COVID-19: Tax measures adopted by the Brazilian Federal Revenue
The Brazilian Federal Revenue recently issued various measures to mitigate the economic impact caused by the coronavirus pandemic, as follows:
1) Resolution of the Management Committee of Simples Nacional nº 154/2020, which extends the terms to pay taxes calculated within the scope of the Simples Nacional. The Simples Nacional is a simplified taxation system available for micro and small companies. Those opting for Simples Nacional will calculate the taxes for the months of March, April and May and will only need to pay them by new due dates established in the said Resolution.
2) Decree nº 10.305/2020, which temporarily reduces to zero the Tax on Financial Operations (IOF) rates. It applies to all credit operations contracted in the period from April 3, 2020 to July 3, 2020, being irrelevant its purpose.
3) Decrees nº 10.285/2020 and 10.302, which temporarily reduced to zero the Tax on Industrialized Products (IPI) rates on specific products for the confrontation of the pandemic. The first was reported on the previous edition of this Apex-Brasil Regulatory Report . They included the following products: laboratory or pharmacy articles; gloves, mittens and the like, except for surgery; clinical thermometers.
4) Normative Instructions nº 1.930/2020 and 1934/2020, which extends the deadlines for delivery of the annual tax declaration for individuals and other tax declarations.
5) Ordinance of the Ministry of Economy (ME) nº 139/2020, amended by Ordinance ME nº 150/2020, which extends the term for collecting federal taxes. It applies to the social security contributions payable by companies and by the domestic employer.
6) Normative Instructions nº 1.927/2020 and nº 1.929/2020, which streamline and simplify the Customs clearance of imported goods to fight the pandemic. The importer can obtain delivery of such goods before Customs procedures are finished.
All norms mentioned herein are detailed in the questions and answers edited by the Brazilian Federal Revenue available at https://receita.economia.gov.br/covid-19/perguntas-x-respostas-medidas-covid19-com-indice-15-04-2020.pdf (in Portuguese)
