In digital sessions from June 02, 2023 to June 12, 2023, Brazil’s Supreme Federal Court (Supremo Tribunal Federal/STF) will resume judgment on the (un)constitutionality of the requirement of PIS and COFINS taxes on the revenue of financial institutions under the regime of Law 9,718/98, prior to Law 12,973/2014.
Minister Dias Toffoli had requested to review the case following the vote of rapporteur Minister Ricardo Lewandowski – which was favorable to the financial institutions and concluded that only gross revenue from the sale of products and provision of services can be included in the calculation basis of the exaction up to the edit of Constitutional Amendment 20/1998.
On that occasion, the following thesis was suggested: “The concept of billing as a calculation basis for the collection of PIS and COFINS vis-à-vis financial institutions is the revenue from banking, financial and credit activities arising from the sale of products, services or products and services, up to the advent of Constitutional Amendment 20/1998.”
For more information, please contact our Tax team at ([email protected]).