Brazil’s Ministry of Finance submitted the draft law for new indirect taxes to the National Congress on 24 April 2024. The law implements major tax reforms, replacing federal (PIS, COFINS, IPI), state (ICMS), and municipal (ISS) taxes with two new taxes: CBS and IBS. The draft law also includes details on the new federal selective tax (IS) and provides information on taxable events, tax payment, use of credits, and estimated tax rates.
Source Orbitax
Latest Posts in "Brazil"
- Brazil Publishes Supplementary Law No. 227/2026, Advancing Tax Reform and Establishing IBS Management Committee
- Brazil tax reform: Implementation phase goes live
- Brazil Enacts Law Creating IBS Management Committee, Launching Centralized Tax System Under 2026 Reform
- Brazil Publishes Law Advancing Second Phase of Consumption Tax Reform and IBS Administration
- Brazil Launches Dual-VAT Pilot, Paving Way for Major Indirect Tax Reform by 2032
