Revenue Sharing (Arroyo, Jiménez and Mussi)

Revenue sharing: The case of Brazil’s ICMS by José M. Arroyo, Juan P. Jiménez and Carlos Mussi. “The ICMS represents the most important source of revenue for the Brazilian states and one of the most important taxes in Brazil. Unlike other VATs in the world, the ICMS is not collected by the central government…The objective of this paper is to characterize Brazil’s fiscal federalism and tax system, with an emphasis in the ICMS and its revenue-sharing rules. We also provide some concluding remarks regarding ICMS and its revenue sharing.”