Brazilian Senator presented a report on the analysis of Provisional Measure 675 (MP 675) regarding new social contribution on net profits (CSLL) rate and elimination of interest on net equity on 12 August 2015.
MP 675: Tax rate (CSLL) increased from 15% to 20% for financial institution and this rate will be valid for September at least.
Interest: According to the new proposal, Interest on Net Equity (INE) will be gradually reduced 50% in 2016 and 25% in 2017, in order that it will be completely eliminated in 2018.