Publications
- Category: Tax
Provisory Law raises
Income Tax rate for capital gains earned by individuals and changes.
PRORELIT
Provisory Law No. 692, of September, 2015, amended Law No. 8,981/95 changing the current 15% Income Tax rate for individuals on capital gain to the following rates: 15% for gains until R$1 million, 20% for gains from R$1 million to R$5 million, 25% for gains from R$ 5 million to R$20 million and 30% for gains over R$20 million. This modification also applies to companies under Simples.
- Category: Tax
State of Rio de Janeiro approves friendly notification of charge before beginning a tax procedure
Law No. 6,884, of September 5th, 2014, amended Law No. 2,657/1996, which sets forth ICMS rules, in order to create a specific Section (Section VII-A Procedures without Loss of Spontaneity), related to the possibility that the State Revenue Service issue a friendly notification before beginning any tax procedure to impose penalties, for the taxpayer to regularize the obligation it had failed to comply with.
- Category: Tax
Optional regime concerning tax reduction on payroll and increase of rates of Social Security Contribution on Gross Revenue
On August 31st, 2015, Law No. 13,161 was enacted. Among other provisions, this law brings relevant amendments to the tax reduction on the payroll set forth in Law No. 12,546/2011. This new law makes optional the collection of social security contribution on gross revenue (Contribuição Previdenciária sobre a Receita Bruta - CPRB) for companies already subject to that regime.
- Category: Tax
PAY ATTENTION TO FATCA
On September 30th, 2015, the Brazilian Internal Revenue Service and the United States Internal Revenue Service will begin to exchange information on accounts held by Brazilian individuals and entities in the United States and information on accounts held by American individuals and entities in Brazil.
- Category: Tax
IN n. 1,658/2016: recent changes on Brazilian tax havens’ list
Normative Ruling n. 1,658, dated September 13th, 2016, published yesterday, amended Normative Ruling n. 1,037, dated June 4, 2010, which establishes the lists of low tax jurisdictions and privileged tax regimes.
- Category: Tax
Decree regulates the incidence of IPI on cigarettes
>Published on August 19 of this year and rectified on the 25th of the same month, Decree nº 7.555 regulated articles 14 to 20 of Provisional Measure nº 540, of August 02, 2011, providing for the applicability of the Import Duty levied on cigarettes containing tobacco, with the exception of the hand-made ones.