What taxes do we pay?You have surely wondered which taxes you have to pay. In Brazil, they are divided into federal, state and municipal taxes, according to the level of government that levies and receives them: the Union, the states (and the Federal District) or the municipalities. "Tributo" is the general term in Brazilian law; taxes proper (impostos), fees (taxas) and contributions (contribuições) are types of it. In everyday speech, however, almost everything is called a "tax".Taxes can be charged to individuals or companies: consumers, businesses, workers and owners of property (as with IPVA, for example).This article describes the system in force in 2026, which is in transition: the tax reform (Constitutional Amendment 132/2023 and Complementary Law 214/2025) will replace five consumption taxes with three new ones by 2033. It has its own section further on.Let us look at the main taxes:Federal taxesImport Tax (II)The II applies to products brought in from abroad and falls under the Union's jurisdiction. The rate varies by product, according to the Mercosur Common External Tariff.For international purchases by individuals under the parcel regime (the Remessa Conforme programme), the rules have changed several times. In 2026, parcels of up to US$ 50 stopped paying Import Tax: the 20% charge (the so-called "taxa das blusinhas") was eliminated by a provisional measure in May 2026, which became law in September. Parcels above that amount are still taxed, and the state ICMS is still charged on all of them. Check the current rule with the Federal Revenue before doing the maths.Export Tax (IE)The IE applies to national or nationalised products leaving for abroad. In practice, most exports have a zero rate, because Brazil tries not to export taxes.Tax on Financial Operations (IOF)The IOF applies to credit operations (loans and financing), foreign exchange, insurance and securities. Its rates can be changed by decree, and they were in 2025 (Decrees 12,466 and 12,499). Main rates in 2026:OperationIOF rateInternational card purchases (credit, debit or prepaid)3.5%Purchase of foreign currency in cash3.5%Remittances abroad (general rule)3.5%Credit for individuals (personal loans, overdraft, revolving credit card balance, financing)0.38% + 0.0082% per dayResidential property financingExemptLife and personal accident insurance0.38%Private health insurance2.38%Other insurance (including vehicles)7.38%Redemption of fixed-income investments within 30 daysFrom 96% to 0% of the yield, depending on the number of daysTax on Industrialized Products (IPI)The IPI applies to industrialised products, domestic or imported. Taxpayers are industrial establishments (and those treated as such) and importers; a trader who only resells does not pay IPI.The rate is different for each product. Check the IPI Incidence Table (TIPI, on the Federal Government website, to find the rate for the product you sell).With the tax reform, from 2027 IPI rates will be reduced to zero, except for products that are also manufactured in the Manaus Free Trade Zone, to preserve the region's competitive advantage.Individual Income Tax (IRPF)The IRPF applies to the income of individuals, such as salaries, rents and capital gains. On salaries, it is withheld at source by the employer every month. The monthly table in force since May 2025 is:Tax base (R$)Rate (%)Amount to deduct (R$)Up to 2,428.8000From 2,428.81 to 2,826.657.5182.16From 2,826.66 to 3,751.0515394.16From 3,751.06 to 4,664.6822.5675.49Above 4,664.6827.5908.73Since January 2026, Law 15,270/2025 added a reduction to the tax calculated from the table: anyone with taxable income of up to R$ 5,000.00 a month is exempt, and between R$ 5,000.01 and R$ 7,350.00 the reduction shrinks gradually until it disappears. The same law created, from 2026, a minimum tax for those earning more than R$ 600 thousand a year and a 10% withholding on profits and dividends paid by the same company to the same individual above R$ 50 thousand in a month.Corporate Income Tax (IRPJ)The IRPJ applies to company profits. The rate is 15% on actual, presumed or arbitrated profit, with a 10% surtax on the portion of profit above R$ 20 thousand a month (R$ 60 thousand a quarter