On 16 December 2023, the House of Representatives approved the bill of Tax Reform, based on PEC 45 (Constitutional Amendment Bill), in the final round after the Senate’s approval.
The final wording was published on 21 December 2023 (Constitutional Amendment No 132/23).
On 12 June 2023, the Rio de Janeiro Municipality enacted Law number 7,907/2023 (the so-called “Neutral ISS Law”) to promote the development of carbon credits market involving Rio de Janeiro taxpayers and encourage the reduction of greenhouse gas emissions.
On 11 March 2022, Supplementary Law #192 introduced the single-stage ICMS tax regime on transactions involving fuels. This new law aims to reduce the final customer’s tax burden on transactions involving the following fuels: gasoline, anhydrous ethanol fuel, diesel, biodiesel, liquefied petroleum gas and natural gas. Moreover, Supplementary Law #192 temporally reduces to zero the PIS and COFINS rates on transactions involving the above-mentioned fuels until 31 December 2022, without affecting the accrual of credits.
On 3 August 2021, Congressman Celso Sabino (PSDB-PA) submitted an amendment to Bill of Law # 2,337/2021, putting forward a 1.5% increase in the Financial Compensation for the Exploration of Mineral Resources rate on iron, cooper, bauxite, gold, manganese, kaolin and nickel operations.
On 4 May 2021, the General Attorney’s Office of the Municipality of Rio de Janeiro enacted Resolution No. 1.052/2021, introducing a new amnesty program (“Resolve Rio”). The Resolve Rio program allows taxpayers to settle their debts with the Rio de Janeiro Municipality through reductions in interest, punitive fines and late payment fees of up to 60%.
As the energy, mining and infrastructure industry in Latin America looks ahead to the new year, we present the Latin America EMI Hot Topics Guides for 2021 to facilitate discussions about the key trends we see in each sector. We invite you to read the guides to learn more about…
As the energy, mining and infrastructure industry in Latin America looks ahead to the new year, we present the Latin America EMI Hot Topics Guides for 2021 to facilitate discussions about the key trends we see in each sector. We invite you to read the guides to learn more about…
On December 8th 2020, Brazilian General Customs Coordination enacted Ordinance COANA #85/2020, approving the REPETRO-Sped e-Manual and stating that the REPETRO “Q&A” Section shall have binding effects over the customs tax authorities and the regime beneficiaries, when expressly provided.
The Latin America energy, mining and infrastructure industry is transitioning to a New Normal. The evolving market conditions drive the need for new regulations and business strategies to be addressed by governments and multinational and local companies in the sector. We invite you to listen to our Latin America Energy,…