Another important aspect involving the taxation of business consortia is their operation for tax purposes. Despite compliance with the individualization of the tax liability of the consortium members, the consortium must maintain its own accounting records, recording the operations carried out by it at their full value, that is, by the sum of all the installments corresponding to each of the consortium members.
However, in addition to the gambling data pakistan consortium's bookkeeping, each of the consortium members remains responsible for individual accounting, and must demonstrate the exact proportion of their respective shares in the taxable events carried out by the consortium, using their own CNPJ.
Furthermore, another relevant point is the fact that consortia are not subject to the submission of tax returns, and therefore it is up to each consortium member, when submitting their respective returns, to include information regarding taxes and contributions relevant to the results obtained in proportion to each member's participation in the enterprise.
Regarding the issuance of invoices or bills, each consortium member may do so, in the same way that such invoices or bills may be issued in the name of the consortium/leading company, considering the following peculiarities:
- In the first case, the billing corresponding to the consortium's operations will be made through the issuance of a specific invoice or bill by each of the consortium's legal entities, adopting the general rule of proportionality of shares in the enterprise.