On 7 July 2023, the Brazilian Chamber of Deputies approved legislation for the introduction of major indirect tax reform in the country, which must now be approved by the Senate. The reform includes 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);…