Restrictions on the Use of Presumed PIS/Cofins Credits and Limitation of Offsets


On June 4, the Ministry of Finance announced strict measures for the use of presumed PIS and Cofins credits, as well as for the offsets of these contributions. The new rules aim to compensate for losses arising from the extension of payroll tax relief. Provisional Measure (MP) 1,227/2024, nicknamed the “Fiscal Balance MP,” is already in effect.

Main Changes:

  1. Presumed PIS/Cofins Credits:
    • Restriction on cash reimbursement, aiming to avoid “negative taxation” or “subsidies” for companies.
    • Credits can only be used to offset other PIS and Cofins debts, generating a positive impact of BRL 11.7 billion on public accounts in 2024.
  2. Credits Appropriated by Non-Cumulativity:
    • Limitation on the use of these credits for offsetting only with PIS and Cofins debts, while maintaining the possibility of cash reimbursement with prior analysis of the credit right.
  3. Control of Tax Benefits:
    • Obligation to inform the Federal Revenue Service of incentives, waivers, benefits, or tax immunities enjoyed.
    • A normative instruction will detail which benefits must be reported, with penalties for non-compliance.
  4. Judgments of ITR Administrative Processes:
    • Authorization for the Federal District and municipalities to conduct judgments of administrative processes regarding the Rural Land Tax (ITR).

Final Considerations

The new rules for the use of presumed PIS/Cofins credits and the limitation of offsets present significant challenges for companies. The restriction on cash reimbursement and the obligation to report tax benefits represent important changes that require increased attention in tax management.

It is essential that companies review their tax strategies and consider the impact of these new measures on their operations. For more details on how these changes might affect your company or for specific guidance, please contact our office. We are available to assist you in understanding and adapting to the new tax rules.


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