The term of the Provisional Measure that excludes ICMS from the basis of PIS and COFINS credits begins

The Provisional Measure nº 1,159/2023, published on 01/12/2023, stipulates that taxpayers must exclude the ICMS charged on acquisition operations from the calculation base of PIS and COFINS when recording the corresponding credits.

It is important to emphasize that this regulation, in compliance with the ninetieth principle, determined that the amendment would take effect only from the first day of the fourth month following its publication – May 1, 2023.

The Brazilian Federal Revenue Office issued a note explaining how taxpayers should reflect this change in the EFD Contributions. The communication specified that the adjustment should be made directly in the credit calculation base, individually in each record referring to the fiscal documents.

Therefore, with the start of the validity of this significant alteration, taxpayers need to be attentive to the calculation of PIS and COFINS for May 2023 and make the necessary adjustments.

The Barank Advogados team is available to clarify any doubts and provide necessary support.

Source: http://sped.rfb.gov.br/pagina/show/7201