The initiative consolidates into a single legal act the legislation that is currently scattered across more than 50 Normative Instructions.

On October 14, 2019, the Normative Instruction RFB No. 1,911, of October 11, 2019, was published in the Official Gazette of the Union. This legislation consolidates the Contribution to the Social Integration Program and the Formation of the Public Servant's Assets (PIS/PASEP), as well as the Contribution to the Financing of Social Security (COFINS), the Contribution to PIS/PASEP-Importation, and the COFINS-Importation.

Numerous scattered regulations were condensed into a single act in a logical and systematic way.

The aforementioned IN covers all regulations applicable to the aforementioned contributions, including laws and decrees, with a reference to the law or decree that supports each provision at the end.

Several Normative Instructions were revoked, those that applied to the guidelines of PIS/PASEP and COFINS.

With the publication of IN 1.911, dated October 11, 2019, the Brazilian Federal Revenue Service is taking a leap towards reducing bureaucracy, streamlining the task of assessing tax collection, and promoting a reduction in compliance costs borne by companies.

In short, however, the RFB's central objective is to affirm that the ICMS to be deducted from the PIS/COFINS tax base is the tax actually collected and not the amount shown on the invoice.

This indirectly modifies the decision rendered by the Supreme Federal Court in the judgment of Extraordinary Appeal No. 574.706/PR, affecting even companies that already have a final and unappealable decision and aim to make the respective compensation.

That way, the taxpayer who wishes to offset the amounts Those highlighted will still need to seek legal protection.

Source: Federal Revenue Service