National Treasury Issues Favorable Opinion To Taxpayers With Respect To The Inclusion Of The Icms In The Assessment Of Pis/Cofins Credits Upon Acquisition Of Inputs

• Published date: 08 October 2021
• Subject Matter: Litigation, Mediation & Arbitration, Tax, Trials & Appeals & Compensation, Tax Authorities
• Law Firm: Koury Lopes Advogados
• Author: Koury Lopes Advogados

As we recently reported, in July, the Brazilian Federal Revenue (RFB) issued the Opinion COSIT No. 10, stating that the ICMS should be excluded from the calculation of the credits on the acquisitions of inputs, as an equalization of taxation, given the judgment of Extraordinary Appeal 574,706 by the Supreme Court (STF).

Such understanding, however, distorted what was analyzed and discussed in said precedent, in which the Supreme Court has never stated that the ICMS would not be comprised within the price or value of the goods, but rather that the ICMS does not represent the seller's revenue.

This opinion has been submitted for analysis by the Attorney General of the National Treasury (PGFN), which recently issued the Opinion No. 14.483/2021, concluding, however, differently than the Federal Revenue's argument, in the sense that the ruling issued by the Supreme Court does not enable tax authorities to proceed with the recalculation of the credits on acquisitions, and that such issue was never discussed in the...