Brazil Extends Provisional Measure on Payroll-based Social Security Tax for Most Companies

On 23 May 2017, Brazil published National Congress Act 28/2017 in the Official Gazette. The Act extends the validity of Provisional Measure (PM) 774/2017 for 60 days. PM 774 was published on 30 March 2017 ({News-2017-04-05/A/2- previous coverage}) and reestablishes the 20% social security tax on payroll (INSS) for most companies, except for those engaged in passenger transport, construction, broadcasting, and certain others, which remain eligible for the social security tax on gross income (…