Brazilian Government proposes the elimination of interest on net equity deduction

06 September 2023|Tax Alerts, Information Reporting, Legislation & Policy, National/Federal Taxation|Brazil

If enacted, the bill would eliminate the deduction of interest on net equity paid or credited as a means of remunerating shareholders.
Taxpayers should monitor the progress of the bill through Congress and determine the impact the bill's provisions could have on their operations.

On 31 August 2023, the Brazilian Government proposed a bill that would change the corporate income tax system by eliminating the deductibility of Interest on Net Equity (INE) as of 1 January 2024. Nevertheless, the text o…

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