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Key data (Brazil)

Information up to date as at 1 September 2024, applicable in the city of São Paulo.

Note: Tax reforms were approved in Brazil in December 2023. The current state and municipal goods and services taxes (ICMS and ISS) are to be replaced by a single tax on goods and services (Imposto sobre Bens e Serviços, IBS). The federal social contributions on revenues (PIS and COFINS) will be replaced by a federal contribution on goods and services (Contribuição sobre Bens e Serviços, CBS), and a new 'selective' tax (Imposto Seletivo, IS) will be introduced on goods and services that are considered to be harmful for health and the environment, replacing the current federal excise tax on manufactured goods (IPI). The reforms are intended to simplify the tax system, improve inefficiencies and prevent fraud and tax evasion in Brazil. The changes are expected to be implemented in stages during 2026