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
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