Tuesday, September 17, 2013

Tax day: MG revokes 12% rate of GST for drinks

The Minas Gerais State Government revoked the 12% rate of tax on the movement of goods and services (ICMS) which focuses on the internal operations of fermented beverages or mixed with non-alcoholic beverages. Now, they spend their pay rate of 18% (non alcoholic) or 25% (alcoholic) of GST.
The news, which excludes the Cider, is set out in Decree No. 46,307, published in the Official Gazette of the State Monday. The new standard goes into effect in January.
The Decree comes of those beverages, not elsewhere specified or included other nomenclatures. "So, does not reach beer, draft beer or booze," says lawyer Marcelo Jabour, President of Lex Legis tax consulting.
The rate of 25% is envisaged in article 42, item I, regulation of ICMS miner. "The measure is also nice for the principles of constitutional nonagesimal the grandfathering only enters into force next year," said Jabour.
Valor Economico
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