Daily Tax Report ®

Brazil’s Tax Reform Will Have Four Steps, Secretary Says: Estado

Nov. 18, 2019, 11:03 AM

A new package of measures to change Brazil’s tax system is expected to be sent to Congress in four steps that should extend until mid 2020, O Estado de S. Paulo reports citing an interview with tax secretary Jose Barroso Tostes Neto.

  • Phase one, to be submitted by end of November, will involve unifying two indirect taxes known as PIS and Cofins into a new one called Contribution on Goods and Services.
  • Phase two, scheduled for early 2020, will be to change the industrial products tax, or IPI, which should be applied to a determined number of products.
  • The...
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