On 20 March 2020, the Senate approved a presidential decree declaring a national emergency over the coronavirus epidemic. According to that Decree, the federal taxes payments for companies under the Small Companies Tax Regime (Simples Nacional) are to be extended for the months of March, April and May of 2020. Also, the mandatory contributions to the Severance Assistance Fund (FGTS) have been suspended up to May 2020 and will be paid in up to six monthly installments, starting from July 2020.s of March, April and May of 2020. Also, the Ministry declares that there is no import duty applies for specified medicine supplies up to 30 September 2020.
Related Posts
Brazil extends consultation on Pillar Two top-up tax for social contribution
November 12, 2024
Brazil's tax authority has announced on 4 November 2024 that it has extended the public consultation period regarding Normative Instruction No. 2.228 of October 3, 2024 which regulates the Additional Social Contribution on Net Profit (CSLL),
Read More
Brazil announces new layout for VAT, excise tax returns
November 06, 2024
Brazil’s tax authorities have revised the layout for the monthly returns for the value-added tax (ICMS) and excise tax (IPI) on 5 November 2024. This updated layout features modifications to validation rules, inclusion of new fields, and
Read More
IMF: Labour Market Participation in Latin America
November 01, 2024
On 25 October 2024 the IMF launched the latest Regional Economic Outlook for the Western Hemisphere. A background paper to the report with the title Closing the Gap: Labor Market Participation in Latin America examined ways to increase labour force
Read More Brazil grants tax exemption for countries with major investments
October 24, 2024
Brazil now allows countries to seek exclusion from being classified as offering favorable taxation or a privileged tax regime if they make significant investments in Brazil, helping national development, starting 18 October 2024, issued in Decree
Read More Brazil, Iceland sign tax treaty
October 21, 2024
Brazil and Iceland have signed a new tax treaty on 14 October 2024. The agreement will introduce several key provisions, including a principal purpose test and a limitation on benefits clause. It also addresses fiscally transparent entities,
Read More Brazil consults Qualified Domestic Minimum Top-Up Tax
October 14, 2024
Brazil’s Federal Revenue Service has initiated a public consultation regarding the additional social contribution to net profits (Contribuição Social Para o Lucro Líquido, CSLL). The consultation will be open from 4 October to 10 November,
Read More