The historical decision was issued in the judgment of the Extraordinary Appeal RE No 559.937, whose rapporteurship was from Minister Ellen Gracie.
This decision partially relieves importations by excluding ICMS from the PIS/COFINS due on import calculation basis.
It will result in a reduction of the importation cost, which will certainly contributes to a decrease of the high tax burden currently levied on imported products.
Finally, it is important to register that the Federal Supreme Court is still deciding when the unconstitutionality of the inclusion of ICMS from the PIS / COFINS-importation calculation basis declaration will have effect.
For more information, please contact a tax professional with KPMG in Brazil:
, +55(11) 3138 5071, email@example.com
, +55(11) 2183 3281, firstname.lastname@example.org
, +55(11) 2183 3261, email@example.com
, +55(11) 3138 5070, firstname.lastname@example.org