Receita Brasil Program aims to simplify tax rules
The Federal Revenue of Brazil launched the Receita Brasil Program, which aims to reduce the “Brazil cost”, making companies more competitive.
The program will focus on:
- Simplification of tax and customs rules;
- Change in the relationship with taxpayers, based on mutual trust and transparency;
- Reduction of disputes by carrying out tax transaction agreements with the Internal Revenue Service.
The initiative encourages tax compliance by creating opportunities for companies to adapt to the legislation, fulfilling their obligations spontaneously, without the need to introduce inspection procedures.
The objective is to improve the country's business environment by simplifying, cooperating and using alternative dispute resolution means.
Central Bank of Brazil projects GDP growth to 1.7% in 2022
The Central Bank of Brazil (BCB) revised its forecast for the growth of the Gross Domestic Product (GDP) for the year 2022 and now expects a rise of 1.7%.
The estimate was released on June 23, in a preliminary presentation of the quarterly inflation report, which had its release postponed to the 30th due to the strike of BC servers.
According to the director of Economic Policy, Diogo Guillén, household consumption was the main factor that led the BC to revise GDP upwards, followed to a lesser extent by the impact of exports.
SIM Digital: microcredit program for entrepreneurs is approved and gains new limits
Provisional Measure 1107/22, which creates the Digital Microcredit Simplification Program for Entrepreneurs (SIM Digital), was approved by the Chamber of Deputies on June 21. Now, the MP goes to the Senate for approval.
In the approved text, there was an increase in the amounts of loans that can be obtained. For individuals, the amount was increased from R$1,000 to R$1,500, and for individual microentrepreneurs (MEI), from R$3,000 to R$4,500.
The government's expectation is that the Digital SIM will benefit a total of 4.5 million entrepreneurs. Until April of this year, Caixa had granted credit to more than 1 million people with this guarantee.
Bolsonaro sanctions ICMS ceiling on fuel, but vetoes compensation for health and education
President Jair Bolsonaro sanctioned, on June 23, with vetoes, the bill that limits the ICMS (state tax) on fuels, natural gas, electricity, communications and public transport. The bill was approved by the House and Senate earlier this month. Bolsonaro, however, vetoed compensation to states to maintain the same amounts of spending on health and education as before the law was enacted.
Now, fuels, natural gas, electricity, communications and public transport are now classified as essential and indispensable, which prohibits states from charging a rate higher than the general ICMS rate, which varies from 17% to 18%, depending on the location.
Manaus Free Trade Zone (ZFM) will receive R$838 million in new investments
The Manaus Free Trade Zone should receive R$ 838 million in new investments in the coming years. The flow of funds should be generated by the 31 new projects approved by the Board of Directors of Suframa (CAS) at the last ordinary meeting held on June 23rd.
The new projects include 18 deployments and 13 diversifications and are expected to generate 1,392 jobs in the region.
The implementations include, for example, a new factory for bicycle tires and an industry for the production of modified resins and plastic articles, with projected investments of R$ 50.2 million and expected to generate 79 jobs.