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A list of the main taxes collected from individuals and companies in Brazil:

Federal Taxes

II (Imposto de Importação) – Import tax.

IOF (Imposto Operações Financeiras) – A tax levied on financial operations and assessed on different types of transactions such as credit, foreign exchange, shares, insurance & shares.

IPI (Imposto Sobre Produtos Industrializados) – Tax on industrialized products. Charged to industries & importers of industrialised products.

IRPF (Imposto sobre a Renda Pessoa Física) – Personal income tax. Applies to the income of Brazilian residents.

IRPJ (Imposto sobre a Renda Pessoa Jurídica) – Company income tax. Applies to company profits.

ITR (Imposto sobre a Propriedade Territorial Rural) – Tax on rural territorial ownership.

Cide (Contribuição de Intervenção no Domínio Econômico) – Contribution for intervention in the economic domain. Applies to petroleum and natural gas and their derivatives, and upon fuel alcohol such as ethanol.

Cofins (Contribuição para Financiamento da Seguridade Social) – Contribution for the financing of social security. Charged to companies.

CSLL (Contribuição Social sobre o Lucro Líquido) – A company 'contribution' charged on net profit.

FGTS (Fundo de Garantia do Tempo de Serviço) – Is basically a Government unemployment insurance fund that companies are required to pay into each month based on their employees wages. A percentage of the salary of each employee is deposited by the company into a Government scheme which then provides unemployment or retirement assistance to those employees if they are dismissed or retire.

INSS (Instituto Nacional de Seguridade Social) – National Social Security Institute. Percentage of each employee’s salary charged to a company and the employee for health care. The value of the contribution varies according to the range of activities.

PIS (Programa de Integração Social) & Pasep (Programa de Formação do Patrimônio do Servidor Público) – Programs for social integration of public service employees & other workers that earn less than twice the minimum wage. Charged to companies.

State Taxes

ICMS (Imposto sobre operações Relativas à Circulação de Mercadorias e sobre prestações de Serviços de transporte interestadual, intermunicipal e de comunicação) – A tax on the circulation of goods. Also applies to interstate and inter-municipal transport and telephony. It operates in a similar fashion to a US sales tax or a State based VAT.

IPVA (Imposto sobre a Propriedade de Veículos Automotores) – Tax on the ownership of automobiles.

ITCMD (Imposto sobre a Transmissão Causa Mortis e Doações) – Tax on the inheritances and donations.

Municipal Taxes

IPTU (Imposto Predial e Territorial Urbano) – Tax on buildings and urban land.

ISS (Imposto Sobre Serviços) – Tax on services. Charged to companies.

ITBI (Imposto sobre a Transmissão de Bens Imóveis) – Tax on the transmission of property rights between two living parties. Applies to the change of ownership of real estate or the rights to control it when both involved parties are living. In the case of ownership or rights transfers due to death(eg. inheritance), then ITCMD applies instead. Payable by the purchaser of the property.

Latest News

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    18th July, 2017

    Grupo Carrefour Brasil SA's initial public offering could price at the bottom of a suggested price range later on Tuesday, reflecting concern over too stretched a valuation for Brazil's biggest supermarket chain, three people familiar with the matter said.

  • Soy bags line a field in Mato Grosso

     

    4th July, 2017

    Brazilian farmers are discovering a downside to becoming one of the world’s top producers of soybeans: they’re running out of room to store all the unsold supply.

  • JBS logo

     

    20th June, 2016

    Meatpacker JBS today unveiled a R$6 billion (US$1.8 billion) divestment plan, putting dairy, poultry and cattle feeding assets on the block to cut debt after a corruption scandal raised concerns about its financing costs.

  • Paulo Cesar Silva

    19th June, 2017

     

    Paulo Cesar Silva, chief executive officer at Embraer SA, discusses the impact of political turmoil in Brazil, progress made on the E195 Mark 2 aircraft, and the potential for aircraft deals with Iran. He speaks with Bloomberg's Guy Johnson from the Paris Air Show on "Bloomberg Surveillance." (Source: Bloomberg)

     

  • Daihatsu Sirion

     

    14th June, 2017

    Daihatsu Motors said today it plans to launch compact cars in Brazil, as parent company Toyota Motor Corp looks to its minicar subsidiary to help it expand in emerging markets and produce lower-cost, quality vehicles.

  • Bovespa

     

    17th April, 2017

    Economic activity in Brazil grew in February at the fastest pace since January 2010, a central bank indicator showed on Monday, in the strongest sign yet that Latin America's largest economy is emerging from a two-year recession.

  • Fortaleza Airport

     

    17th March, 2017

    The federal government raised R$3.72 billion (US$1.2 billion) with the concession of four Brazilian airports yesterday (Thursday 16th March). The result was better than initial estimates of R$3.014 billion (US$972 million), achieving a 23% premium for the actual results.

  • Salvador Airport

     

    10th March, 2017

    Brazil is confident of strong investor turnout at an auction next week for the rights to run four airports, two government sources said on Friday, with at least nine operators showing appetite for one of the first in a wave of privatizations.

  • Science lab

     

    8th February, 2017

    Institutes and researchers will be exempt from paying import duties when purchasing materials for research and technological development in 2017.