The Plenary of the Supreme Federal Court (STF) decided, on Thursday (13), that the exclusion of the Tax on Circulation of Goods and Services (ICMS) from the PIS/Cofins calculation basis (taxes due on gross revenue) is valid upon 2017, the date on which the general repercussion thesis was set in the judgment of Extraordinary Appeal by the number 574706.

Ministers also clarified that the ICMS that is not included in the PIS / Coffins calculation base is what is demonstrated on the invoice.

The Attorney General's Office of the National Treasury (PGFN) also alleged that there were contradictions in relation to Court precedents on the inclusion of taxes in the calculation base of other resources and pointed out the economic impact of the decision is greater than 250 billion of Brazilian Reais.

This decision opened a possibility for many Brazilian Companies to require their tax credit in 2017. It is also important to highlight that this tax credit can be settlement with any federal tax due.