or R$ 240 thousand a year).Under Lucro Real (the actual-profit regime), the base is accounting profit adjusted by the additions and exclusions set by law. Under Lucro Presumido (the presumed-profit regime), the base is a fixed percentage of gross revenue, depending on the activity:ActivityPresumed profit for IRPJResale of fuels1.6%Trade, industry, freight transport and hospital services8%Passenger transport (except freight)16%Services in general32%Since 2026, Complementary Law 224/2025 has increased these percentages by 10% on the portion of annual gross revenue above R$ 5 million (for IRPJ since January; for CSLL since April). The measure is being challenged before the Federal Supreme Court.Micro and small companies with gross revenue of up to R$ 4.8 million a year can opt for the Simples Nacional (Brazil's simplified tax regime for small businesses), which combines IRPJ, CSLL, PIS, Cofins, IPI, ICMS, ISS and the employer's social security contribution into a single monthly payment slip, the DAS. The employer's contribution is left out of the DAS for activities in Annex IV.Rural Land Tax (ITR)The ITR is charged to the owner, the holder of the useful domain or the possessor of rural property. The base is the Taxable Bare Land Value (VTNT), obtained by multiplying the Bare Land Value (VTN) by the ratio between the taxable area and the total area of the property (Law 9,393/1996, art. 10). The rate ranges from 0.03% to 20%, depending on the size of the property and the degree to which the land is used: the less productive the land, the higher the rate.Contribution for Intervention in the Economic Domain (CIDE-Combustíveis)CIDE-Combustíveis applies to the import and sale of oil, natural gas and their derivatives and of ethyl alcohol fuel. It is paid by producers, blenders and importers of these fuels.Law 10,336/2001 sets the contribution in reais per cubic metre (or per tonne) and allows the Executive to reduce these amounts, even to zero, by decree. That is why the amounts have changed many times: in 2004, for example, Decree 5,060 set R$ 100.00 per cubic metre of gasoline and R$ 50.00 per cubic metre of diesel, and since then they have been zeroed and reinstated. Check the decree in force before using a figure.Cofins and PIS/PasepThe Contribution for the Financing of Social Security (Cofins) and the PIS/Pasep contribution (Social Integration Programme and Public Servant Asset Formation Programme) apply to company revenue. Simples Nacional companies also pay them, but inside the DAS.As a general rule, under the cumulative regime (used by companies under Lucro Presumido), the rates are 0.65% for PIS and 3% for Cofins, with no credits. Under the non-cumulative regime (mandatory for most Lucro Real companies), they are 1.65% and 7.6%, with credits on inputs and other purchases. On the financial income of non-cumulative companies, the combined rate is 4.65%.With the tax reform, PIS and Cofins will be abolished on 1 January 2027 and replaced by the CBS.Social Contribution on Net Profit (CSLL)The CSLL applies to company profits, calculated in the same way as IRPJ (actual, presumed or arbitrated). The rate is 9% for companies in general. The financial sector has higher rates: 15% for insurers and other institutions and 20% for banks. Since April 2026, LC 224/2025 has raised the rate for other financial segments, such as payment institutions (fintechs).Severance Indemnity Fund (FGTS)The FGTS applies to the pay of employees with a formal employment contract and is deposited by the company into an account linked to the employee, with no deduction from the salary. The rate is 8% of pay (2% for apprentices). Under case law (STJ Precedent 353), the FGTS is not a tax but a worker's right; it appears here because it weighs on the payroll in the same way.Social security contribution (INSS)The contribution to the National Social Security Institute (INSS) funds retirement, survivors' pensions, temporary incapacity benefit (formerly sickness benefit), accident benefit and other benefits. It is charged to both the employee and the company.The employee's share is deducted from the salary, with progressive rates applied band by band, up to the ceiling. 