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Brazil: ICMS tax base reduction

ICMS tax base in Brazil

Guidance published in December 2015 concerns a reduction of the ICMS tax base with respect to operations involving industrial and agricultural equipment.


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ICMS No. 154/2015 was published in the federal official gazette on 15 December 2015 and affects Convênio ICMS nº 52/1991.

The ICMS—Imposto sobre Circulação de Mercadorias e Serviços—is a state-level sales tax imposed on the physical movement of merchandise. The ICMS is also levied on certain inter-state and inter-municipal services.


Read a January 2016 report (Portuguese) [PDF 54 KB] prepared by the KPMG member firm in Brazil: Alterações acerca do Convênio ICMS nº 52/1991

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