In 2022, Brazil's economic environment faced significant turmoil, driven by political polarization, controversial policy proposals and the election of Luíz Inácio Lula da Silva as president. These factors led to a series of measures and decisions that affected the Brazilian tax system and the financial services industry. Among the changes were presidential decrees, provisional measures and court rulings that impacted tax deductibility for corporate income tax purposes, transfer pricing rules, withholding income tax rates, social contributions (PIS/COFINS) regulations, and the tax amortization of goodwill. By providing an in-depth examination of these developments, this article will shed light on the potential opportunities and challenges for companies operating in Brazil's financial services industry in the wake of these changes.