On 27 February 2013, the Brazilian Senate approved Provisional Measure No. 1/2013, which allows more legal entities to opt for the "presumed profit regime". According to the new provision, legal entities of which the total gross income, including capital gains, did not exceed BRL 72 million in the previous year may choose to be taxed under the presumed profit regime (previously, BRL 48 million).
Depending on its gross revenue, a Brazilian corporation can choose to be taxed based on its "…