Chamber approved bill regulating tax reform
Last Wednesday (July 10), the Chamber of Deputies approved Complementary Bill No. 68/24 (“PLP 68/2024”), which regulates the Tax Reform. The bill will now be sent to the Federal Senate for analysis and voting. The Tax Reform, as per the approved bill, will change several aspects of the country’s tax scenario, including the […]
JUCESP authorizes non-resident foreigner to manage company in Brazil
At the end of last year, JUCESP authorized the registration of non-resident foreigners to manage companies in Brazil. Although there has been legal provision since 2021 by Law 14,195, there is still some resistance to the appointment of these people as administrators, given the lack of updating of registration systems and the lack of knowledge of the process before […]
STF will resume trial on the exclusion of ISS from the PIS and COFINS calculation basis
The Brazilian Supreme Federal Court (STF) has scheduled for August 28, 2024, the in-person trial of Theme No. 118 of General Repercussion, which discusses the exclusion of ISS from the calculation basis of the contribution destined to the Social Integration Program (PIS) and the Contribution for the Financing of Social Security (COFINS). This thesis, […]
Federal Revenue regulates DIRBI, an additional obligation for companies with tax benefits
On June 17, 2024, the Federal Revenue Service, through Normative Instruction (IN) No. 2,198/2024, regulated the Declaration of Incentives, Waivers, Benefits and Immunities of a Tax Nature (Dirbi), which consists of an accessory obligation established by art. 2 of Provisional Measure No. 1,227/2024 to gather information on federal taxes that were not […]
1st Panel of the STJ decides that expenses with bank correspondents are part of the PIS/COFINS basis
Last week, the 1st Panel of the Superior Court of Justice, in the judgment of AREsp No. 2.001.082, established that expenses incurred by financial institutions with banking correspondents should be included in the calculation basis for PIS and COFINS. Regarding the context of the discussion, taxpayers claim that expenses with the hiring of banking correspondents […]
STF defines modulation of effects of the third vacation
Last Wednesday, 06/12/2024, the Federal Supreme Court (“STF”) determined that the incidence of social security contributions on the constitutional third of vacations will only occur after the date of publication of the minutes of the judgment on the merits of the discussion, which occurred on 09/15/2020, except for contributions already paid and not challenged in court until said date, which […]
CVM Changes Rules Related to Shareholders’ Meetings
On June 4, 2024, the Brazilian Securities and Exchange Commission (CVM) published Resolution No. 204, changing the rules for participation and voting in digital, in-person or hybrid meetings of corporations, encouraging shareholder participation in corporate meetings. Despite expanding the use of remote voting, […]
MP 1,227/2024: limitation on the use of PIS/COFINS credits
On June 4, 2024, Provisional Measure (“MP”) 1,227/2024 was published, which, among other measures, limited the hypotheses for offsetting taxes administered by the Brazilian Federal Revenue Service, and also brought about the revocation of hypotheses for reimbursement and offsetting of credit balances and presumed credits of non-cumulative PIS and COFINS contributions. The […]
Establishment of the São Paulo Plan in the Right Direction
On May 23, 2024, the Government of the State of São Paulo published Decree No. 68,538/2024, which instituted the São Paulo in the Right Direction Plan, establishing guidelines that aim at “expanding investment, efficiency of public spending, reducing current expenses and modernizing the state Public Administration”. In this context, it is worth highlighting […]
STF will be able to define the ISS in the PIS and COFINS calculation base
Due to the cancellation of the request for a highlight made by Minister Min. Luiz Fux on May 23, 2024, General Repercussion Theme No. 118, which deals with the incidence of ISS in the calculation basis of PIS and COFINS, may once again be scheduled by the STF plenary for virtual judgment. The judgment of […]