Tag results for 'Brazilian tax system; transfer pricing rules; tax reform; government incentives; CARF; tax debts; infrastructure debenture; state VAT rate'

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Overview of recent updates to Brazilian tax legislation

The year 2023 brought significant changes to the Brazilian tax landscape, including, among others, the approval of a tax reform encompassing the taxation of consumption, the introduction of new taxes (IBS, CBS and IS) and the abolishment of others (PIS, COFINS, IPI, ICMS and ISS), as well as the alignment of the Brazilian transfer pricing rules with the Organisation for Economic Co-operation and Development’s (OECD) Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations through the conversion of Provisional Measure No. 1,152/2022 into Law No. 14,596/2023. This article provides a brief summary on the key changes from the past year and early 2024.

Released on Feb 20, 2024

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