Congress has approved a supplementary law regulating Brazilian tax reform.Passage of the new law brings the country closer to introducing a tax on goods and services and contribution on goods and services.This Alert highlights these changes and their implications for businesses. After many months of discussion in the upper and lower houses of Congress, one of the supplementary laws that regulates new taxes under the Brazilian tax reform was approved on 17 December 2024. The new law paves the way for introducing the tax on goods and services referred to as IBS (for Imposto sobre Bens e Serviços) and the contribution...