2026 table:Contribution salary (R$)Progressive rateUp to 1,621.007.5%From 1,621.01 to 2,902.849%From 2,902.85 to 4,354.2712%From 4,354.28 to 8,475.5514%The company's share is, as a rule, 20% of the payroll, with no ceiling, plus the occupational accident risk contribution (RAT, 1% to 3%, adjusted by the FAP factor) and contributions to third parties (education salary, the "S System" training bodies, Incra and Sebrae). Simples Nacional companies pay the employer's share inside the DAS, except those in Annex IV.A company under Lucro Real had taxable profit of R$ 100,000 in the quarter. How much IRPJ does it pay, including the surtax?Answer: R$ 19,000 — 15% of R$ 100,000 is R$ 15,000; the 10% surtax applies only to the amount above R$ 60,000 in the quarter: 10% of R$ 40,000 = R$ 4,000. The R$ 25,000 figure comes from applying the surtax to the whole profit.State taxesTax on the Circulation of Goods and Services (ICMS)The ICMS applies to the circulation of goods (including imports) and to interstate and intermunicipal transport and communication services. It is the tax that raises the most revenue in the country. Internal rates are set by each state and, in 2026, the general rate is usually between 17% and 23%. In operations between states, the rates are 7% or 12%, depending on origin and destination, and 4% for imported products. Fuels pay a fixed amount per litre, charged only once.With the tax reform, ICMS will be reduced gradually from 2029 to 2032 and abolished in 2033, replaced by the IBS.Tax on the Ownership of Motor Vehicles (IPVA)IPVA is charged annually to owners of motor vehicles. Each state sets its own rates, which usually range from 1% to 4% of the vehicle's market value, depending on type and fuel; São Paulo, for example, charges 4% for passenger cars. With Constitutional Amendment 132/2023, IPVA may now also cover boats and aircraft (with exceptions) and have different rates according to the vehicle's environmental impact.Tax on Inheritance and Donations (ITCMD)The ITCMD applies to inheritances and gifts and falls under the jurisdiction of the states and the Federal District. The base is the market value of the assets or rights transferred. Each state sets its own rate, up to the 8% ceiling set by the Federal Senate. Since Constitutional Amendment 132/2023, the ITCMD must be progressive, that is, with higher rates for larger inheritances and gifts, and the states have been adapting their laws.Municipal taxesUrban Property Tax (IPTU)The IPTU applies to the ownership of urban property: houses, apartments, warehouses, commercial buildings, land and so on. It is calculated on the property's assessed value, with rates set by each municipality, which may vary according to use (residential or not) and the value of the property. In São Paulo, for example, the basic rate is 1% for residential property and 1.5% for other property, with discounts or increases depending on the assessed value.Service Tax (ISS)The ISS is charged to companies and self-employed professionals on the services they provide. The rate varies by municipality, between the minimum of 2% and the maximum of 5% set by complementary law, on the price of the service.With the tax reform, ISS will be reduced gradually from 2029 to 2032 and abolished in 2033, replaced by the IBS.Tax on Inter Vivos Transfer of Real Estate (ITBI)The ITBI, also known as SISA, applies to the purchase and sale and other paid transfers of real estate between living persons. The rate is set by each municipality, usually between 2% and 3% (3% in São Paulo). Many municipalities apply a reduced rate to the portion financed through the Housing Finance System (SFH), up to a limit. In that case, the calculation is:Tax = F × reduced rate + (BC − F) × general ratewhere F is the amount financed through the SFH (up to the municipality's limit) and BC is the tax base. Example in a hypothetical municipality with a reduced rate of 0.5% and a general rate of 3%: a property worth R$ 500,000.00, with R$ 100,000.00 financed through the SFH. Tax = 100,000 × 0.005 + 400,000 × 0.03 = 500 + 12,000 = R$ 12,500.00.The tax reform: CBS, IBS and Selective TaxConstitutional Amendment 132/2023, regulated by Complementary Law 214/2025, replaces five consumption taxes (PIS, Cofins, IPI, ICMS and ISS) with a dual Value Added Tax (VAT) and an extrafiscal tax:CBS (Contribution on Goods and Services), federal, which replaces PIS and Cofins;IBS (Tax on Goods and Services), of the states and municipalities, which replaces ICMS and ISS;Selective Tax (IS), federal, levied only once on goods and services harmful to health or the environment, such as cigarettes, alcoholic drinks, sugary drinks, vehicles and mineral extraction.The main features of CBS and IBS are: charged "on top" (the tax is not part of its own base); broad non-cumulativity, with credit for practically everything the company buys for its business; taxation at destination (the tax goes to the place of consumption, not of production); and the possibility of automatic collection at payment (split payment). There are rates reduced by 60% for sectors such as health and education, a zero rate for the national basic food basket and a refund of part of the tax to low-income families (cashback). The final rates will be set by Senate resolution; Ministry of Finance estimates point to around 28% for CBS and IBS combined.The Simples Nacional continues to exist. From 2027, companies under it may choose to pay CBS and IBS outside the DAS, so that their customers can take full credits.The transition is gradual:YearWhat happens2026Test year: CBS of 0.9% and IBS of 0.1% shown on invoices. The amount can be offset against PIS and Cofins, and those who comply with the ancillary obligations (such as showing the new taxes on the invoice) are exempt from paying it. All other taxes continue as normal.2027CBS is charged in full; PIS and Cofins are abolished; IPI has a zero rate (except for products competing with the Manaus Free Trade Zone); the Selective Tax begins. IBS stays at 0.1%.2028Same model as 2027.2029 to 2032ICMS and ISS are reduced to 90%, 80%, 70% and 60% of current rates, one step per year, while IBS rises in the same proportion.2033ICMS and ISS are abolished; only CBS, IBS and IS remain.In the accounts, the logic of CBS and IBS will be similar to that of ICMS and non-cumulative PIS/Cofins: the tax paid on purchases goes to assets as "recoverable", the tax charged on sales goes to liabilities as "payable", and the company pays the difference. As the credit will be broad, these taxes will tend not to be part of the cost of goods.What happens to CBS and IBS in 2026, the test year of the tax reform?Answer: They are shown on invoices at 0.9% and 0.1%, and those who comply with the ancillary obligations are exempt from paying them — 2026 is a calibration year. PIS and Cofins are only abolished in 2027, and ICMS and ISS fall gradually from 2029 to 2032 until they end in 2033."Inside" and "outside" taxesAn "inside" tax (por dentro) is one that is part of its own tax base: the tax is already embedded in the price of the goods. ICMS is the classic example.An "outside" tax (por fora) is calculated on the price and added to it: the amount appears separately and increases the invoice total. IPI is the classic example, and CBS and IBS will also be charged on top.Inside example: a product sold for R$ 1,000.00, with 12% ICMS. The ICMS shown on the electronic invoice (NF-e) is 1,000 × 12% = R$ 120.00, which is already inside the R$ 1,000.00. The product's value without ICMS is 1,000 − 120 = R$ 880.00. Working backwards: 880 ÷ (1 − 0.12) = R$ 1,000.00. Note that, on the net R$ 880.00, the ICMS represents 13.64%, not 12%.Outside example: the same R$ 1,000.00 product (with ICMS embedded) has 10% IPI. The IPI is 1,000 × 10% = R$ 100.00, added to the price, and the invoice total comes to R$ 1,100.00.A company wants to receive R$ 800 net for a product, and the 20% ICMS is calculated inside the price. What price must it charge?Answer: R$ 1,000 — since ICMS is inside the price, the net amount is divided by (1 − 0.20): 800 ÷ 0.80 = 1,000. The R$ 960 figure comes from adding 20% to the net amount, as if the tax were charged on top.Tax withholding at sourceWithholding at source happens when the law transfers the obligation to pay the tax to the payer. The payer deducts the tax from the amount due and passes it on to the government. This improves collection and increases the chances that taxes are