Congress enacted this afternoon (10) the Constitutional Amendment 121/2022, which guarantees tax benefits to information and communication technology and semiconductor companies. The Proposed Amendment to the Constitution (PEC) was last approved in December last year, in the Senate. Today, its promulgation is completed.
According to the president of Congress, Senator Rodrigo Pacheco (PSD-MG), the Constitutional Amendment improves fiscal austerity mechanisms and provides a specific tax system for the technology sector.
“This is precisely the core of PEC 10, of 2021: to guarantee the adequate and necessary fiscal policy for the information and communication technology and semiconductor sectors, the vertex of the results in research and development in the country, which, rightly and now with the force of the constitutional text, they must enjoy a particular tax system for the continuity of development and technological progress in Brazil”.
The vote on PEC 10/2021 was part of an agreement to approve the Constitutional Amendment 109in force since March 2021, which instituted the exemption policy, paving the way for the payment of emergency aid.
This amendment defined transitional rules on the reduction of tax benefits, partially unlinked the financial surplus from public funds and suspended conditionalities for the realization of expenses with the granting of residual emergency aid to face the social and economic consequences of the Covid-19 pandemic.
*with information from the Senate Agency
