EFD-ICMS/IPI stands for Escrituração Fiscal Digital - Imposto sobre Circulação de Mercadorias e Serviços / Imposto sobre Produtos Industrializados. It's a digital tax bookkeeping system used in Brazil for ICMS (a state-level tax on goods and services) and IPI (a federal tax on industrialized products). It involves the electronic submission of tax-related data by businesses to the tax authorities, replacing traditional paper-based records. This system aims to improve tax collection, reduce tax evasion, and streamline tax compliance for businesses operating in Brazil.
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