PIS and Cofins reform will be carried out in three stages


The government will reform the PIS and Cofins in three stages. The first change, which should be sent to Congress later this month, will take place in the PIS. After a year of testing with the new PIS, it will be the turn of the Cofins reform. In a third stage, PIS and Cofins, contributions that finance social security, will be unified in a single tax in a model very similar to the Value Added Tax (VAT) charged by European countries.

Source: Estadão website (06/08)

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