Interview for Infomoney. Read the full text
Approved this past September 30 by the Senate, Supplementary Bill 108/2024 (PLP 108) amends the general rules for the collection of taxes on the transfer of assets, such as the ITCMD (on inheritances and donations) and the ITBI (on transfers of real property between living persons).
The proposal is part of the regulation of the Tax Reform and seeks to standardize criteria among states and municipalities. Experts heard by InfoMoney, however, warn that, in practice, the changes may weigh on the wallet of the Brazilian middle class, increasing the tax burden and generating more litigation involving the market value of assets.
Today, the rates of the ITCMD vary among the states, ranging from 2% to 8%. Some apply fixed percentages, such as São Paulo, with 4%. PLP 108 establishes that all units of the federation will have to adopt progressive rates, which increase according to the value transmitted.
The text also broadens the calculation base: the tax will come to be levied on the market value of the assets, and no longer on book or assessed (venal) values. In the case of company quotas and family holdings, the valuation will include the adjusted net equity, the assets at market value, and even the goodwill (fundo de comércio).
“This rule may considerably increase taxation, especially for small family businesses,” explains Juliana Assolari, partner at Lassori Advogados. “In addition to the increase in cost, there is the risk of controversies in the determination of the goodwill value,” she adds.
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