The acting President of the Republic, Hamilton Mourão, edited two new decrees with changes in the current tax rules and a third to regulate the extension of the period for granting tax incentives through the Support Program for the Technological Development of the Semiconductor Industry (PADIs) .
One of the decrees reduces the rate charged from legal entities as a contribution to the Social Integration and Public Servant Asset Formation programs (PIS/Pasep), in addition to the Social Contribution for the Financing of Social Security (Cofins).
The decree sets the contribution rate for the PIS/Pasep at 0.33%, and the fraction charged for the Cofins at 2%, seeking to “reduce the PIS/Cofins tax burden on the financial revenues of companies that are in the system not cumulative, freeing up resources so that they can expand their operations, invest and create jobs”.
The reduction in the percentage charged includes gains that companies subject to the non-cumulative calculation regime obtain with financial investments resulting from operations of hedge – strategy aimed at reducing investment risk, protecting assets from possible negative variations.
Shipping
The second decree signed by the acting president grants a 50% discount on the rates of the Additional Freight for the Renewal of the Merchant Marine (Afrmm). With the measure, the Union will forgo receiving about R$ 7.35 million for the next three years.
The initiative will benefit the shipping sector, contributing to the reduction of maritime freight costs and bureaucracy, to increasing competitiveness and improving the dynamics of work flows in ports.
The federal government also believes that granting the discount will allow a reduction in the price of fertilizer inputs, imported fuels and primary sector products that make up the basic food basket or that interfere with its cost.
semiconductors
The third decree issued today extends until December 31th 2024 is the deadline for granting tax incentives through the Support Program for Technological Development of the Semiconductor Industry (PADIs).
The measure also regulates the inclusion of other process inputs or industrial products for the manufacture of microelectronic components in the program, in addition to operational adjustments already provided for by law.
Current incentive values will be in effect until the end of 2024. From then on, they will be reduced and granted until December 31th of 2026. According to the General Secretariat of the Presidency of the Republic, the regulation was necessary to “assimilate and accommodate the changes in the legal system promoted by Law n.th 14,302/22, allowing the continuity of the policy for the semiconductor sector in Brazil, strategic for the national economy and important for the expansion of research, development and innovation (RD&I) activities integrated into the national sector of information and communication technologies (ICT )”.
The first two aforementioned decrees come into force as of this date. Sunday (1st). The one relating to the semiconductor sector comes into effect from the moment the respective waiver is included in the annual budget law for each financial year.
