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24 / 09 / 2020

New rules for tax deduction on credits against third parties

Law n. 14.043/20 brought, in its art. 18, an important tax change for companies taxed by taxable income.

The article in question allows taxpayers to stop filing an action for the collection of unsecured debts in excess of BRL 100 thousand or with guarantee, overdue for more than two years, if the value is greater than BRL 50 thousand to deduct such amounts basis of the IR and CS.

With the entry into force of the new procedure, it will be enough for the company to protest the debt in a public notary to deduct the amounts from the IR and CS calculation basis.

Our team is available to assist in this and other tax law issues. Further information by e-mail: rmarques@zaslaw.com.br or zaslaw@zaslaw.com.br.