• TRM (USD/COP)COP 3,235.59 +1.65% +COP 52.60Colombia's official exchange rate (Financial Superintendence), valid Nov 4 to Nov 4
  • EuroCOP 3,617.08 +1.72% +COP 61.02Reference: TRM crossed with the European Central Bank rate of Nov 3; not the market quote
  • Mexican pesoCOP 173.98 +3.35% +COP 5.64Reference: TRM crossed with the European Central Bank rate of Nov 3; not the market quote
Quilla NewsFinance & Technology
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Brazil consumption tax rate could exceed projections, worrying infrastructure companies

FinanceInternationalBNamericas40 s readAI summary
Image: BNamericas

Brazil's Federal Court of Accounts (TCU) presented a calculation proposing a reference rate of 11.3% for the Goods and Services Contribution (CBS) in 2027, a tax that will replace PIS and Cofins. If confirmed, total consumption taxation could reach 30%, above the 26.5% foreseen during the passage of the reform approved in 2024. The proposal still needs to be evaluated by the Senate, which has until December 22 to set the rate.

In 40 seconds

  • The TCU proposes a reference rate of 11.3% for the CBS in 2027, which will replace PIS and Cofins.
  • With that figure, the total consumption burden could reach 30%, versus the 26.5% foreseen in the reform approved in 2024.
  • The CBS rate will be set annually until the reform is fully implemented in 2033.
Read the full story at BNamericas

IASummary generated by artificial intelligence from a story by BNamericas. It may contain errors: the original source prevails.

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