5 Major Developments in Brazil

• Brazil VAT – Doubts on 2023 Breakthrough Hopes

• Brazil VAT – new government promises progress on reforms

Importation

• Federal government reduces tax burden on the import of services

Intra-Community Transactions

• New Regulation for ICMS Tax on Interstate Transactions in Brazil

Rate

• Brazil modifies taxation of fuels and crude oil

• Provisional measure amends law on temporary 0% tax rate for tourism industry

Real Time Reporting/Continuous Transaction Controls

• Publication of the EFD ICMS IPI program version 3.0.3

Reporting / Compliance

• New version of the EFD ICMS IPI Practical Guide

• Brazil Tax Agency Releases Updated Version of Electronic Bookkeeping Platform for ICMS, IPI

• Publication of the EFD ICMS IPI program version 3.0.4

• Postponement of EFD-REINF Deadline for Events Referring to Withholding IRPF, CSLL, PIS and COFINS

• Expected Tax Changes In Brazil For 2023

• Tax Changes to Expect in Brazil for 2023

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

• Publication of the EFD ICMS IPI program version 3.0.2

• Brazilian Federal Revenue Service issues new PIS and COFINS Regulation

• Brazil announces tax recovery measures

• Possibility for retail traders to pay the ICMS due in installments for goods issued in December 2022

• Amendments to state-level sales tax (ICMS) (São Paulo)

• WTS VAT newsletter #4 2022

• Publication of the EFD ICMS IPI program version 3.0.1

Supply of Services

• Federal government reduces tax burden on the import of services

Taxable Amount

• Brazilian Government issued provisional measure changing PIS and COFINS calculation basis

Taxable Transaction

• Brazil’s Federal Supreme Court restarts analysis on imposition of ICMS on transfers between branches of same legal entity

• Normative ruling consolidates and provides new rules on PIS and COFINS

Tax authorities / Penalties

• Changes in tax disputes resolution system

Technology

• Brazil Tax Agency Releases Updated Version of Electronic Bookkeeping Platform for ICMS, IPI

Transfer Pricing

• Brazil’s new transfer pricing rules and their impact on customs valuation discussed