The latest ICMS law ( PLP nº 18/2022 ) was approved in 2022 and brought major changes for the states.
It categorized fuels, electricity, communication and public transport as essential services and goods. Thus, these operations are eligible for the 17% ICMS tax rate limit .
With this limit, the bill granted autonomy to the states and the Federal District to compensate for the loss of revenue in the states during the pandemic. Thus, the the best email subject lines for every industry law determined that the federal units with losses above 5% would have their losses reimbursed by the federal government. With this, the compensatory amount would be refunded from debts with the Union.
This compensation will take place from 2023 onwards if the state does not have any outstanding debts with the government.
What to expect for the area in 2023?
The ICMS rules have caused fear in the states since 2022, with the start of the project’s processing.
This is because governors and finance secretaries feared that the accounts would not balance in the future. At the time, the coffers were full, but from 2023 onwards, it is possible that this deficit in revenue will affect the payment of bills.
Before 2022 ended, the intention was already to analyze saultdata alternatives and changes . This is because the ceiling would focus on compensation, which did not happen.
In other words, the future is still uncertain. However, experts in the field are already predicting the sector’s movement and alternatives for different scenarios.
Therefore, it is up to professionals in the Accounting field to seek specific knowledge and training. This way, when they are sought out by companies and public sectors, they are prepared for different possibilities.
Why is it important to stay up to date with the new ICMS guidelines?
ICMS is considered one of the most important taxes in the country and represents the main source of revenue for the states. Due to the dynamism and complexity pakistan mobile database of the legislation, technical knowledge is required for its management.
The tax’s operational system involves several collection techniques, such as: Advance Payment, Tax Substitution and Differential Rates. In addition, it is also necessary to know the various accessory obligations that complement its operation.
Therefore, shallow and outdated knowledge of tax accounting is detrimental to the competitiveness required by the market. In other words, the more knowledge, the more sought after the professional becomes.
Where can I take the best ICMS course on the market?
IPOG has the best ICMS course on the market .