Brazil Provides Better Terms for Tax Debt Settlement

Brazil has published Law No. 14.375 of 21 June 2022, which amends past laws in relation to the settlement of tax debts. This includes:

• An increase in the maximum discount on the amounts of fines, interest, and other charges from up to 50% of the total debt to up to 65%;
• An increase in the allowed number of monthly installments from 84 to 120;
• Rules allowing for the use of credits from corporate income tax (IRPJ) losses and/or a negative social contribution on profits (CSLL) calculation base…