VAT news tagged as "ISS"

Brazil

Brazil raises ISS to 2%

November 1st, 2015

The Brazilian Chamber of Deputies ruled this week that the minimum Imposto sobre Serviços will rise to 2%. ISS is the service tax levied by municipalities. The rise in the minimum rate is to prevent the increasing race to the bottom on competing cities and regions looking to attract business. The rise will now need …


Brazil

Brazil attempts to harmonise services tax

July 15th, 2015

The Brazilian parliament is reviewing a Bill which would harmonise the Imposto Sobre Servicos (ISS) tax on services. This would include placing it at the state, federal level. ISS is a municipal level turnover tax on services. The services subject to the ISS are outlined by the Federal Complementary Law, and listed in detailed by …


Brazil

Brazil new ICMS VAT invoice requirements

March 6th, 2013

From 1 June 2013, new Brazilian ICMS VAT invoice disclosure requirements come into force, requiring more details on taxes charged. These include: Municipal tax on services – ISS Federal tax – IPI Manufacturing federal taxes – IPI Taxes on financial and currency transactions – IOF State VAT – ICMS