DIP Financing in Judicial Recovery
Companies under recovery that lack the necessary cash and the possibility of selling assets have great difficulties in recovery processes. In order to help them, the legislator imported from American law the DIP Financing figure, a form of immediate financing in which the company receives capital from external investors.
Government targets new Tax Transaction program
Amidst the new tax legislation released in recent days, a new tax transaction program stands out, which was inserted at the last minute into the text of the Bill of the Administrative Council of Tax Appeals (“CARF”) No. 2,834/2023, a novelty designed by the Ministry of Finance aiming to attract the payment of tax debts (offering attractive settlement discounts) and, consequently, increase revenue.
Some of the main changes consist of increasing the discount ceiling, which goes from 50% to 65%
of the total amount of the debt, in addition to an increase in the payment term, which rises from 84 months to 120 months.
Thus, this new transaction model will represent a notable opportunity for taxpayers, as it allows for the negotiation of debts arising from Federal Revenue Service assessments, under discussion with CARF and the Judiciary.
We emphasize that the text approved in the Chamber of Deputies may undergo changes when it passes through the Federal Senate.
Our team is available to provide any clarifications on the subject.
First fine for non-compliance with LGPD is applied
By Leonardo Neri The General Data Protection Law “LGPD” was approved in 2018 and only came into force in 2020, a time when companies began to pay attention and seek the best way to store personal data, including in digital media. The aforementioned Law provides for administrative sanctions for […]
Bill on the quality vote in CARF is approved in the Chamber of Deputies
Amidst the heated legislative session held in the Plenary of the Chamber of Deputies on the 7th of
July 2023, following the vote on Tax Reform, Bill (“PL”) No. was approved.
2384/2023.
The Bill deals, among other issues, with changes to the rules for announcing the results of judgments at the Administrative Council for Tax Appeals (“CARF”) in the event of a tie in the vote.
For many, the approved text is seen as a victory for the Ministry of Finance and will certainly define
the return of the casting vote. The casting vote provides for a double vote for the President of the Panel, a position that is always occupied by a councilor representing the National Treasury, in cases of a tie in the vote.
After some impasses in the text that was approved, from the taxpayers' perspective, a decision was reached
middle ground, in the event of a tie in the vote, fines will be excluded and any tax representation for criminal purposes (“RFFP”) will be cancelled.
Another relevant change is the exclusion of interest, in addition to the official fine, for taxpayers who expressed their intention to make payment, within 90 days, of the credit maintained in the decision.
issued with a casting vote in favor of the Tax Authorities. Payment may be made in up to 12 installments, using tax losses, negative calculation basis and court orders.
Several other points are important and deserve attention. The text will now be forwarded to the Senate.
Federal, where other changes are likely to occur.
Our team is available to provide clarification on this topic.
Data protection impacts on sports betting
By Leonardo Neri It is known that the sports market is one of the largest, largely due to the impact its products have on the world, especially football. In this sense, the greater the number of citizens engaged in the consumption of a given product, the greater the exposure of personal information involved in said marketing chain. And […]
Bill amending the Corporations and CVM Law is sent to the Chamber
The Ministry of Finance submitted Bill 2,925/23 to the National Congress on 02/06 — taken
as the most important change in the Corporations Law in the last twenty years.
In addition to changing the Corporations Law, the project also proposes changes to Law 6,385/76, which created the
Securities and Exchange Commission (CVM).
Bill 2,925/23 also provides for the exclusion of confidentiality from corporate arbitrations involving
publicly-held companies, with the CVM being responsible for regulating the matter, establishing when confidentiality may be permitted.
The project is the result of studies carried out by the Organization for Economic Cooperation and Development
Economic (OECD) and the CVM, and was carried out by the Secretariat of Economic Policy of the Ministry
of the Farm.
With the approval of Bill 2,925/23, it will be up to the CVM to regulate changes in major
details.
Tax Reform is approved in the Chamber of Deputies
The plenary of the Chamber of Deputies approved last Friday (07/07), in two rounds, the text of the Proposed Amendment to the Constitution (PEC) No. 45 of 2019, a symbolic milestone of this first step towards the Consumption Tax Reform.
The text of PEC 45/2019 proposes the replacement of 5 taxes (PIS, COFINS, ICMS, ISS and IPI) by
called “Dual VAT” and a Selective Tax (“IS”). The Dual VAT will be composed of the Contribution on
Goods and Services Tax (“CBS”) and a Goods and Services Tax (GST).
Attention turns to Dual VAT, which will have a broad base, charged externally, at the destination, with full non-cumulativeness and with few rates (and exceptions).
In turn, the Selective Tax will be levied on the production, import or sale of goods and services that are harmful to health and the environment.
Now, all that remains is to wait for the text to be forwarded to the Federal Senate, where further changes to the text of the
Tax Reform will be likely to occur.
Our team is available to provide any clarifications on the subject.
Family Protocol: what it is and what its purpose is
Family businesses make up the vast majority of companies in the country. However, they are subject to a series of family issues that can lead to their extinction. In order to mitigate such problems, it is necessary to draw up a family protocol: a document whose function, in addition to
to keep the legacy and history of the business family alive, determines, through contractual clauses, how the administration, succession and responsibility of family members towards the company will be.
STF will decide whether there is a limit to the application of tax fines for non-compliance with accessory obligations.
On June 14, 2023, Minister Dias Toffoli of the Federal Supreme Court (“STF”) returned for judgment the case of General Repercussion Theme No. 487 (RE No. 640452), which deals with the definition of the limit for the application of tax fines, in cases of errors or non-compliance with accessory obligations arising from […]
São Paulo Court Denies Employment Relationship Between 99 and Drivers.
By: Rafael Mello and Israel Cruz In a significant decision for the ride-hailing sector, the 72nd Labor Court of São Paulo, when judging a Public Civil Action filed by the Labor Prosecutor's Office (MPT) against 99, decided that there is no employment relationship between the ride-hailing company and […]