Brazil Gazettes Complementary Law on Tax Reform 2025

The Brazilian Official Gazette Jan. 16 published Complementary Law No. 214, reforming the national tax regime by consolidating a range of federal, state, and municipal indirect taxes, among other changes. The law includes measures: 1) providing refunds of social contributions on goods and services tax (CBS) and goods and services tax (IBS) to low-income families for essential services; 2) enabling large companies processing recyclable materials to reduce taxes payable using certain CBS and IBS credits; 3) establishing various sector-specific tax regimes, allowing various expense deductions for financial institutions, maintaining tax rates for banks from 2027 to 2033, and exempting investment ...