Guidance (SINIEF nº 13/15) published in the official gazette on 15 December 2015 establishes the following schedule of deadlines for the required electronic bookkeeping for ICMS and IPI:
Read a December 2015 report (Portuguese) [PDF 51 KB] repared by the KPMG member firm in Brazil: Bloco K - SPED - EFD ICMS/IPI
In Brazil, there are electronic or digital bookkeeping requirements for ICMS-IPI. The control of production and inventory field (referred to as bloco K or “block K”) in the digital tax bookkeeping system (EFD) for purposes relating to the state-level sales tax and federal excise tax—ICMS-IPI—provides information relating to the production of and stock of goods held by a company and also held by third parties.
In October 2015, guidance set forth a timetable for compliance with the digital bookkeeping requirements, with implementation to be phased in from 2016 to 2018, depending on the industry sector and/or annual revenue.
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