Brazil has published Law No. 14.466 of 2 September 2022 in the Official Gazette, which converts Provisional Measure No. 1.115 of 28 April 2022 into law. As previously reported, the Provisional Measure (now law) temporarily increased the social contribution on profits (CSLL) rates for financial institutions by 1% as follows:
- The 15% rate that applies for the following is increased to 16%:
- private insurance companies;
- capitalization companies;
- distributors of securities;
- foreign exchange and…