The extraordinary secretary for tax reform, Bernard Appy, stated this Thursday (25) that the tax reform regulations presented to the National Congress seek to make the tax system simpler, fairer and more transparent. According to him, the change will bring a standard average rate below 26.5%. The secretary assesses that the current charge is 34.4%, considering the ICMS of 18% and PIS/Cofins of 9.25%. With the proposed changes, Appy estimates that the rates will be divided between 8.8% for federal tax and 17.7% for states.
People will know how much tax they are paying when purchasing any product or service. Today people have no idea of the value
Bernard Appy, extraordinary secretary for tax reform
What does the project say
The tax reform regulations were presented this Wednesday (24). The text delivered by the Minister of Finance, Fernando Haddad, establishes the creation of the IBS (Tax on Goods and Services), the CBS (Social Contribution on Goods and Services) and the IS (Selective Tax). The rates will replace the three federal taxes (PIS, Cofins and IPI), one state (ICMS) and one municipal (ISS).
