- Brazilian Government to table regulations in Congress for new federal and state-level value-added taxes
- Legislation to establish federal VAT (CBS) and state-level VAT (IBS)
- New VAT regime to replace social security contributions PIS and Cofins
- IBS and selective tax to replace IPI, ICMS, and ISS
- IBS and CBS to be introduced at reduced rates in 2026, fully replacing PIS/Cofins in 2027
- ICMS and ISS to be phased out starting in 2029, abolished by 2033
- Regulations to govern administration, collection, and enforcement of levies, clarify taxable events, scope of taxation, place of supply rules, calculation, special schemes, revenue division among states, and rates.
Source: answerconnect.cch.com
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.
