Congress overrules the presidential veto and postpones the CPRB until 12/2021

Regarding the subject “Social Security Contributions upon Gross Revenues – CPRB” regulated by Law n. 11,546/2011, we inform that, on November 4, 2019, the Brazilian Congress overruled the presidential veto related to items 23 to 24, which deal with articles 33, 34 and 36 of Law no. 14,020 / 2020, as a result of the conversion of Provisional Measure no. 936/2020.

Therefore, the rule now approved allows the annual option for the substitution of the social security contributions upon payroll (20%) for said CPRB.

In practical terms, the exemption from the payroll of 17 sectors of the economy has been extended until 12/2021, and these companies, together, have more than 6 million employees, who are expected to keep their jobs.

Please let us know should you need any further clarification.

This e-alert is a general review of the subjects discussed above and does not constitute a legal opinion or legal consult.