The Federal Senate approved this Wednesday (18) the bill that taxes the profits of multinational companies based in Brazil by at least 15%. The charge will occur through an additional Social Contribution on Net Profit (CSLL) that will guarantee a minimum effective taxation of 15%, within the global agreement to avoid tax erosion, established by the Organization for Social Cooperation and Development (OECD) .
The idea is that the charge will begin in Brazil in 2025. According to the Ministry of Finance, around 290 multinationals are part of this group and 20 of them are Brazilian.
Authored by deputy José Guimarães (PT-CE), Bill 3817/24 repeated Provisional Measure 1262/24, published at the beginning of October, but which was never voted on. The text had been approved by the Chamber yesterday (17) and now it goes to presidential sanction.
According to the text, the profits of multinationals will be subjected to specific calculations to find out whether the company pays at least 15% in taxation. If the account is in deficit, the additional CSLL will apply to the profits of companies in Brazil that are part of multinational groups whose consolidated annual revenue exceeds 750 million euros (around R$4.78 billion) in at least two of the four years consecutive tax periods prior to the calculation.
One of the criteria for joining the Organization for Economic Cooperation and Development (OECD), a group of countries that seek convergence in political, economic and social measures, the taxation of multinationals prevents companies from engaging in tax evasion maneuvers and remitting part of their profits to others. countries, with lower tax rates, or tax havens. Since 2015, Brazil has been trying to formally join the OECD, in a process that remains ongoing.
Tax incentives
Despite the extra taxation, the project extended two tax incentives for Brazilian multinationals until 2029. The benefits are as follows: the presumed credit of 9% on profits abroad and the consolidation of results of subsidiary companies abroad.
According to the project’s rapporteur, deputy Joaquim Passarinho (PL-PA), maintaining these instruments avoids the loss of competitiveness of Brazilian multinationals and possible double taxation (payment of the same tax in two countries), ensuring that they operate on equality with foreign competitors.
The extension of benefits will not have an impact on the 2025 Budget, but will result in the government failing to collect R$4.051 billion in 2026 and R$4.283 billion in 2027.
According to the project, collection will begin in fiscal year 2025, and payment must occur by the last day of the seventh month after the end of the fiscal year. As the fiscal year does not necessarily coincide with the calendar year for all multinational companies and groups, the date becomes variable.
*With information from Agência Câmara.
