Law No. 13,169/2015, published on October 7th, 2015, resulting from the conversion of Provisional Measure No. 675/2015, maintained the increased rates of CSLL for legal entities mentioned in the Section 1 of Provisional Measure No. 675/2015, and made, among other things, the following changes in tax federal laws as a result of the inclusion of Sections 2 to 15 as described below:

  • Increased the CSLL rate to:
    • 20%, between September 1st, 2015, and December 31st, 2018, in case of private insurance or savings companies; banks; securities distributors; foreign exchange and securities brokerage firms; credit, finance and investment companies; real estate credit companies; credit card issuers; leasing companies; and savings and lending associations.
    • 17%, between October 1st, 2015, and December 31st, 2018, in case of credit cooperatives.
    • 15%, from January 1st, 2019 onwards, for the legal entities mentioned in the items ‘i’ and ‘ii’
  • Extended applicable period of the Tax Regime (tax benefits) for Incentive to Modernization and Expansion of Ports Infrastructure (the so-called “REPORTO”) until December 31st, 2020;
  • Created the maximum deadline of 7 (seven) years for the tax suspension in the concession of drawback special customs regime for the industrialization of vessels;
  • Reduced to to 0% the rate of PIS/PASEP and COFINS applicable to active electricity supplied by a distributor to a consumer unit, in the amount corresponding to the sum of the active electricity injected in the distribution system by the same consumer unit with the credits of active electricity originated from the same consumer unit in the same month.