Brazil's Chamber of Deputies (lower house of the National Congress) issued a release on 17 December 2024 announcing the approval of the law regulating the country's indirect tax reform, following its return from the Senate (upper house) with certain amendments. As previously reported, Brazil enacted amendments at the end of 2023 that allow for the reform of the indirect tax system, including the replacement of three federal taxes (PIS, COFINS, and IPI), one state tax (ICMS), and one municipal tax (ISS) with two new taxes: the contribution on goods and services (Contribuição sobre Bens e Serviços - CBS), which is...