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Government Reacts To The ‘Case Of The Century’ And Excludes State VAT (ICMS) From Basis Of PIS/COFINS Credits

The first controversial point of the new law concerns the exclusion of the State VAT (ICMS) from the basis for the credits of the contributions to PIS and COFINS (register of credits related to inputs to be offset against the PIS/COFINS due on the revenues). This provision was already included in the original text of Provisional Measure No. 1,159/2023 and had been widely discussed since.

Source: klalaw.com.br

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