Future Fuel Law is enacted, marking a key step in the energy transition
The new law drives the use of sustainable fuels, regulating carbon capture technologies, and promoting the transition to a low-carbon energy matrix.
New rule on State Tax on Goods and Services (ICMS) credits may reignite tax war
A new agreement of the National Council of Fiscal Policy (Confaz) on the State Tax on Goods and Services (ICMS) makes optional – and no longer mandatory – the transfer of credits when goods are moved between places of business of the same taxpayer. Although demanded by companies, this flexibility has a price: if the company chooses to keep the credits in the State of origin, it risks not being able to fully use them.
Low-Carbon Hydrogen Development Program will allow tax credits offsetting
On September 30, 2024, Law No. 14,990, of September 27, 2024, entered into force, providing for the Low-Carbon Hydrogen Development Program (PHBC). The Low Carbon Hydrogen Development Program (PHBC) had been vetoed by the President when Law No. 14,948, of August 2, 2024, was enacted, as analyzed in the Informa of August 13, 2024 and in the Newsletter of the same month.
The National Council of Fiscal Policy (Confaz) overturns the requirement to transfer State Tax on Goods and Services (ICMS) credit in interstate transaction
The National Council of Fiscal Policy (Confaz) published an agreement putting an end to the requirement to transfer credits of the State Tax on Goods and Services (ICMS) in interstate transfers of goods between places of business of the same owner. In practice, this means that taxpayers will be able to use the credits at the place of origin or transfer them to the place of destination at their convenience.
Broad legal: Agreement confirms that companies can transfer State Tax on Goods and Services (ICMS) credits to the destination State
The National Council of Fiscal Policy (Confaz) published a supplementary regulation (technically, an agreement) stating that companies can transfer State Tax on Goods and Services (ICMS) credits to the destination State when goods are moved between places of business of the same owner. This is because the Federal Supreme Court (STF) had already ruled that the transfer of goods from one State to another is not considered an ICMS taxable event if it involves the same National Register of Corporate Taxpayers (CNPJ).
Provisional Presidential Decree (MP) 1,262/24 published: Adoption of Pillar 2 and Additional Social Contribution on Profits (CSLL)
On October 3, 2024, the Federal Government published Provisional Presidential Decree 1,262/24 (MP 1,262), which establishes an additional Social Contribution on Profits (CSLL) equivalent to the so-called Qualified Domestic Minimum Top-up Tax (QDMTT). On the same date, Regulation No. 2,228/2024 (IN 2,228) regulating the subject was published.
Changes in offshore taxation and wealth planning
One of the most discussed topics during the 2024 Annual Individual Income Tax Return (DIRPF) filing season was foreign investments—especially the tax rule changes introduced by Law 14,754/2023.
Law changes criteria for adjusting judicial and extrajudicial deposits involving the Federal Government
Among other topics, the recently enacted Law No. 14,973/2024 changed the rules applicable to deposits made in administrative or judicial proceedings involving the Federal Government or any of its agencies. It revoked Law No. 9,703/1998, which until then had provided for judicial and extrajudicial deposits of federal taxes and contributions.
