Bill 115/2019 is processing at the National Congress, which has the objective of implementing a new policy on the provision of information regarding federal tax collection.
Entitled “Tax Transparency Law,” the new text promises to impose major changes in the accounting and tax management routine of the companies in the Country. The declaration and collection of taxes, fees and federal contributions will be monthly, via internet, until the 15th business day of the month subsequent to the generator fact. In addition, more detailed statements will be required of taxpayers, identifying, for example, the activity that led to the collection.
The Tax Authority will also be allowed to do a broad analysis of taxpayers’ performance, allowing the tax authorities to compare the taxpayer’s ascertained results in previous years.
According to Bruno Zaroni, founding member of Zaroni Advogados, the measure represents a strong trend in the relationship between Tax Authorities and taxpayers, in an increasingly close and real-time monitoring and supervision of business activities. “The measure demands not only a transparent performance, but also a rigging of these companies to show, ostensibly and constantly, to the Tax Authority the situation of regularity, avoiding unnecessary inspections and assessments,” he says.
Since February of this year, the Bill has been under analysis by the Labor, Administration and Public Service Committees; Finance and Taxation; and the Constitution and Justice and Citizenship, where it will undergo by intense discussions before being finally submitted to a vote in the Chamber of Deputies.