term icms help what is
Meaning of ICMS. What is it: circulation of goods and services. It is applied to the purchase and.

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Definition ICMS

ICMS title: ICMS (FI) (SAP Library - Glossary)
ICMS category: Financial Accounting (FI)
ICMS explained:

In Brazil, a value-added tax levied at state level on the circulation of goods and services. It is applied to the purchase and sale of domestic and imported goods, interstate and intermunicipal transportation, and communications.

ICMS is a percentage-included tax, meaning that it is embedded in the price of the goods.

In Portuguese, the tax is known as Imposto sobre Circulaçăo de Mercadorias e Serviços.

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