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What Fábrica de Valor publishes on management and on the topics that change business. We start with the tax reform
Tax reform
The biggest change in consumption taxes in decades runs through your company's cash flow
Between 2026 and 2033, PIS, Cofins, ICMS, and ISS give way to CBS, IBS, and the Selective Tax, and IPI goes to zero except for products with incentivized manufacturing in the Manaus Free Trade Zone. Pricing, margin, and working capital change with them
Test year
CBS of 0.9% and IBS of 0.1% shown on the invoice and available to offset against other taxes, at no cost to companies that meet their tax obligations. Simples Nacional companies are outside the test
CBS replaces PIS and Cofins
PIS and Cofins end, the Selective Tax starts, and IPI goes to zero, except for products with incentivized manufacturing in the Manaus Free Trade Zone. Until 2028 IBS stays at 0.1%
ICMS and ISS phase down
Rates fall to 90%, 80%, 70%, and 60% while IBS rises by the same amount
Full model
ICMS and ISS cease to exist, and IBS and CBS apply in full
What changes for your company
Pricing
Tax is charged on top of the price, so every product price list needs to be rebuilt
Margin
Broad credits on purchases, released once the supplier pays the tax, change the real cost of each supplier and each product line
Cash
With split payment, phased in from 2027, tax is withheld at the moment of payment, which changes working capital timing
Simples Nacional
Every six months, companies in Simples can pay IBS and CBS outside the regime to pass full credits to their clients, a choice that needs numbers
How Fábrica de Valor helps
We simulate the effect of the reform on pricing, margin, and cash using your company data, together with your accountant, who remains responsible for calculating the taxes due
Talk to us about the reformSources. Constitutional Amendment 132 of 2023, Complementary Law 214 of 2025, and Receita Federal
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