The proposals are divided into four bills and three provisional measures, one of which has already been approved
247 – The federal government is committed to balancing the public accounts by 2024, and for that reason, it is preparing a package of measures to boost tax collection – and most proposals will need congressional approval. a Information It’s from O Globo.
Last week, the government’s leader in the Chamber of Deputies, José Guimarães (PT-CE), projected a potential increase of up to R$205 billion through proposals, divided into four bills and three temporary measures, one of which has already received approval. The following are the mentioned initiatives:
- Sports betting taxes: Congress is evaluating a bill and a provisional measure sent by the government, both of which relate to this issue. Its collection is expected to range between R$2 billion to R$12 billion. The date for the council vote is still undetermined.
- CarveThe bill, which went through a lengthy process of negotiation in the House of Representatives, returns decision-making power to the government in the Administrative Board of Tax Appeals (CARF), an administrative body of the Federal Revenue Service. The projected revenue for next year is about R$60 billion. The bill is under consideration in the Senate and is scheduled to be put to a vote next week.
- taxes abroad: After understanding with the Council, it is scheduled to send to Congress a bill aimed at imposing a tax on foreign funds (investments abroad, often in tax havens). The government expects to raise 3 billion Brazilian reals with this procedure.
- JCP (equity interest): The government intends to amend the approach of the Job Creation Program through a bill, with the possibility of raising R$ 6 billion. JCP is a means of distributing profits to shareholders, providing tax benefits to the distributing company. The proposal aims to change the possibilities of withholding related to this practice.
- Exclusive funds: It is planned to introduce a temporary measure (MP) to reformulate taxes on exclusive funds (which will be taxed at the moment of quota-eater, which occurs twice a year, and not only on redemption). The estimate is to raise about R$10 billion.
- ICMS and support: Based on a decision of the Supreme Court of Justice (STJ), the government is entitled to levy fees on IRPJ and CSLL on incentives granted by states through ICMS, when these subsidies are for business costs, not for investments. An interim procedure is being prepared to deal with the matter, allowing companies to regularize their positions. It is expected to raise R$80 billion to R$90 billion in total revenue.
- Already approvedThe interim measure, which establishes a new regulatory framework for transfer pricing between multinational companies, has the potential to generate between R$20 billion and R$30 billion in the next year. However, regulation of the law will be necessary to achieve these results. The deputy has already agreed.
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