States are criticizing the VAT measure of the Tax Reform proposal, the STF should vote on the case regarding taxing the operating income of financial institutions, and the CPMI is expected to vote on invitation requests

BRAZIL POLITICS - Report 09 Jun 2023 by Murillo de Aragão and Cristiano Noronha

Ten states took a stand against the new Value Added Tax (VAT). According to the guidelines approved by the Working Group of the House, a federal and a state VAT will be created. In the state VAT, which will be the Tax on Goods and Services (IBS), there would be shared management between states and municipalities, without the participation of the Federal Government. On Monday, the Supreme Federal Court (STF) may conclude the virtual judgment on the incidence of the PIS and Cofins taxes on the operating income of financial institutions. Justice Ricardo Lewandowski understood that they should not be levied. Justice Dias Toffoli, on the other hand, disagreed. On Tuesday, June 13, the Joint Parliamentary Committee of Inquiry (CPMI) on the January 8 attacks meets to vote on invitation requests.

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