Brazilian Government issued Provisional Measure 1159/23, which removes from the PIS and COFINS calculation basis, the value of ICMS (State VAT) levied on the sale of goods or services.
The provisional measure #1,159/23 changes the Laws #10,637/2002 and #10,833/2003, that establishes general rules on Social Integration Program (Programa de Integração Social – PIS) and Social Contribution on Revenues (Contribuição para o Financiamento da Seguridade Social – COFINS), determining that State VAT would be excluded from the calculation basis of the social contributions.
Source: dlapiper.com
