Brazil: Extended Tax Incentive Deadline
Recently enacted Law No. 13.799/2019 extends the due date for companies to apply for a 75% reduction in corporate income tax and additional non-refundable amounts calculated on the basis of operating profit from December 31, 2018 to December 31, 2028. This extension will allow companies with new and expiring projects to take advantage of tax incentives. The tax incentives apply to companies that are part of specific economic sectors with projects that fall under one or more of the following categories: implementation, expansion, modernization and diversification.