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Brazilian Federal Supreme Court considers constitutional distinctive taxation for financial institutions

Wednesday morning, at the extraordinary meeting, the Brazilian Federal Supreme Court (STF) concluded the trial of two extraordinary appeals that discuss the establishment of differentiated rates for social and welfare system contributions for financial institutions, deciding, by the majority, to dismiss the Extraordinary Appeals (RE) 656089 and 599309. The Plenary also rejected RE 578846, which questioned the increase in the calculation basis and rate of the contribution to the Social Integration Program (PIS).

The trial of the three appeals, all with recognized general repercussions, was resumed on Wednesday with the vote of Justice Marco Aurelio, who was the only one to relief all of them.

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