Brazil's Senate has approved Constitution Amendment Bill 7/2015 (Constitution Amendment Bill 197/2012 as considered by the Chamber of Deputies), which introduces changes to levy of the country's state value added tax (ICMS) on interstate online and phone sales. Currently, online and phone sales of goods to final consumers are subject to ICMS at the internal rate in the state of the supplier only. Under the new rules, ICMS on interstate sales will be split between the state of the supplier and the state of the final consumer. The state of the supplier will charge the interstate ICMS rate, 7% or...