9 February 2015
As announced by the Ministry of Treasury, Provisional Measure No.668/2015 was published in the Official Gazette, on 01/30/2015, which, among other changes, increased the PIS / PASEP and COFINS on the import of goods and services.
According to Article 1 of the Provisional Measure, effective from 1 May, 2015, the PIS and COFINS on imports, will be:
I. 2.1% (PIS-Imports) and 9.65% (COFINS-Imports) on the entry of foreign goods into the country and no longer 1.65% and 7.6%, respectively;
II. 2.76% (PIS-Imports) and 13.03% (COFINS-Imports) for pharmaceutical products and no longer 2.1% and 9.9%; respectively
III. 3.52% (PIS-Imports) and 16.48% (COFINS-Imports) for perfumery, toilet linen and personal care products and no longer 2.2% and 10.3%, respectively;
IV. 2.62% (PIS-Imports) and 12.57% (COFINS-Imports) for machines and vehicles and no longer 2% and 9.6%, respectively;
V. 2.88% (PIS-Imports) and 13.68% (COFINS-Imports) for tires and tubes and no longer 2% and 9.5%, respectively;
VI. 2.62% (PIS-Imports) and 12.57% (COFINS-Imports) for auto parts and no longer 2.3% and 10.8%, respectively; and
VII. 0.95% (PIS-Imports) and 3.81% (COFINS-Imports) for tax exempt paper and no longer 0.8% and 3.2%, respectively.
The tax rates for the payment, credit, delivery, use or remittance of amounts to persons resident or domiciled abroad as remuneration for services rendered were maintained as 1.65% for PIS-Imports and 7.6% for COFINS-Imports.
It should be noted also that the Provisional Measure expressly forbid the right of COFINS-Import tax credit paid due to the one percent increase in the tax rate, established by Law No. 12,844/2013. This may lead taxpayers to court in order to face such restriction, as well as disputing this same kind of restriction for the tax rate increases described above.
Finally, paragraphs 15 and 16 of Article 74 of Law No. 9,430 / 96, which provided for fines on tax offsets as a result of improper or denied tax refund, were repealed.