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An overview by Demarest, Taxand Brazil
The Brazilian government has recently published Supplementary Law No. 227/2026, which is set to advance Brazil’s consumption tax reform by establishing the Goods and Services Tax Management Committee (CGIBS) to centralise IBS collection, administration, and interpretation across states and municipalities.
It defines transition mechanisms for phasing out ICMS by 2033, including the use, transfer, or reimbursement of existing credits, sets general standards for ITCMD, and vetoes provisions deemed likely to increase disputes, with phased implementation requiring early compliance planning by businesses.
Experts from our Brazilian member firm, Demarest, have published a more detailed overview of the new law, which can be read here.
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