- Brazil published Complementary Law No. 214 on January 16, 2025
- Reforms aim to streamline tax system by replacing or consolidating existing indirect taxes
- Three federal taxes and one state value-added tax will be eliminated
- Two new taxes will be introduced: CBS and IBS
- A new Federal Selective Tax (IS) will target goods and services harmful to public health and the environment
- New taxes will be phased in by 2026 and fully implemented by 2033
- Chamber of Deputies approved law regulating indirect tax reform
- Constitutional Amendment No. 132 introduced major indirect tax reforms
Source: regfollower.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.
