The plenary of the Chamber of Deputies rejected, from 289 to 153, a change in the text of the reform of the Income Tax that would maintain exempt from taxation on dividends the profits already taxed at the current rates of IRPJ and CSLL, totaling 34%. The measure could further impact the government’s revenue and, therefore, represented a victory for the economic team. According to the rapporteur, deputy Celso Sabino (PSDB-PA), the impact could be greater than R$ 100 billion.
In practice, profits calculated up to December 31, 2021 and which are paid or credited by December 31, 2022 to individuals or legal entities would be exempt from the tax rate on dividends, currently approved by the deputies at 15%.
Prominent defenders argued that if dividends distributed from retained earnings were taxed, there would be “double taxation”.
Deputy leader of the PSD in the Chamber, Marco Bertaiolli (SP) said that Congress could not allow “taxing the past”, under penalty of generating legal uncertainty. “We are giving only 12 months for companies to capitalize and pay dividends from past profits,” he said.
Deputy Eduardo Cury (PSDB-SP), the party’s first deputy leader in the House, also cited the risk of judicialization. “To avoid this, profits already taxed at 34% cannot be taxed at another 15%,” he said.
Sabino refuted the arguments and pointed out that IRPJ and IR on dividends distributed to individuals are applied to different taxable events, taxpayers and calculation bases. Therefore, the application of 15% on dividends distributed from profits already taxed would not mean double charging.
The rapporteur also drew attention to the “budgetary risk”. He quoted data from the Federal Revenue to say that there are currently R$ 1.7 trillion in accumulated profits in companies.
“Allowing these profits to be distributed over the next few years in an indistinct and exempt way will cause a loss of more than R$ 100 billion,” he said. “If we approve this highlight, we will spend another five years without collecting dividends. Companies will choose to distribute what is accumulated. This goes against our budgetary responsibility,” said Sabino.
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source https://pledgetimes.com/chamber-rejects-highlight-of-exemption-from-new-incidence-of-irrf-on-taxed-income-istoe-dinheiro/
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