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Brazil`s Next Stop: Tax Reform

The fiscal team of the Brazilian government has started to prepare for its next challenge in Congress: the reform of the highly complex tax system which is experts consider the greatest obstacle for investments and economic growth in Brazil.     Planned Changes According to the government`s draft, the first change is ending the taxation…

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Brazil: 1200 businesses warned because of missing EFD Reports

The Ministry of Finance of Mato Grosse (SEFAZ-MT) reported 1.200 taxpayers that have not submitted their EFD reports between September and December of 2018. Because of the irregularities, about R$ 30 in ICMS revenues (tax on goods and services moved across state lines) were missing. This is also due to the fact that the ICMS…

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Brazil: Group 1 enters the last phase of eSocial

The SST (Segurança e Saúde do Trabalhador no Brasil) is a public system aimed at collecting information about the security and health of employees. In order to collect these onformation they have to be submitted to eSocial. In line with the official requirements, all companies belonging to Group 1 (revenue of more than 78 Million…

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Deadlines for Rais Report 2018 ends April 5th, 2019

The deadline for submitting the annual Social Information Report (RAIS) 2018 ends on April 5th, 2019. Those who do not submit the report on time or incorrectly, risk fines ranging from R$ 425,64 until R$ 42,641.00 (ca. 100 bis 10.000 Euro) depending on the time of submission and the number of registered employees. Currently, more…

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New FCP regulation in Paraíba

FCP is a Fund against Poverty which is aimed at minimizing the consequences of social inequality between the Brazilian states. The FCP rate ranges depending on the product or service between 1% and 4%. The FCP is collected as part of the ICMS tax on the movement of goods and services. The ICMS tax itself…

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Brazil: eSocial and DCTFWeb replace GFIP, GRF and FGTS starting April 2019

In order to remain compliant with the requirements of the Brazilian Ministry of Finance, the following changes concerning eSocial and DCTFWeb have to be implemented starting April 2019:   eSocial Information concerning the social security contributions have previously been collected through GFIP, GRF, and FGTS. GFIP is a guideline for collecting FGTS (information about the…

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Brazil and Sweden sign Changelog for Double Taxation Treaty

On March 19th, 2019, Brazil and Sweden signed a changelog for the double taxation treaty the two countries signed in 1975. The goal of the changelog is to promote mutually productive investment flows and strengthen the bilateral trade ties. At the same time, the changelog aims to address illegal tax planning and improper use of…

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Brazil and Mexico: Free Trade in Automotive Sector

Since Tuesday, March 19th, a new free trade agreement for vehicles and car parts is in place between Brazil and Mexico. Consequently, car manufacturers residing in both countries can now import and export their products without the previously installed quotas and import taxes.   The previous quota regulation Both countries formed a trade agreement in…

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Brazil: Centralized GTIN Registry

What is GTIN and how does it affect your business? GTIN is short for „Global Item Numbering” and enables a common product numbering which keeps companies from using their own individual numbering system. The uniformity of the product numbers is important in order for state institutions (specifically financial and tax authorities) to be able to…

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