income tax
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Chamber passes income tax overhaul
The Chamber of Deputies rejected Thursday almost all the parties’ amendments to the Income Tax overhaul. This way, it passed the bill reported by Deputy Celso Sabino (Social Democratic Party, PSDB, Pará). The only amendment approved, proposed b...
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Income tax reform will hinder traditional planning
The income tax reform bill, submitted to Congress by the federal government, prevents or hinders the adoption of at least nine practices common today in companies, which result in the reduction of taxes and contributions to be paid. In the stock mark...
- Notes on United States individual income tax
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Income Tax of Portuguese Listed Companies in Financial and Corporate Social Responsibility Reports.
1 Introduction Tax, fair share, transparency and tax avoidance issues have been increasingly debated over recent years. Tax and base erosion and profit shifting (BEPS) are constantly on the agenda of the Group of Twenty (G20), the Organisation for ...
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Income tax on PGBL and VGBL pension plans: analysis of progressive and regressive forms of taxation.
1 Introduction In several countries studied by the World Bank (Holzmann et al., 2005), the main incentive to voluntarily pay into private pension plans compared to other traditional investments is that they are tax-favored arrangements. This is the ...
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Congress reduces income tax on aircraft leasing to zero
The ministries of Infrastructure and Tourism will push for the presidential enactment of a bill recently passed by Congress that brings back to zero the income tax charged from airlines over aircraft leases. Legislators changed a portion of provision...
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Government gives in to private sector, reduces business income tax
Under harsh criticism from companies and the financial market, the federal government revamped the income tax overhaul and proposed on Tuesday a drastic cut in the rate levied on corporate profits, which would fall to 15% in 2022 and 12.5% the follow...
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Income tax for offshores may be proposed in August
Pressured by the need to increase revenues to meet the goal of zeroing the fiscal deficit by 2024, Finance minister Fernando Haddad wants to bring forward to August at least two items of the Income Tax reform: the taxation of offshore funds and exclu...
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Lula extends income tax exemption for low paid workers
President Lula said Wednesday that the government will exempt those earning up to two times the minimum wage from paying income tax. The change, according to him, will be made to adjust to the increase in the minimum wage."With the increase in the mi...
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Bolsonaro vetoes income-tax exemption on aircraft leases
President Jair Bolsonaro has vetoed a section of law 14,002, which changed the status of tourism body Embratur to a federal agency from an institute, that had eliminated the income tax on aircraft and jet engine leases. The Economy Ministry had advoc...
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Government extends income tax exemption to more workers, pensioners
The federal government published on Tuesday (6) a provisional presidential decree increasing the income tax exemption for individuals earning up to two times the minimum wage per month, equivalent to R$2,824. As a result, 15.8 million Brazilians will...
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Courts reduce income tax on IPO gains
A tax thesis has emerged along with a new wave of initial public offerings in Brazil. Companies have asked federal courts to apply a flat 15% income tax rate on gains obtained in IPOs. There are at least two injunctions in favor of taxpayers, prevent...
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O Direito Social à moradia como limite à incidência do ITCD sobre imóveis de famílias carentes / The social right to housing as a limit on assessment of the ITCD tax on low-income family residential properties
Os direitos sociais foram capitulados como direitos fundamentais pela Constituição. Nesse sentido, torna-se importante delimitar certo conteúdo de eficácia jurídica aos seus preceitos. Especificamente quanto ao direito social à moradia, embora seja bastante controvertido seu conteúdo eficacial mínimo sob a ótica prestacional, não se apresentam as mesmas dificuldades quando o assunto é seu viés...
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Tax overhaul makes family holding companies less attractive
The income tax overhaul proposal makes it less advantageous to adopt a family holding company for estate and succession planning. There will be an increase in ...
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Reform will tax multinationals, change interests on net equity
The income tax reform that the federal government will send to Congress by mid-March is expected to include an effective minimum tax of 15% on the profits of ...
- Brazilian Federal Government Increases The Income Tax Rates
- Prohibition On The Offset Of Corporate Income Tax Anticipation Debts
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Brazil’s tax authority sets rules for foreign asset taxation
The deadline for holders of offshore investments to register for the option of updating the value of their assets by paying income tax at a reduced rate of 8% starts on Friday (15). The standard rate, according to the law passed by Congress in 2023, is 15%. On Wednesday (13), the ...
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Government steps up pressure on companies that used tax benefits
... Federal Revenue increased the pressure on companies that receive incentives on the sales tax ICMS and deducted these amounts of Business Income Tax (IRPJ) and Social Contribution over Net Profit (CSLL) in recent years. A new batch of notifications has been sent out, and this time, according ...
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End of tax deduction for domestic workers to generate R$700m
The government discreetly ended one of the tax deductions from the Individual Income Tax (IRPF). Until 2019, employers were able to deduct up to R$1,200 from expenses with domestic workers' pension. But the benefit was not extended ...
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Banks see more expensive capital, credit with tax overhaul
The income tax overhaul proposed by the federal government was poorly received by banks, which expect an increase in the cost of capital and credit with the ...
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Government plans exclusive fund tax rebate
... set to propose to Brazils National Congress a provisional executive order in the next few days that gives exclusive funds the option to prepay income tax an estimated R$400 billion to R$600 billion on their invested holdings.A source informed Valor they could opt to pay a 10% tax rate in five ...
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New rule spurs race for tax-exempt bonds
... (LCAs), and Real Estate Secured Bills (LIGs) have led to a rush in recent days for incentivized debentures, which guarantee exemption from income tax for individuals. The volume of trading in the secondary market for these securities reached R$2.5 billion last Mondayjust two working days after ...
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Financial statements show impact of tax benefits taxation
The billions of reais in profits from ICMS incentives and the impact of these amounts on payments of corporate income tax (IRPJ) and social contribution over net profit (CSLL) - after a recent ruling by the Superior Court of Justice (STJ) - have begun to appear on ...
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Government launches strategy to pass taxation of offshore companies
... the provisional measure on the taxation of offshore companies and trusts, which serves to compensate for the extension of the exemption from Income Tax (IR), in force since May 1, to R$2,640 per month. As a result, leaders of both the economic team and Congress launched a "communication strategy" ...