paid on time.The best-known example is salary. An employee with a formal contract earns R$ 8,000.00 a month. The company deducts INSS (R$ 921.51 under the 2026 table) and calculates Income Tax on the rest: base of 8,000.00 − 921.51 = R$ 7,078.49; tax of 7,078.49 × 27.5% − 908.73 = R$ 1,037.85 (no dependants; above R$ 7,350.00 there is no 2026 reduction). Instead of the employee paying the tax directly to the Federal Revenue, the company deducts it from the salary and pays it over. An employee earning R$ 5,000.00 a month, on the other hand, has had no income tax withheld since January 2026.Between companies, the most common withholdings on payments for services are:IRRF (income tax withheld at source) of 1.5% on professional services (and 1% on cleaning, maintenance, security and surveillance);PIS, Cofins and CSLL (CSRF), 4.65% in total, on services such as cleaning, security, advisory and professional services;INSS of 11% (or 3.5%, if the contractor is under payroll tax relief) on labour supply and contract work;ISS, when the municipality's law requires withholding.Whether each withholding is due depends on who pays, who receives and the type of service. Simples Nacional companies, for example, are generally not subject to IRRF and CSRF withholding on the services they provide. For the payer, the amount withheld is a liability (tax payable) until it is passed on; for the recipient, it is an asset (tax to offset), which will be deducted from the tax due.Taxes on the Balance Sheet: asset or liability?Regarding taxes, there are three situations: payable, refundable (or to offset) and recoverable.Taxes payable (liability)Taxes payable are obligations: amounts the company owes the government and has not yet paid. They sit in Current Liabilities, under names such as ICMS Payable, IRRF Payable, IRPJ Payable or Simples Nacional Payable.For example, if your company is under the Simples Nacional, every month it calculates the amount and issues the DAS, the payment slip. Between calculation and payment, this amount is a tax payable.So is a tax payable an asset or a liability? A liability, because it is an obligation of the company: an amount that will leave the cash account to settle a debt.Taxes refundable or to offset (asset)Taxes refundable or to offset are amounts the company overpaid or paid in advance and has the right to get back or deduct from future taxes. Examples: a tax paid twice or in excess, IRPJ and CSLL paid in monthly estimates during the year that exceeded what was due at the annual adjustment, and IRRF withheld by customers on services provided. As they represent a right of the company, they sit in assets.Recoverable taxes (asset)Recoverable taxes are credits that arise on purchases and will be used to reduce the tax due on sales. They exist because of non-cumulativity, provided for in the Constitution for ICMS and IPI and, by law, for PIS and Cofins under the non-cumulative regime.Imagine a production chain with the timber supplier "Madeirex", which sells raw material to the furniture maker "Imolar", which in turn sells to the store "Varejo do Fulano". If each stage paid tax on the full price, the tax paid at the previous stage would be taxed again at the next one (the so-called cascade effect), and goods would become more and more expensive along the chain.Non-cumulativity exists to prevent this: the tax paid on a purchase becomes a credit that the company deducts from the tax due on the sale. That way, each stage only pays tax on the value it added.Example with 18% ICMS. Imolar buys timber for R$ 10,000.00, with R$ 1,800.00 of ICMS embedded:Dr – Inventories: R$ 8,200.00Dr – ICMS Recoverable (asset): R$ 1,800.00Cr – Suppliers: R$ 10,000.00Then it sells the furniture for R$ 15,000.00, with R$ 2,700.00 of ICMS:Dr – Accounts Receivable: R$ 15,000.00Cr – Gross Sales Revenue: R$ 15,000.00Dr – ICMS on Sales (revenue deduction): R$ 2,700.00Cr – ICMS Payable (liability): R$ 2,700.00At the end of the month, it offsets the credit against the debit:Dr – ICMS Payable: R$ 1,800.00Cr – ICMS Recoverable: R$ 1,800.00That leaves R$ 900.00 of ICMS payable, that is, 18% of the R$ 5,000.00 that Imolar added. Adding what Madeirex and Imolar paid (R$ 1,800.00 + R$ 