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Brazil Publishes Effective Dates for the Increase in PIS/COFINS on Imports and the Increase in PIS/COFINS and CIDE tax on Fuel

03 February 2015

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Approved Changes

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Brazil

Brazil has recently published Decree 8,395/2015 and Provisional Measure 668/2015 which set effective dates for tax rate increases announced 19 January 2015. PIS/COFINS and CIDE tax on Fuel According to Decree 8,395/2015, CIDE is reapplied for certain fuels from 1 May 2015. It was already announced that PIS/COFINS applies from 1 February 2015. The rates are as follows: Gasoline  - CIDE BRL 0.10/liter, PIS/COFINS BRL 0.12/liter Diesel  - CIDE BRL 0.05/liter, PIS/COFINS BRL 0.10/liter Increase in PIS/COFINS on Imports According to Provisional Measure 668/2015, the rates on imports are generally increased from 1.65% to 2.1% for PIS and from 7.6% to 9.65%...