On April 1st, 2015, the Decree No. 8,426/2015 was published by the Federal Government with the purpose of re-establish the charging of PIS and COFINS on the financial revenues earned by taxpayers subject to the non-cumulative methodology. Such revenues, with the exception of those related to Interest on Net Equity (JCP), were subject to PIS and COFINS at the 0% tax rate since the edition of Decree No.5,164/2014, subsequently repealed and replaced by Decree No. 5,442/2005.
As a result, from July 1st, 2015, legal entities subject to the non-cumulative methodology shall include the financial revenues on the PIS and COFINS calculation basis, which will levy by the rates of 0.65% and 4%, respectively.