EU: BASIC countries express concern at the proposed Carbon Border Adjustment Mechanism
A Joint Statement issued on 8 April 2021 at the conclusion of the 30th BASIC Ministerial Meeting on Climate Change has expressed concern about the insufficiency and inadequacy of the support provided by developed countries; and is concerned that
See MoreBrazil: Revenue sets thresholds for simplified tax regime in 2021
On 18 November 2020, the Revenue published an Ordinance No. 30 of 18 November 2020, setting the revenue limits for the purpose of paying state tax on the sale of goods, interstate and inter-municipal transportation and communication services (ICMS)
See MoreBrazil: Government submits a Bill to introduce a special tax arbitration process
On 3 September 2020, the Bill No. 4468/2020, was published in Senate to introduce a special tax arbitration procedure. The Bill proposed that during the time of tax audit, this special tax arbitration process would be available to deal with tax
See MoreBrazil: Chamber of Deputies considers new draft Bill regarding digital service tax
On 19 August 2020, a Bill 218/2020, the social contribution on digital services (CSSD), was submitted and considered by the Chamber of Deputies, which provides the introduction of digital service tax (DST). Previously, On 4 May 2020, Mr. João
See MoreOECD and Brazil: Call for Input on Safe Harbours and Simplification Issues
On 30 July 2020 the OECD and Brazil jointly launched a survey looking for comments on the development of safe harbours and other simplification measures. OECD and Brazil The survey is part of a project begun in February 2018 to review the
See MoreBrazil: Bill proposes different COFINS tax regime in COVID-19 pandemic
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
See MoreBrazil: Government extends the installment terms of tax deadlines for small business
On 18 May 2020, the Ministry of Economy published a Resolution No. 155 of 15 May 2020 to extend the deadlines for tax installments due in May, June, and July 2020 within the scope of the simplified (Simples Nacional) regime up to the last business
See MoreBrazil: Ministry of Economy extends the installment terms of tax deadlines
On 12 May 2020, the Ministry of Economy announced an extension of the deadlines for tax installments due in May, June, and July 2020 up to the last business days of August, October and December 2020. The extended dates are provided by Ordinance No.
See MoreBrazil: A draft Bill published to introduce digital service tax
On 4 May 2020, Mr. João Maia, a Brazilian politician and Brazilian Congressman, proposed a Bill no. 2358/2020 to introduce the digital service tax (DST) and was submitted it in the Chamber of Deputies. The proposed tax, known as the contribution
See MoreBrazil: Latest status of tax relief measures in response to COVID-19 pandemic
On 3 April 2020, the Government published Resolution No. 154 of 3 April 2020 in the Official Gazette, which extends the payments deadlines for taxes and social security contributions for taxpayers under the Simples Nacional regime due to
See MoreBrazil: Senate approves Decree amid COVID-19 pandemic
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
See MoreBrazil: Federal Revenue encourages taxpayers to make comments on CbC reporting
On 13 February 2020, the Department of Federal Revenue encouraged the taxpayers or multinational enterprises to give comments regarding country-by-country (CbC) reports for public consultation documents arranged by the OECD up to 6 March 2020. This
See MoreOECD: Report on Transfer Pricing in Brazil
On 18 December 2019 the OECD issued a report entitled Transfer Pricing in Brazil: Towards Convergence with the OECD Standard. This examines the differences between Brazil’s transfer pricing rules and the OECD transfer pricing guidelines with a
See MoreBrazil: Tax Dispute Resolution Peer Review Report
On 28 November 2019 the OECD published a stage 1 peer review report on Brazil’s compliance with the minimum standard on tax dispute resolution under Action 14 of the project on base erosion and profit shifting (BEPS). The peer review report
See MoreBrazil: Federal Revenue approves Private Ruling 276/2019
On 2 October 2019, the Brazilian tax authorities released a private ruling PLR 276/2019 on tax treatment of cross-border cost sharing arrangements. The ruling provides a consultation solution that was requested by an entity whose direct parent
See MoreBrazil: Federal representatives publishes their comments under PEC 45/2019
On 11 September 2019, the representatives of all federal States submitted their comments on the tax reform proposal under the Bill for Amendment of the Constitution 45/2019 (PEC 45/2019). This proposed amendment seeks to promote a comprehensive
See MoreOECD and Brazil: Report on project to align transfer pricing rules with OECD standards
On 7 July 2019 the OECD and Brazil’s tax administration (RFB) published a report on the results of the work programme launched in February 2018 to analyse Brazil's transfer pricing framework and the similarities and divergences between the
See MoreBrazil updates its blacklist removing San Marino
On 28 June 2019, The Department of Federal Revenue (RFB) of Brazil has published Normative Instructions No. 1896 of 27 June 2019 in the official gazette amending Normative Instructions Nº 1037. Through the instruction RFB removes San Marino from
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