads states that “The CCIAP is calling on the corporate sector to apply the tax credit before the deadline.