900.00), the state received R$ 2,700.00, exactly 18% of the final price.In the month, a company bought goods for R$ 20,000 with 18% ICMS embedded and sold them for R$ 30,000, also with 18% ICMS. How much ICMS does it pay for the month?Answer: R$ 1,800 — the debit on the sale is 18% of 30,000 = R$ 5,400; the credit on the purchase is 18% of 20,000 = R$ 3,600; the difference is paid. Paying the full R$ 5,400 would ignore non-cumulativity.How taxes appear in the DREIn the DRE (Demonstração do Resultado do Exercício, the Brazilian income statement), taxes appear in different places, depending on their nature:Taxes on revenue (ICMS, ISS, PIS, Cofins and, under the Simples Nacional, the DAS): deducted from gross revenue to arrive at net revenue;Recoverable taxes on purchases (ICMS, IPI, PIS and Cofins that generate credits): not included in the cost of goods; they go to assets as recoverable taxes;Taxes that do not generate credits (for example, IPI paid by a trader): part of the cost of inventory;Property taxes and fees (IPTU, IPVA, fees): recorded as operating expenses;Taxes on profit (IRPJ and CSLL): appear after Profit Before Income Tax (LAIR), at the end of the DRE.Continuing the Imolar example, assume operating expenses of R$ 1,600.00 (including IPTU and fees) and IRPJ and CSLL under Lucro Real of 15% + 9% = 24% (the 10% surtax does not apply, because profit is below R$ 20 thousand in the month). For simplicity, we ignore PIS and Cofins:DRER$Gross sales revenue15,000.00(−) ICMS on sales(2,700.00)(=) Net revenue12,300.00(−) Cost of goods sold (without recoverable ICMS)(8,200.00)(=) Gross profit4,100.00(−) Operating expenses(1,600.00)(=) Profit before IRPJ and CSLL (LAIR)2,500.00(−) IRPJ (15%) and CSLL (9%)(600.00)(=) Net profit1,900.00When accounting profit and taxable profit are recognised at different times (for example, depreciation with an accounting useful life different from the tax one), the deferred taxes of CPC 32 (the Brazilian pronouncement on income taxes, equivalent to IAS 12) arise: a deferred tax asset (tax that will be lower in the future) and a deferred tax liability (tax that will be higher in the future).Where does the ICMS charged on sales appear in the DRE?Answer: As a deduction from gross revenue, before net revenue — ICMS, ISS, PIS and Cofins are taxes on revenue. After the LAIR only taxes on profit (IRPJ and CSLL) appear.What happens when the company has a tax credit?Every company subject to a non-cumulative tax is entitled to credit for what was paid at previous stages, within the limits of the law. But the nature of each tax must be respected: you cannot use an IPI credit to reduce an ICMS debit.Notice through the chain how the same tax can be paid several times, which gives you a tax creditThis is because IPI is a federal tax, which goes to the Union's coffers, while ICMS is a state tax and goes to the state's Finance Department. On the balance sheet, recoverable taxes are classified in Current Assets (or in Non-Current Assets, if they can only be used after 12 months).If credits exceed debits, the credit balance carries over to the following month. In some situations (such as exports), the law allows this balance to be used to pay other taxes, transferred to third parties or refunded in cash. With CBS and IBS, the refund of credit balances becomes a general rule.Exercises1) (Fundação para o Vestibular da Universidade Estadual Paulista - VUNESP - 2019) Regarding taxes on the purchase and sale of goods, unlike ICMS, IPI is calledA) an outside tax, since the rate is applied to the price of the product.B) an outside tax, since the rate applied is part of the final price.C) an inside tax, since the rate is applied to the price of the product.D) an inside tax, since its amount is part of the price of the product.E) an inside tax, since operations from other states are deducted from its amount.2) (Fundação Brasileira de Contabilidade - FBC - 2012) A business company acquired, in June, 100 units of a product at a unit price of R$10.00, with 18% ICMS included in the price.In another acquisition, still in the same month, but from an out-of-state supplier, the invoice showed the following amounts: Quantity acquired 200 units. Unit cost