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An overview by Demarest, Taxand Brazil
Brazil’s 2025 tax reform will bring major changes, shifting taxation from origin to destination and phasing out ICMS tax benefits by 2033. This will impact logistics, requiring businesses to reassess plant and distribution centre locations. The reform also involves the creation of the Goods and Services Tax (IBS), the Social Contribution on Goods and Services (CBS), and the Selective Tax (IS), as well as various newly regulated provisions, are expected to impact multiple sectors.
Tax experts from our Brazilian member firm Demarest have compiled a practical guide designed to companies navigate the updates introduced by the Tax Reform supplementary bill. Among their recommendations is the mapping and identification of PIS/COFINS and ICMS credits, given the limitations on their recognition and use until these taxes are extinguished.
You can read the full guide here.
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