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Brazil: Update on tax relief measures (COVID-19)

Brazil: Update on tax relief measures (COVID-19)

Tax relief measures provided to taxpayers in Brazil in response to the coronavirus (COVID-19) pandemic include the following:

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  • Due date for social contributions owed by employers for March and April 2020 delayed to August and October 2020, respectively
  • Due date for social contributions known as PIS and COFINS* for March and April 2020 also delayed to August and October 2020, respectively
  • “Zero-rated” import tariffs for pharmaceutical and medical-hospital products
  • Reduction of excise tax (IPI) rates to 0% for products considered essential
  • Suspension for 90 days, certain deadlines related to administrative proceedings
  • Suspension until 30 April 2020 of federal administrative tax procedural deadlines

 

*PIS (programa de integração social) refers to an employees’ profit participation program and COFINS (contribuição para o financiamento da seguridade social) refers to a social contribution program for social security financing.

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