In a recent decision, the Administrative Council of Tax Appeals (CARF) concluded, by a casting vote, that revenue from the Anticipation of Sales Receivables (ARV) made by credit card companies should be classified as gross operating revenue and not as financial revenue, for the purposes of calculating PIS and COFINS.
The case involved a taxpayer who treated ARV's revenues as financial, applying reduced PIS and COFINS rates. The tax authorities disagreed, arguing that these revenues should be treated as operational, with full taxation (9.25%).
Rapporteur José Renato Pereira de Deus argued that the advance payment of receivables is a financial operation, similar to the interest charged on credit operations. He also argued that anticipation should not be equated with factoring, as there is no definitive assignment of credit, only an advance.
However, the view of Commissioner Lázaro Antônio Souza Soares prevailed, considering that the nature of the revenue is operational, as it is directly linked to the activity of the accreditation company in facilitating commercial transactions. Lázaro also noted that the anticipation of receivables is, in practice, a service similar to factoring, since it involves a discount on credits to be received in the future. He pointed out that this activity is carried out on an ongoing basis and represents 28% of the taxpayer's operating revenue.
Although the decision can still be reviewed, it reflects CARF's tendency to treat as operating revenue those activities directly linked to the company's core business, representing a continuous and relevant source of revenue.
For more information, please contact: tributarioconsultivo@btlaw.com.br