The Brazilian Federal Revenue Service (Receita Federal) has announced that the failure to file IBS and CBS tax returns will not result in immediate penalties, as sanctions can only be applied after the issuance of a specific regulation governing the new ancillary obligations arising from the tax reform on consumption.

According to the Receita Federal, although the Tax on Goods and Services (IBS) and the Contribution on Goods and Services (CBS) are already provided for in legislation, the imposition of fines and penalties depends on the formal definition of operational rules, deadlines, and filing formats, which will still be subject to future regulation.

The agency clarified that, until these rules are published, taxpayers cannot be fined solely for not submitting the returns, ensuring legal certainty during the transition from the current tax system to the new model established by the reform.

This statement aims to reduce uncertainty for companies and tax professionals regarding the new tax obligations, emphasizing that full enforceability of the returns will be contingent upon regulation.

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