A series of recent developments in Brazil have revealed the outline of a major reform of its VAT regime and digital requirements for businesses trading in the country.
In July, the Brazilian Chamber of Deputies approved a proposed constitutional amendment that would see a new dual VAT system launched.
Last week, a key update to a suggested statute relating to e-invoicing was published, revealing a number of changes that will lead Brazil to a unified system for issuing tax documents.
Here we take a look at both proposals and how they could combine to trigger one of the most significant reforms of any country’s indirect tax system of recent decades.
1) VAT rates overhaul
2) Updates to e-invoicing
What does this mean for businesses in Brazil?
Source: Innovate Tax
