Congress approved the modifications to Law 4,457/12, which governs the micro, small and medium-sized enterprises sector (MSME Law), to introduce greater incentives and benefits for formalisation, mainly in the first three years of the creation of the ventures.
The project was developed over months and analysed in public hearings with representatives of the sector, with the participation of the Vice Ministry of MSMEs of the MIC, which worked on the regulations together with institutions such as the SNPP, Sinafocal, DNIT, IPS and the Ministry of Economy.
The main changes to the MSME Law include greater interconnection between state entities so that procedures are fully online, improved social protection for micro-entrepreneurs and measures to encourage access to credit with different rates.
According to data from the Vice Ministry of MSMEs, there are around 367,000 MSMEs with a Single Taxpayer Registry (RUC) in the country. In addition, 98% of companies with a RUC are MSMEs and 2% are large companies. It is estimated that MSMEs account for 75% of employment nationwide.
