Brazil Amends CSLL Rates Including Increase for Certain Financial Institutions

Brazil has published Provisional Measure No. 1.034 of 1 March 2021, which sets the social contribution on profits (CSLL) rates as follows, including an increase for certain financial institutions:

• 20% until 31 December 2021 and 15% from 1 January 2022 in the case of:
  • private insurance companies;
  • capitalization companies;
  • distributors of securities;
  • foreign exchange and securities brokers;
  • credit, financing, and investment companies;
  • real estate credit companies;
  • credit card administrators;…