Tax incentives for IT and Internet startups is approved by a Commission in the Chamber of Deputies
The Committee on Science and Technology, Communication and Information Technology of the House of Representatives approved, on June 1st, a proposal that creates a special tax regime for new technology companies in IT and Internet areas. Matter exempts federal tax startups calls for two years, renewable for another two.
The investment resources and grants were planned to straight procurement of goods and the cost of human resources expenses, not necessarily characterizing social capital increase of the company. Similarly, donations received are incorporated into the company’s revenues and profits for the period, not necessarily paying up the capital
According to the publication, companies up to four employees would benefit from quarterly gross revenue of R$ 60,000. The beneficiary may be part of SIMPLES NACIONAL tax collection system until the end of frame period or any time that exceeds the breakpoint of this regime. The last design modification increases the quarterly billing limit to R$ 60,000 – the original project included R$ 30,000 for the incentive framework. “The quarterly billing threshold of R$ 30 000 corresponds to a monthly income of R$ 10 thousand and is very low even by the standards of a startup,” said the rapporteur. The bill follows in a conclusive character and will be analyzed by the Finance and Taxation; and Constitution and Justice and Citizenship. With the House Agency information
Source: TI Inside Online e Agência Câmara