Joint Commission installed in Brazilian Congress to analyze Tax Reform
Senator Roberto Rocha (PSDB-MA) was appointed to chair the commission. He is the rapporteur for the proposed amendment to the Constitution Amendment (PEC) 110/2019, presented in July last year by Senator Davi Alcolumbre – this PEC is ready for voting in the Senate Constitution and Justice Commission (CCJ).
Deputy Aguinaldo Ribeiro (PP-PB) was chosen as the committee’s rapporteur. He is already a rapporteur for tax reform in the special commission in the House of Representatives that analyzes PEC 45/2019.
The proposals are, in summary, the following:
1) PEC 45/2019 (from House of Representatives): The text of the PEC ends with five taxes, three federals: IPI, PIS and COFINS, one state (ICMS), and one municipal (ISS). In their place, the Tax on Goods and Services – IBS will be created, which is the responsibility of municipalities, states and the Union. The text also adds competence to the Federal Union to institute selective taxes, with extra-fiscal purposes, designed to discourage the consumption of certain goods, services or rights. According to the justification of the proposal, “the IBS will have the characteristics of a good value added tax (VAT), a model adopted by the most countries for taxing the consumption of goods and services.” In total, the transition period will be fifty years.
2) PEC 293/2004 (PEC 110/2019, from the Senate): PEC 110/2019 is an initiative of party leaders and its first signatory is the president of the Senate, supported by another 65 senators. The text is based on PEC 293/2004, already approved by a special commission of the House of Representatives in December last year. The proposal was approved in the form of a substitute (alternative text) in the special committee dealing with the topic. The text extinguishes nine federal taxes (IPI, IOF, CSLL, PIS/Pasep, COFINS, Salário-Educação and CIDE Combustíveis), ICMS (state) and ISS (municipal). In their place, a state-based tax on added value, called the Tax on Transactions with Goods and Services (IBS), and a Federal Selective Tax will be created. The proposal foresees a transition period for the new system, which will last 15 years.
Both proposals foresee a phase of coexistence of the old system with the new, in which the first one disappears to make way for the second.
More information: reginaldo.santos@correiadasilva.com.br
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Advisory and Tax Litigation Nucleus
Category: CONSULTATIVE AND ECONOMIC LITIGATION, Reginaldo Angelo dos Santos, TAXATION
Tags: correia dasilva advogados, csa, braziliantaxreformPosted in: 21/02/2020
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