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Brazil Provides New Method for Tax Regularization

|Approved Changes|Brazil
Brazil

Brazil's Attorney General of the National Treasury has announced the introduction of a new method of tax regularization in response to COVID-19, referred to as "Exceptional Transaction" (Transacão Excepcional). The new method offers special conditions for the payment of federal tax debts of up to BRL 150 million for corporate and individual taxpayers that have experienced a reduction in revenue, in any percentage, from the March 2020 period as compared to the same period in 2019. With the ne…

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