Brazil Phasing Out Optional Regime for Social Contributions on Gross Income and Reopens Foreign Assets Disclosure Regime
Brazil has published Law No. 14.973 of 16 September 2024 in the Official Gazette, which provides for the phasing out of the optional regime for social contributions on gross income (revenue) (Contribuição Previdenciária sobre a Receita Bruta - CPRB). The CPRB regime allows companies in certain sectors to pay their social security contributions based on a percentage of gross income rather than …
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