Brazil has enacted Constitutional Amendment No. 132 of 20 December 2023, which allows for the introduction of major indirect tax reforms in the country. As previously reported, the reforms include the replacement/unification of several current indirect taxes with new taxes. The taxes being replaced/unified include:
- the federal contributions for social integration (PIS) and social security financing (COFINS);
- the federal tax on manufactured products (IPI);
- the state value added tax (ICMS); a…