Brazil: Pending tax measures include possible income tax, indirect tax changes

Tax proposals currently pending consideration include possible income tax, indirect tax changes

Pending tax measures include possible income tax, indirect tax changes

Several tax proposals are currently pending consideration in Brazil. 

  • Proposed income tax changes would, if enacted, revise the tax taxation of dividends, reduce the corporate tax rate, and make income tax changes for individuals.
  • Another proposal would replace the current system of indirect taxes (i.e., IPI, PIS, ICMS, COFINS, and ISS) with a new goods and services tax (Imposto sobre Bens e Serviços—IBS) or with a related indirect tax social contribution (Contribuição Social sobre Operações com Bens e Serviços—CBS).

Read a February 2022 report (Portuguese) prepared by the KPMG member firm in Brazil

 

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