Tipalti to support Argentina and Brazil suppliers

Tipalti, a provider supplier payments automation, claims that this enables all businesses engaging with suppliers and partners in those countries to ensure tax compliance by recording tax information for those payees. In addition, by validating a supplier’s tax information, it can reduce the risk of fraudulent payments to those countries.

Through Tipalti’s self-service portal, suppliers provide their contact and banking information. Supplier data is validated using over 26,000 global remittance rules to eliminate payment issues and suppliers then also provide their tax identification in order to be payable. That data is validated and stored for the payer and accessible at any time, from anywhere through Tipalti’s cloud platform.

Accounts payable tax compliance capability is seamlessly integrated within Tipalti’s end-to-end supplier payments platform, allowing finance departments to automate their entire accounts payable workflow, from supplier onboarding to tax and regulatory compliance, invoice processing, global supplier remittance, proactive payment status communications, and payment reconciliation and AP financial reporting.

For Brazilian suppliers, Tipalti verifies state and municipal codes for an individual (CPF) or corporation (CNPJ) matches the payee’s name. For Argentine suppliers, Tipalti verifies state and municipal code for an individual (CUIT) or corporation (CUIL) matches the payee’s name.

Additionally, to support the US Foreign Accounts Tax Compliance Act (FATCA), Tipalti released a software update last year for US-based companies that walks international suppliers through the challenging process of choosing the correct Internal Revenue Service tax form and then collects and validates form data through a digitized form experience including electronic signature.