Brazil’s Tax Reform: implications for M&A transactions
Following Constitutional Amendment 132/2023, Brazil launched a tax reform that will extinguish four taxes – State Value-Added Tax on Goods and Services (ICMS), Municipal Service Tax (ISS), Social Integration Program contribution (PIS), and Contribution for the Financing of Social Security (COFINS). They will be replaced by the Contribution on Goods and Services (CBS) and the […]