In brief

The Revenue Service says 86% of tax documents already show the CBS.

67% of required establishments have joined.

What we know

04

  1. Verified fact · material

    In the last 30 days, required companies issued about 3.7 billion tax documents showing the CBS, 86% of the total, and 0.6 billion without it.

    High adoption in the transition.

    Sources[01][02]

  2. Verified fact · material

    Of 1,275,356 required establishments, 855,152 (67%) showed the CBS on all or some invoices.

    A third still out.

    Sources[01][02]

  3. Verified fact

    According to the Revenue Service, the data excludes Simples Nacional companies.

    Data scope.

    Sources[01]

  4. Verified fact

    The Finance Ministry republished the Revenue Service note.

    Same origin.

    Sources[03]

Transmission to assets

Market read-through

High adoption of the CBS line reduces operational risk in the tax reform transition, but a third of establishments still out signals pending system adjustments at companies.

Portfolio impact

01
Empresas de software fiscaluncertain

Pending adoption keeps demand for systems.

Adoption already high.

What would change the view: Adoption deadline tightening.

sector15% confidence

Direction is an explanatory hypothesis, not a forecast or recommendation.

Next signals

What to watch

  • New Revenue Service panel data
  • 2027 test-phase rules

Limits of the reporting

What remains uncertain

  • Data are preliminary from the Revenue Service panel.

Full sources

03
01
Receita FederalReforma Tributária: 86% dos documentos fiscais de empresas obrigadas já trazem destaque da CBSofficial source
02
Agência BrasilReforma tributária: 86% das notas fiscais destacam CBSindependent newsroom
03
Ministério da FazendaReforma Tributária: 86% dos documentos fiscais de empresas obrigadas já trazem destaque da CBSofficial source