A provisional measure established a 15% tax on profits of multinational companies, the STF discusses whether international treaties can prevent the imposition of the IRPJ and CSLL taxes, and the municipal elections will be held on Sunday

BRAZIL POLITICS - Report 04 Oct 2024 by Murillo de Aragão and Cristiano Noronha

A provisional measure was published in a special edition of the Federal Official Gazette that establishes an effective tax rate of 15% on the profits of multinational companies. The tax rate applies to companies with an annual revenue of at least 750 million euros (R$ 4.5 billion). Today, the Supreme Federal Court (STF) begins hearings to determine whether international treaties signed by Brazil prevent the imposition of Corporate Income Tax (IRPJ) and CSLL on the profits of foreign companies controlled by a Brazilian company. The trial will run until October 11. The first round of voting for mayors and city council members will take place on Sunday. According to available polling data from the 26 state capitals, the election may be decided in 11 cities on Sunday. Sixteen others are expected to have a runoff.

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