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Felipe Araujo

Assets' related tax recovery for Brazil - aka CIAP 2018-12-21

Brazil's CIAP accounting process

  1. Felipe Araujo
    In order to stimulate Brazilian industries growth, the government created tax benefits (ICMS Credit Control of Fixed Assets — CIAP) related to asset acquisition, in case they are used in the production process. You can use this business function to control the ICMS to be credited for assets in production and be able to get the due reimbursement of the value to be credited. In the attachment you may find the process and it's accounting entries.