Brazilian Federal Revenue Service’s Normative Instruction regulates the zero tax rate benefits of the Perse Law


In brief

On November 1st, 2022, Normative Instruction (IN) 2,114/2022 was published, bringing provisions on the application of the tax benefit of 0% rate of IRPJ/CSLL and PIS/COFINS, provided in art. 4 of Law 14,148/2021 (Perse Law). The Perse Law established emergency actions for the events industry to compensate for the effects of the Covid-19 pandemic.

The Normative Instruction brings some clarifications, innovations, and limitations about the application of those tax benefits. Below we detail the main points addressed by the IN.

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