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An overview by Demarest, Taxand Brazil
The Brazilian government has recently signed into law the Provisional Measure No. 1,262/24, incorporating certain aspects of the Organization for Economic Cooperation and Development (OECD)’s GloBE Rules into Brazilian tax legislation No. 15,079/24. The Federal Revenue Office had previously regulated the new rules in October through IN RFB No. 2,228/24.
Tax experts from our Brazilian member firm Demarest have created a guide summarising the key tax topics under discussion in the measure, which can be read here. They encourage clients to carefully evaluate the implications of Law No. 15,079/24 and its regulations to understand the potential effects on their tax burden and compliance with additional obligations, especially since the new rules will come into effect in the fiscal year 2025.
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