Eduardo Braga, who is expected to report on the Contribution on Goods and Services (CBS) in the Senate’s Economic Affairs Committee, said he is not convinced that the 11.3% rate set by Brazil’s Federal Court of Accounts is correct. He made the remarks on Tuesday, the 3rd.
Braga, who also reported on tax reform in the Senate, had expected the CBS rate to fall between 8% and 9%. The tax will replace PIS and Cofins, as well as the tax on financial operations applied to insurance. Projections from companies had put the rate at 9.5%.
The rate must be established through a Senate resolution approved by December 15. The Economic Affairs Committee approved a public hearing on Tuesday to discuss the matter.
Those invited include Federal Court of Accounts President Vital do Rêgo, or a representative responsible for the study behind the 11.3% figure; Federal Revenue special secretary Robson Barreirinhas; and representatives from the Finance Ministry and accounting organizations.
Committee President Renan Calheiros did not attend Tuesday’s meeting. In a post on X, he said he would appoint Braga as the CBS rapporteur and expected to schedule the first hearings on the issue for Wednesday, the 11th.
Braga said the Federal Court of Accounts told the Senate’s general secretariat that it would send the studies supporting its rate calculation on the 10th.
Sources: Folha Mercado.