Brazil: Income Tax Reform approved by The Chamber of Deputies on 09/01/2021 overnight, but ammendments will be voted today and the Bill of Law may still be changed

On 09/01/2021 overnight, the Plenary of the Chamber of Deputies voted and approved Bill of Law 2,337/2021, which relates to the tax reform of the Income Tax and the Social Contribution on Net Profits.

The approved Bill of Law was the replacement one presented by Rapporteur Celso Sabino (PSDB-PA). However, it cannot yet be considered as final as the Plenary intends to vote today, 09/02/2021, several amendments proposed by deputies and leaders of political parties. Considering the uncertainties surrounding Bill of Law 2,337/2021, we will continue monitoring its progress and will publish our comments as soon as the final text of Bill of Law 2337/2021 is officially released by the Chamber of Deputies. Once approved by the Chamber of Deputies, the Bill of Law will be analyzed and voted by the Federal Senate.