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Brazil raises threshold on simplified VAT reporting

  • VAT
  • 09 September 2015 | Richard Asquith

Brazil raises threshold on simplified VAT reporting

The threshold under which small businesses may qualify for the simplified tax and state ICMS reporting regime has been changed. Small companies with an turnover below the new threshold of Brazlian Real 14.4 million may now opt to report under the regime – the previous threshold was Real 3 million.

The regime covers charging and reporting of state Value Added Tax (Brazilian ICMS), corporation tax and municipal City taxes. It was introduced to reduce the burden of reporting in one of the most complex regimes in the world.

Microbusinesses have also had their threshold raised to Real 900,000 per annum.


VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.