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Brazilian Government proposes the elimination of interest on net equity deduction

|Tax Alerts, Information Reporting, Legis ...|Brazil
Brazil

  • If enacted, the bill would eliminate the deduction of interest on net equity paid or credited as a means of remunerating shareholders.
  • Taxpayers should monitor the progress of the bill through Congress and determine the impact the bill's provisions could have on their operations.

On 31 August 2023, the Brazilian Government proposed a bill that would change the corporate income tax system by eliminating the deductibility of Interest on Net Equity (INE) as of 1 January 2024. Nevertheless, the text o…

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