The Brazilian government is considering several proposals to reform their indirect tax system, widely considered to be one of the most complex in the world. One such proposal is being crafted by the Special Commission on Tax Reform within the Chamber of Representatives. The Commission is proposing the introduction of a value added tax to replace the state-level ICMS, the municipal ISS and the federal PIS and COFINS. The federal IPI would likewise be replaced by a national excise tax. The details of this project have not been released to the public, but the discussion is expected to start in earnest in April.
The post Tax Reform Proposals in Brazil – The VAT Alternative appeared first on Sovos.