We know that some Tax Aspects are fundamental and require effective accounting for example ICMS, let's analyze the following case:

Upon Purchase: In accordance with the Tax Legislation, the amount of recoverable ICMS, highlighted in the Invoice, must be excluded from the acquisition cost of goods for resale and raw materials. This procedure implies registering in its own ICMS Recoverable account.

In this case, the ICMS calculation basis is the price of the merchandise. So if a certain commercial company purchased a merchandise for resale for R$ 50,000,000, the Invoice will have the following highlights:

PRODUCT VALUE: 41,000,000

ICMS VALUE on Purchase: 9,000,000

On Sale: When the sale takes place, the commercial company must also charge ICMS from the buyer of the goods.

Suppose that this same merchandise, purchased, is sold for R$70,000,000 in cash. When issuing the Invoice, there would be the following highlights:

PRODUCT VALUE: 70,000,000

VALUE OF ICMS on Sale: 12,600,000

What would be the amount of ICMS to be paid?