Tax & Accounting Blog

Brazil Increases PIS and COFINS on Imports

Brazil Increases PIS and COFINS on Imports

Blog, Indirect Tax February 3, 2015

On Jan 30, 2015, the Brazilian federal government published Medida Provisória (provisional measure) 668/2015, which increases the rates of PIS (Programa de Integração Social) and COFINS (Contribuição para o Financiamento da Seguridade Social) on the importation of goods. The measure includes increases on both the standard rate and the schedule of product-based reduced rates for … Read More

Brazil Increases Value Added Tax on Gasoline

Brazil Increases Value Added Tax on Gasoline

As commodity prices in the energy industry have fallen globally, the government of Brazil has responded by lightening indirect tax incentives on petroleum based consumer products. In the decree 8.395 of 2015, the federal government of Brazil has announced that the CIDE (Contribuição de Intervenção no Domínio Econômico) for gasoline and diesel fuels will return … Read More