Brazilian federal tax revenue is the total tax received by the federal government. In November 2020, the federal government collected revenues of BRL 140 billion, a decrease of 9.0 percent over the previous month. It represents an increase of 11.9 percent compared to the same month of the previous year. Read more…
Brazilian federal tax revenue is the total tax received by the federal government. In October 2020, the federal government collected revenues of BRL 154 billion, an increase of 28.5 percent over the previous month. It represents an increase of 13.9 percent compared to the same month of the previous year. Read more…
International Accounting Standard 16 (IAS 16) defines depreciation as the systematic allocation of the depreciable amount of an asset over its useful life. Depreciable amount is the cost of an asset, or other amount substituted for cost, less its residual value. Before Brazil adopted IFRS, companies in Brazil used to depreciate assets Read more…
CND, short for Certidões Negativas de Débitos in Portuguese, is a tax clearance certificate issued by tax authorities — federal, state, or municipal — which states that your company has settled all its debt. It verifies that an entity had paid all its tax liabilities at the time the certificate was issued. The Read more…
A business entity is the vehicle a person or group of people use to carry on a trade or activity, it is one of the most important decisions to make when starting a business. To get the most out of your business, choose the right structure. The tax consequences from each Read more…
In Brazil there are several regulatory agencies that have authority over an industry or profession in addition to the general government regulation. The goal of these agencies is to regulate and supervise a specific industry in Brazil. There are federal agencies, state agencies and municipal agencies. The most important agencies are the Read more…
Accounting Organizations CPC CPC, short for Comitê de Pronunciamentos Contábeis in Portuguese, is the local organization that promotes the application of the International Financial Reporting Standards (IFRS) in Brazil. The CPC approves standards that are identical to IFRS Standards as issued by the IASB. These standards are endorsed by the CVM for public Read more…
Tax principles are fundamental concepts that help and guide governments to design and implement laws. They also protect the taxpayers. The tax Principles in Brazil are addressed in the Brazilian Constitution and the Tax Code in articles 145, 150 and 153: Article 145 Ability-to-Pay Principle: Whenever possible, the government should Read more…
The Brazilian tax authorities levy taxes on some types of investment income such as interest, rent on real estate and realized capital gains. Variable Income Tax on Capital Gains (stocks) The Department of Federal Revenue of Brazil, English for Secretaria da Receita Federal do Brasil, levies taxes on realized capital gains. Read more…
IRPF, short for Imposto sobre a Renda das Pessoas Físicas in Portuguese, is imposed by federal government on individual income. States and cities in Brazil do not levy income taxes. An income tax return must be filed every year by business and individuals. Who is required to file a tax return? It will depend on your Read more…