In its decision issued 15 March 2017, the Brazilian Supreme Federal Court ruled on the constitutionality of the inclusion of state value added tax (ICMS) in the basis for calculating the Contribution for the Social Integration Program (PIS) and the Contribution for the Financing of Social Security (COFINS). According to the Court, the amount collected as ICMS is not incorporated into the taxpayer's assets and, therefore, cannot be included in the calculation basis for these contributions. Fur…