04/25/2024 – 11:42
The Ministry of Finance estimated this Thursday that the average rate of 26.5% provided for in the tax reform regulations will be divided between average rates of 8.8% for the Contribution on Goods and Services (CBS, federal tax) and 17. 7% for Goods and Services Tax (IBS, state tax).
+ Cashback, basic food basket, professions with less tax: what changes with regulation
The Ministry stated in a document that the tax reform regulations provide for “cashback” of 100% of CBS for gas cylinders, and 50% for energy, water, sewage and piped gas for low-income families. The ministry also said that the average tax burden on foods favored by the basic food basket will fall from 11.6% to 4.8%.
The Minister of Finance, Fernando Haddad, delivered the first bill regulating the tax reform on consumption the day before to the presidents of the Chamber of Deputies, Arthur Lira (PP-AL), and of the Senate, Rodrigo Pacheco (PSD-MG) .
Full regulation of the tax reform should take place between 2024 and 2025, depending on the approval of deputies and senators. The transition to the new model is expected to begin in 2026.
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