The Chamber of Deputies approved this fourthThis Friday (2) law that provides for a deduction in the Corporate Income Tax, as a tax incentive, for companies that donate resources for research on covid-19. The matter goes to presidential sanction.
The project creates the Covid-19 Pro-Research Priority Program. Companies taxed on the basis of real profit, a regime adopted by large companies (with revenues above R$ 78 million) may participate in this program.
The text allows companies taxed on real profit that donate to the program to deduct from the Income Tax due, in each period, of the same donation amount up to the limit of 30% of the tax due, without excluding other legal deductions.
If the company is in the areas of health or medicines, the deduction limit will be 50%. These deductions must correspond to in-kind donations made within the quarterly or annual tax assessment period.
The approved matter provides for an additional BRL 400 million to fund the incentives in 2023.
