ANNOUNCEMENT 07 May 2015
On 7 May 2013, the Brazilian government created a new set of tax rules for specific Brazilian Chemical sectors under the "Special Regime of the Chemical Industries" (REIQ). While initially announced as a temporary measure, the relief was subsequently made permanent in September 2013.
NUMBER OF INTERVENTIONS
Chieff of Staff of Brazil, Casa Civil Brasileira Medida Provisoria Nº 613. de 7 de maio de 2013,
Chieff of Staff of Brazil, Casa Civil Brasileira, Lei Nº 12.859 de 10 de setembero de 2013
Reduction of contribution rates of Social Integration Program Contribution and Contribution for Social Security Financing (PIS/COFINS), from 9.25% to 1%, that benefitted companies under the chemical industry programs pertaining to the Special Regime of the Chemical Industries, or Regime Especial da Industria Quimica (REIQ) in Portuguese. This law was originally planned to be a provisional measure, lasting 6 months.
On 10 September 2013, this measure was made permanent through Law 12.859.