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May 2, 2022
Brazil increases social contribution on net profits rate for financial institutions and insurance companies
The social contribution on net profits rate is increasing by one percentage point for financial institutions and insurance companies.
On 28 April 2022, Brazil published Provisional Measure No. 1,115, which increases the social contribution on net profits (CSLL) rate by one percentage point for banks, insurance companies and other financial institutions, until 31 December 2022.
The CSLL rates increased:
The Provisional Measure is effective on the first day of the fourth month following its publication.
For additional information with respect to this Alert, please contact the following:
EY Assessoria Empresarial Ltda, São Paulo
Ernst & Young LLP (United States), Latin American Business Center, New York
Ernst & Young Tax Co., Latin American Business Center, Japan & Asia Pacific