Reforma Tributária:
O que pode mudar na tributação das empresas?
The main changes are in the IRPJ, the Social Contribution on Net Income (CSLL) and the 15% rate for profits and dividends; project is still going through the Federal Senate.
The Chamber of Deputies ended the processing of the reform of the Income Tax (PL 2337/21) with important changes in the taxation of companies. The main changes were in the rates of Corporate Income Tax (IRPJ), Social Contribution on Net Income (CSLL) and the institution of taxation of profits and dividends, previously exempt in the country.
The text will still pass through the Federal Senate under pressure from mayors and governors. According to calculations by the National Committee of the Secretaries of Finance of the States, the entire project will lead to an annual loss of R$ 22 billion in revenue, with R$ 19 billion a year in taxes destined for states and municipalities.
The Independent Fiscal Institution (IFI) foresees even more tax collection deficit. According to the agency, the bill could create a "fiscal burden" in the order of R$ 28.9 billion for 2022. The federal government speaks of R$ 20 billion.
See below the main changes in Income Tax for companies, by topic.
Increased tax burden
The approval of the reform by the Chamber of Deputies was poorly received by the financial market. This Thursday (2), the date of approval, the Ibovespa registered a drop of 2.28%, to 116,677 points.
Simulation of tax burden for companies
Considering text approved by the Chamber of Deputies on September 2nd.
IRPJ and CSLL
The bill provides for a reduction from 15% to 8% in the tax rate on the income calculated for the Corporate Income Tax (IRPJ). Companies with monthly profits above R$ 20,000 per month have an additional 10% tax, a measure that will continue to apply after the reform.
The reduction was subject to the implementation of an additional 1.5% of the Financial Compensation for the Exploitation of Mineral Resources (CFEM).
The 1 percentage point cut in the Social Contribution on Net Income (CSLL) was also approved, also conditioned to the reduction of tax incentives to the pharmaceutical industry, piped natural gas, mineral coal, chemical, pharmaceutical and hospital products.
Thus, CSLL goes from 9% to 8% for companies in general, from 15% to 14% for various financial institutions and from 20% to 19% for banks.
Initially, the report planned to cut the IRPJ by 12.5 percentage points and did not provide for changes in CSLL. The text was changed by the rapporteur in order to gather support from governors and mayors, who claim that they will lose resources with the reform, since the corporate income tax collection is shared with states and municipalities, while the CSLL is not shared.
According to the IFI, this change in the IRPJ rate alone will cause a reduction in collection of around R$49.9 billion in 2022. In 2023 and 2024, the loss will be of R$53.1 billion and R$56.5 billion, respectively.
For CSLL, the collection reduction will be R$ 10.6 billion next year. In the following years, of R$ 11.3 billion and R$ 12 billion.
profits and dividends
The proposal establishes the return of taxation on the distribution of profits and dividends of companies, which would come into force as of January 1, 2022.
There was, however, an amendment proposed by Deputy Neri Geller (PP-MT) and the tax was set at 15%, at source. This was the main difference against the Ministry of Economy's proposal, which was a 20% rate.
In another change, dividends from stock investment funds are not included in the taxation. Taxation will only be applied upon redemption, at a rate of 15%. Payments from real estate investment funds were already exempt and the measure was maintained. In the sale of shares, the bite is 20% of the valuation.
Simples Nacional companies – MEIs, micro and small businesses – will not be taxed by income tax on profits, as well as those with presumed profit with up to R$ 4.8 million in revenue per year.
Exceptions were also created for companies participating in a holding company, supplementary pension funds and companies remunerated by real estate developers under the special taxation regime for allocated assets.
Interest on equity
The proposal approved the prohibition of interest on equity, a transfer that as an alternative form of distributing the profits of a publicly traded company (which has shares on the stock exchange) to its shareholders.
Currently, companies are exempt and the income tax is 15% when the funds are deposited in the shareholders' accounts.
According to the Federal Revenue, interest on equity was created when it was difficult to access credit and companies needed to finance themselves with resources from partners.
"With a much more evolved credit market and lower interest rates, it is no longer necessary to provide benefits for entrepreneurs to invest their money in the company itself. The mechanism has proved ineffective to capitalize companies and promote investment," said the agency.
The IFI also estimated the revenue gain with the end of the JCP. In 2022, the increase will be R$ 6 billion. In the coming years, of R$ 13.6 billion and R$ 14.5 billion.
Source: G1 Economy
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