Lira’s party goes to the Supreme Court against Provisional Presidential Decree (MP) on Social Integration Program Contribution (PIS) and Social Security Financing Contribution (COFINS)
The crisis triggered by a provisional measure limiting the productive sector’s use of accumulated Social Integration Program Contribution (PIS) and Social Security Financing Contribution (COFINS) credits escalated on Monday, June 10, with a lawsuit filed by the PP, the party of House Speaker Arthur Lira (PP-AL), at the Federal Supreme Court (STF).
Limitation on the use of Social Integration Program Contribution (PIS) and Social Security Financing Contribution (COFINS) credits frustrates the agribusiness and industrial sectors
The government’s decision to limit the use of Social Integration Program Contribution (PIS) and Social Security Financing Contribution (COFINS) credits to offset taxes has disappointed agribusiness and industrial sector entrepreneurs.
Offshore wealth adjustments must be assessed on a case-by-case basis
The race for Brazilian taxpayers with financial assets, properties, and income abroad to choose the tax treatment for their family wealth under the new framework established by Law 14,754 ended on Friday.
Criminal aspects of tax reform
After 30 years of debate, Constitutional Amendment No. 132/2023 was enacted in December 2023, providing for Brazil’s tax system reform. The reform aims to simplify tax collection by merging the State Tax on Goods and Services (ICMS), Municipal Tax on Services (ISS), Tax on Industrialized Products (IPI), Social Integration Program Contribution (PIS), and Social Security Financing Contribution (COFINS) into a single tax, split between federal and state/municipal levels.
Residents of the State of Rio Grande do Sul will have an extended deadline to update foreign assets in their Income Tax return
Residents of 399 cities in Rio Grande do Sul, currently under a state of emergency or public calamity due to the rains, now have more time to update the value of their foreign assets in their 2024 Income Tax return.
London is no longer the same. Billionaires look for alternatives
The government of the United Kingdom recently announced the end of a long-standing tax exemption that benefited wealthy foreign residents, catching millionaires and billionaires who had chosen the country to live and manage their assets by surprise.
CESCON BARRIEU Advogados promotes event on excise tax
On May 27 at 10 a.m., the law firm Cescon Barrieu Advogados will host Universidade de São Paulo (USP) law professor José Maria Arruda de Andrade for a discussion on the Brazilian excise tax within the tax reform, analyzing everything from the constitutional text to the Federal Government’s bill.
The government’s proposal for tax credits is well-regarded but raises questions
One of the key proposals in the Federal Government’s tax reform regulation bill, presented to Congress last week, is the option to collect future taxes (CBS and IBS) at the financial settlement of the transaction—the so-called split payment.
