Partner Ana Claudia Akie Utumi talked to Valor Econômico newspaper about the substitution of the federal excise tax (IPI), the federal social contributions on revenues (PIS and COFINS), the state VAT (ICMS), and also the municipal service tax (ISS) with one single federal VAT – the goods and services tax (Imposto Único sobre Bens e Serviços – IBS). The possibility has been discussed in the Brazilian Tax Reform and would align the Brazilian tax system with the global tax system.
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