New Provisional Measure Published by the Brazilian Government Revokes and Limits Tax Benefits

The Brazilian government published Provisional Measure (MP) No. 1.202/2023 on December 29, 2023, which revokes and limits certain tax benefits.

The MP determines the following:

• Gradual re-burdening of payroll.
• Limitation of tax compensations resulting from judicial decisions.
• Resumption of taxation on the events sector (profit and others): the tax benefits granted to the events sector during the pandemic will be revoked.

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