In a Provisional Measure, Brazil introduced significant constraints for Brazilian taxpayers seeking to monetize value-added tax (VAT) credits. The Provisional Measure only allows taxpayers to use VAT credits to offset their PIS/COFINS (Program of Social Integration/Contribution for the Financing of Social Security) liability.
Source EY
Latest Posts in "Brazil"
- Brazil Enacts Second Law to Implement Dual VAT System, Replacing Multiple Taxes by 2033
- Brazil Launches Automated Split Payment VAT System to Combat Fraud and Modernize Tax Collection
- Minas Gerais Mandates Accreditation for Fuel Retailer Invoice Software Starting February 2026
- Brazil Implements Dual VAT: New Law Details Governance, Compliance, and Sector-Specific Tax Rules
- Brazil Adopts Dual VAT System: Key Amendments Clarify Compliance and Sector-Specific Indirect Tax Rules
