The Regional Superintendence of the Brazilian Revenue Service of the 8th Tax Region (SRRF8th), in answer to consultation proceeding n. 317, of December 18, 2012, brought clarification with respect to the obligation to adopt the Real Profits accrual basis.

In fact, it argued that the factoring firms engaged in the purchase or other onerous acquisition of business credit rights, understanding as such those resulting from term business sales or provision of services, have to calculate the Income Tax and the Social Contribution on Profit according to the real profits basis.

(Enquire Solution n. 317, Dec. 18.2012, DOU-I, Feb. 04.2013).