Tax reform: taxpayers only have to sell and buy with electronic invoice and indicate credits, says secretary

[ad_1]

Appy made reference to the consumption tax reform, which has already been enacted. Text, however, still needs to be regulated; This is expected to happen by the end of the year. Bernard Appy, in file image Fabio Tito As of the tax reform, most taxpayers will only have the task of “selling and buying” with electronic invoices and recording the invoices that will give them the right to credit (future rebate), he reported in this Tuesday (26) the extraordinary secretary of the Ministry of Finance, Bernard Appy. Appy was referring to the consumption tax reform, which was approved and promulgated last year by the National Congress after decades of discussion. To be valid, however, the reform still needs to be regulated — which government and legislative authorities predict will happen in 2024. “As the systems have few exceptions, in essence it is extremely simple. What is your obligation: to sell and buy with an electronic invoice. And indicate what entitles you to credit. The idea is to do this with very clear rules to give companies legal certainty”, declared Appy. The statement was made at the “Caminhos do Brasil” seminar, promoted by the newspapers O Globo, Valor Econômico, and CBN radio, sponsored by Sistema Comércio, through CNC, Sesc, Senac and their federations. The event took place in Brasília. Appy explained, however, that products purchased through the company for the managers’ personal use will not be eligible for credit. “I can’t use VAT to relieve the company owner’s consumption, and he doesn’t pay tax that he has to pay. But apart from that situation, everything gives credit. Much simpler than what we have today”, he added. According to him, all work is being done so that there is “maximum harmonization” between the two main taxes on consumption, CBS, from the federal government, and IBS, from states and municipalities (understand these concepts below). “As if it were a system for just charging the two taxes, and to make it as simple as possible”, explained Appy. Understand According to the approved text, five taxes will be replaced by two Value Added Taxes (VATs) — one managed by the Union, and the other with shared management between states and municipalities: ▶️ Contribution on Goods and Services (CBS): with federal management, it will unify IPI, PIS and Cofins; ▶️ Tax on Goods and Services (IBS): with shared management by states and municipalities, it will unify ICMS (state) and ISS (municipal). ▶️There will also be a selective tax, called a sin tax, on products that are harmful to health (such as cigarettes and alcoholic beverages) and the environment, in addition to an IPI to ensure a competitive advantage for the Manaus Free Zone. How the Tax Reform will simplify price definition Non-cumulative With the implementation of VAT, taxes would become non-cumulative. This means that, throughout the production chain, taxes would be paid only once by all participants in the process. The tax paid in the previous production chain will be credited to taxpayers. This is the point that Secretary Bernard Appy was addressing at this Tuesday’s event. Currently, each stage of the chain pays taxes individually, and they accumulate until the final consumer. High rate Estimates indicate that future taxes on consumption, to maintain the current tax burden – considered high – would amount to around 27% – and would be among the highest in the world. “We believe that [a alíquota geral] It’s going to be close to what we’ve been saying before [cerca de 27%], but it will depend on regulation”, declared Appy. According to him, the more products and services get reduced or zero rates in the regulations, the higher the general rate will have to be (charged to other sectors). This is because the current tax burden, according to the text of the reform approved by the National Congress, it will have to be maintained – so that there is no loss to the Union, states and municipalities. Regulatory process Secretary Bernard Appy, from the Ministry of Finance, informed that the regulatory proposals for the tax reform are being built in conjunction with the states and municipalities, with which, according to him, there is “convergence on practically all the topics discussed”. The idea, said the secretary, is that the bills, probably two, will be sent to the National Congress in mid-April. “Unfortunately, we were unable to open a broad space for discussion with the private sector (…) We were unable to have all the contributions presented be discussed one by one. But this does not stop discussions with the private sector. From the moment it is sent, there will be a debate with Congress”, added Appy.

[ad_2]

Source link