R$9.00. Total invoice amount R$1,800.00. ICMS rate 12%.Still in June, all 300 units were sold at a unit price of R$15.00. The ICMS rate on the sale is 18%. Select the option that shows the Gross Profit for June.A) R$890.00.B) R$1,226.00.C) R$1,286.00.D) R$1,394.00.3) (Centro de Seleção e de Promoção de Eventos UnB - CESPE CEBRASPE - 2008) A company had a balance of ICMS recoverable of R$ 20,000.00 and ICMS payable of R$ 45,000.00. The company acquires goods for resale worth R$ 70,000.00, with 17% ICMS. The entry for payment of ICMS in the period, using the tax credits, should be a debit to ICMS payable of R$ 45,000.00, a credit to ICMS recoverable of R$ 31,900.00 and a credit to cash of R$ 13,100.00. TRUE or FALSE?4) (Fundação de Estudos e Pesquisas Socioeconômicos - FEPESE - 2022) The company Volentieri hired, for R$ 10,000, a company not opting for the Simples Nacional to provide document translation services (a service of a professional nature). In this case, when paying the contractor, Volentieri must withhold, as income tax at source, the amount of:A) R$ 2,750.B) R$ 2,000.C) R$ 1,100.D) R$ 150.E) R$ 50.5) (SELECON - 2023 - Prefeitura de Nova Mutum - MT - Agente de Fiscalização Tributária) Under the Tax Code of the Municipality of Nova Mutum (Complementary Law 184/2018), updating the monetary value of the IPTU (Urban Property Tax) base by an official index constitutes:A) an increase in the tax, subject to the relevant constitutional principlesB) an update of the tax assessed ex officio by the tax inspectorC) an automatic increase in the tax, recognised by decree of the MayorD) a mere update, which does not represent an increase in the tax6) (VUNESP - 2023 - CAMPREV - SP - Contador) A trading entity bought for cash 90,000 units of goods for resale at R$ 4.50 each. The supplier does not offer freight, so the entity hired another entity that charged R$ 3,600.00 in freight so that the goods would be available for sale.The purchase of goods is subject to 12% ICMS, which is recoverable in the entity's sector.Considering the information presented, it is correct to state that the unit cost of the goods acquired, in R$, was:A) 3.96B) 4.00C) 4.50D) 4.54E) 5.007) (Avança SP - 2021 - Prefeitura de Vinhedo - SP - Fiscal de Rendas) The departure of national or nationalised products from the national territory is the taxable event of the following tax:A) IE.B) ISS.C) IOF.D) ICMS.E) ITBI.8) (FGV - 2023 - CGE-SC - Auditor do Estado - Ciências Contábeis - Tarde (Conhecimentos Específicos)) Select the option that indicates an event that will result in the recognition of a deferred tax liability, according to Technical Pronouncement CPC 32 - Income Taxes.A) Recognition of a provision for contingencies.B) Sale at a loss of a fixed asset whose accounting and tax useful lives are different.C) Recognition of depreciation of an asset whose accounting useful life is longer than its tax useful life.D) Recognition of a tax loss by an entity with no prospect of future profits.E) Recognition of a tax loss by an entity with prospects of future profits.Solutions with explanations1) A. IPI is calculated on the price and added to it (outside); ICMS is embedded in the price (inside).2) C. Cost of the 1st purchase: 1,000 − 180 (18%) = 820. Cost of the 2nd: 1,800 − 216 (12%) = 1,584. COGS: 2,404. Gross revenue: 300 × 15 = 4,500; ICMS on sales: 810; net revenue: 3,690. Gross profit: 3,690 − 2,404 = R$ 1,286.3) True. ICMS recoverable: 20,000 + 17% × 70,000 (11,900) = 31,900. Payment: 45,000 − 31,900 = 13,100 in cash.4) D. IRRF of 1.5% on professional services: 10,000 × 1.5% = R$ 150.5) D. Under the National Tax Code (art. 97, § 2), monetary updating of the tax base is not a tax increase.6) B. 90,000 × 4.50 = 405,000; less recoverable 12% ICMS (48,600) = 356,400; plus freight of 3,600 = 360,000; divided by 90,000 units = R$ 4.00.7) A. Exporting is the taxable event of the Export Tax (IE).8) C. If the accounting useful life is longer than the tax one, the tax authorities allow depreciation to be deducted faster than the accounts recognise it; the tax paid today is lower and will be higher in the future, which creates a deferred tax liability.
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