Last Tuesday, Provisional Measure No. 1227/2024 was published in the Official Gazette of the Union, establishing compensatory measures due to the maintenance of payroll tax relief until 2027. The government declared that the measures would be necessary to combat disharmony in public accounts and promote tax justice.
In the context of this fiscal adjustment and the reorganization of federal public finances, MP 1227 addresses the following topics: (i) new conditions for the enjoyment of tax benefits; (ii) delegation of powers to supervise and judge the tax administrative process relating to Rural Land Property Tax; (iii) limitation to the offset of PIS and COFINS Contribution credits with debts from other taxes administered by the Brazilian Federal Revenue Service; and (iv) revocation of the hypotheses of reimbursement and compensation of presumed credits of these Contributions.
Check out the material prepared by our Tax team here (available only in portuguese).
