Brazil Extends Deadline to Specify Taxes on Invoices: Key Highlights
* Companies operating in the country need to list on their invoices and receipts the amount of municipal, state and federal taxes charged for each product. Otherwise, the same information can be displayed on a panel in clear view within the business establishments.
* This requirement was originally slated to come into force from June 2013. However, the new measure has extended the deadline and the obligation will now come in force from June 2014.
* Non compliance would attract penalties in the form of fines, suspension and revocation of business licence, etc.
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