Tax & Accounting Blog

Brazil – Mandatory Information on Invoices

Blog, Indirect Tax, ONESOURCE, Reuters Business News January 16, 2015

Brazilian consumers pay a few different taxes when they buy goods and services, but the taxes are not listed on the sales receipt. Starting in January 2015, Brazilian consumers will have a little more information.  In accordance with the law 12.741 of 2012, it will be mandatory for business to show approximate value of all taxes on sales receipts issued to consumers.

The taxes which must be computed are:  ICMS, ISS, IPI, IOF, PIS, COFINS and CIDE.

Law 12.741 of 2012

Art. 1st Invoices Issued on the occasion of the sale of consumer goods and services, nationwide, must contain the tax or equivalent documents, the information corresponding to the approximate value of all federal, state and municipal taxes, the incidence of which influences the formation of their selling prices.