- Brazil published Complementary Law No. 214 on January 16, 2025
- The law regulates the country’s indirect tax reform
- The law institutes the Tax on Goods and Services (IBS), the Social Contribution on Goods and Services (CBS), and the Selective Tax (IS)
- It creates the IBS Management Committee and amends tax legislation
- The IBS and CBS are based on the principle of neutrality to avoid distorting consumption decisions and economic activity organization
- The IBS and CBS apply to onerous operations with goods or services
Source: in.gov.br
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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