Recently, the Senate proposed through the Complementary Bill 131/2020 different tax regime for the Contribution to the Financing of Social Security (COFINS) levied on the gross revenue earned by legal entities with high revenue using digital platforms. Brazilian companies have to pay 7.6% COFINS tax. The Bill proposed a 10.6% of COFINS tax for companies, which have revenues earned from digital activities, like electronic communications and digital interface. The will be submitted to all legislative processes before being approved and enacted.
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