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Brazil Extends CFC Consolidation and Presumed Tax Credit

|Approved Changes|Brazil
Brazil

Brazil has published Law No. 14.547 of 13 April 2023 in the Official Gazette, which provides for the conversion into law of Provisional Measure 1148/2022 to extend the term of validity of the consolidation regime and presumed credit for controlled foreign companies (CFCs) under Law No. 12,973 of 13 May 2014. This includes:

  • Until the 2024 calendar year, profits or losses of CFCs may be consoli…

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