Deduction of the Social Integration Program Contribution (PIS) and the Social Security Financing Contribution (COFINS) may take up to 5 years under the tax balance Provisional Presidential Decree (MP)

10 June 2024

Large exporting companies, mainly in the soybean, animal protein, mining, and fuel distribution sectors, holding Social Integration Program Contribution (PIS) and Social Security Financing Contribution (COFINS) credits to be offset, may take up to 5 years to deduct all credits under Provisional Presidential Decree (MP) No. 1,227 governing tax balance. Different sectors are challenging the MP, calling it a decade-long setback.

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Deduction of the Social Integration Program Contribution (PIS) and the Social Security Financing Contribution (COFINS) may take up to 5 years under the tax balance Provisional Presidential Decree (MP)

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