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Brazil Excludes State VAT (ICMS) from PIS/COFINS Contributions Basis

Brazil has published Provisional Measure No. 1.159 of 12 january 2023, which excludes state value added tax (ICMS) from the basis for calculating the Contribution for the Social Integration Program (PIS) and the Contribution for the Financing of Social Security (COFINS).

Source: Orbitax

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