Brazil Extends CFC Consolidation and Presumed Tax Credit

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…