PROFISCO

For 30 years, the IDB has provided technical and financial support to Brazil through PROFISCO, a program that enables governments to access a line of credit for innovative projects aimed at modernizing and strengthening fiscal management. The design and implementation of these products are monitored by the Bank’s technical specialists, with a particular focus on ensuring the sustainability of the systems adopted. Together, mandatory implementation products are defined for participating entities. In addition, individual state projects that fall within the scope of the Program are also financed.

The electronic fiscal invoice (NF-e), issued for every transaction involving the circulation of goods or the provision of services, was implemented with resources from PROFISCO. This was the first step in triggering dozens of digital transformation projects and the use of Artificial Intelligence in fiscal management. The transformations driven by PROFISCO contributed to an 11.4% increase in tax revenues, a 1.7% rise in business formalization, and a 3.4% increase in the average wage of formal private-sector workers. Discover the history of the program by reading the digital magazine.