5 Major Developments in Brazil

5 Major Developments in Brazil

• Brazil VAT implementation update

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

• Supreme Court Defines Payment Location for Health Insurance and Financial Companies’ Service Tax (ISS

• Federal Superior Court of Justice Examines ICMS-ST Refund Rules Amidst Controversy

• President of the Chamber of Deputies meets with state governors in an attempt to secure a consensus on reform of Brazil’s indirect tax system

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Bookkeeping

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

Deduction (Input Tax Credit)

• Supreme Court Suspends Nationwide Cases on Exclusion of ICMS Presumed Credits from PIS/COFINS Calculation Basis

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

E-Commerce / Electronic Services

• Brazil plans ‘digital tax’ on shipments from e-commerce giants

E-invoicing

• NF-e – Mandatory electronic invoicing system in Brazil

• NF3-e Mandatory Implementation Postponed in Espírito Santo and Santa Catarina

• Introduction of the single-phase ICMS for Gasoil and LPG was postponed to May 1, 2023

• Compliance update: Brazil postpones the mandatory issue of NFS-e by Individual Microentrepreneurs

• Postponement of the mandatory implementation of NF3-e in São Paulo

• NF3-e Mandatory Implementation Postponed in São Paulo

• Brazil – Nota Fiscal Electronica Deadline Update

• New NFCom Taxpayer Manuals v.1.00a Published

• Brazil Electronic Invoice E-Invoicing Update

• State of Espírito Santo Postpones NF3-e Obligation

Implementation / Reform

• Brazil unveils VAT implementation proposal

• Brazil unveils compensation funds in proposed tax reform

• President of the Chamber of Deputies meets with state governors in an attempt to secure a consensus on reform of Brazil’s indirect tax system

• Brazil VAT implementation update

• Brazil lawmakers propose reforms combining consumption taxes

Place of Supply

• Supreme Court Defines Payment Location for Health Insurance and Financial Companies’ Service Tax (ISS

Refund

• Federal Superior Court of Justice Examines ICMS-ST Refund Rules Amidst Controversy

Reporting / Compliance

• Brazil Govt Sees Ruling on ICMS Tax as Effective Immediately

Technology

• MM: IPI Exclusion from PIS and COFINS tax base

• Mm: exclusion of IPI from the base of the PIS and Cofins

TOGC (Transfer of a Going Concern)

• ICMS on certain transfers of goods unconstitutional as from 2024

Webinar/Event/Podcast

• Edicom Webinar – NFS-e National Standard in Brazil (June 13, 2023)

• Edicom Webinar – NFS-e National Standard in Brazil (June 13, 2023)