Details of the Tax Reform proposal finally delivered to Congress

BRAZIL POLITICS - Report 22 Jul 2020 by Murillo de Aragão and Cristiano Noronha

The government sent the first Tax Reform proposal to Congress yesterday, July 21. This first phase includes the unification of the PIS and Cofins taxes, creating the Social Contribution on Operations with Goods and Services – CBS. The second phase includes changes to the income tax for individuals and companies. The third includes payroll tax exemptions and the creation of a tax on electronic transactions. In this report, we review the details of the upcoming analysis of the bill that creates the CBS in Congress.

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