A major overhaul of Brazil’s taxation system has been approved by the country’s Senate in a move that will see five existing taxes replaced with two new indirect taxes and a significant simplification of its tax code.
In an historic vote last Wednesday (8th November), the Senate voted by 53 to 24 in favour of implementing the wide-ranging proposal from Luiz Inacio Lula da Silva’s government. However, it must still be ratified by the House in a further vote in which it will require a 60% majority in order to be enshrined in law.
Source Innovate Tax
Latest Posts in "Brazil"
- Brazil Enacts Law Creating IBS Management Committee, Launching Centralized Tax System Under 2026 Reform
- Brazil Introduces Personalised VAT Cashback for Low-Income Families
- Brazil’s 2026–32 VAT Reform: Targeted Cashback Relief for Low-Income Households via Digital Refunds
- São Paulo and Alagoas Overhaul VAT (ICMS) Regimes Effective April 2026: Key Changes Announced
- Brazil’s Nationwide Software Fiscalization and E-Commerce Invoicing: Rules, Compliance, and Consumer Protection
