Brazil's Tax and Trade Policies under the Rousseff - Brazil-US ...
Brazil's Tax and Trade Policies under the Rousseff - Brazil-US ...
Brazil's Tax and Trade Policies under the Rousseff - Brazil-US ...
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<strong>Brazil</strong>ian Corporate <strong>Tax</strong>ation<strong>Tax</strong>ation on Revenues: PIS <strong>and</strong> COFINS• PIS <strong>and</strong> COFINS are levied on a monthly basis on <strong>the</strong> companies’ revenues calculated inaccordance with(i) a cumulative system at <strong>the</strong> rates of 0.65% (PIS) <strong>and</strong> 3% (regular rate of COFINS) or(ii) a non-cumulative system, at <strong>the</strong> rates of 1.65% (PIS) <strong>and</strong> 7.6% (COFINS), but <strong>the</strong>company is entitled to use PIS <strong>and</strong> COFINS credits with respect to certain costs <strong>and</strong>expenses authorized by law• Companies adopting Real Profit are subject to PIS <strong>and</strong> COFINS <strong>under</strong> <strong>the</strong> non-cumulativesystem whereas companies <strong>under</strong> <strong>the</strong> Presumed Profit are subject to PIS <strong>and</strong> COFINS <strong>under</strong><strong>the</strong> cumulative system• Revenues resulting from <strong>the</strong> sale of permanent assets are exempt from PIS <strong>and</strong> COFINS.Financial revenues generated by companies <strong>under</strong> <strong>the</strong> non-cumulative system are subject toa rate of zero, except for interest on net equity (juros sobre capital próprio)
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