On 18 March 2022, Brazil’s legislature removed a prior presidential veto on an article from Law 14,148/2021 that had introduced a 0% rate for corporate income taxes (IRPJ and CSLL) and federal gross revenue taxes (PIS and COFINS) for a five-year period for taxpayers in the tourism and events sector (e.g., hotels, cinemas, concerts, sporting and cultural events, travel agencies). As a result of the removal, this article has been re-included in Law 14,428/2021 and applies as from 18 March 2022.
Source Deloitte
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