Capital gain in foreign currency
05/11/2019INSS – Proof of Life of Beneficiaries Residing Abroad
08/11/2019ARTICLES
RFB Normative Instruction 1.911 rules PIS and Cofins
The RFB Normative Instruction 1,911/2019 was published on Oct-15-2019 by the Federal Revenue of Brazil in order to consolidate and regulate the calculation, collection, inspection, storage and administration of PIS/PASEP and COFINS through of a single legal act.
Several acts dealing with these taxes were repealed, and the related provisions were organized in a single act, to make the consultation easier.
It is noteworthy that the new standard follows the guidance provided by the COSIT Internal Consultation Solution 13/2018, on “the amount to be excluded from the calculation basis of the monthly contribution is the monthly amount of ICMS payable, according to the majority understanding signed in the judgment of the Extraordinary Appeal 574,706/PR, by the Federal Supreme Court.
However, we stress that the Federal Supreme Court (STF) is expected to review opposing filing embargoes by the Union in judgment of RE 574706 ruled December 5, 2019. Depending on the understanding of the court, part of RFB IN 1911 may be invalid.
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