São Paulo approves Tax Transaction for debts registered in active debt
Law No. 17,843/2023 was published, creating the “Acordo Paulista” program in the State of São Paulo, designed to promote better conditions for resolving disputes related to the collection of tax and non-tax debts owed by the Public Treasury in the State of São Paulo. The new […]
Bill approved on taxation of investments abroad
At the end of November, the Federal Senate approved Bill (“PL”) No. 4,173/23, which promoted and established relevant changes in the rules for taxing income earned by individuals in financial investments and controlled entities abroad, as well as in relation to investments held via trusts abroad, and in the taxation of funds […]
Judicial Recovery or Bankruptcy of Banking Institutions?
By Vitor Antony Ferrari and Ivan Kubala* With the recent bank failures of Silicon Valley Bank (SVB), in California, and Signature Bank, in New York, both in March of this year, there was much speculation about a possible new global banking crisis, similar to that of 2008. These rumors reached Brazil, which, together with the rise in […]
Tax Reform was approved in the Federal Senate
Last week, the Federal Senate approved, in two rounds, the Consumption Tax Reform – Proposed Constitutional Amendment No. 45 (PEC No. 45). Despite the various exceptions and regimes favored in the text, it maintains its basic characteristics regarding the implementation of Value Added Tax (“VAT”) in Brazil. The […]
STF schedules ICMS-Difal trial for November 22nd
The Supreme Federal Court has scheduled for trial on November 22nd the Direct Actions of Unconstitutionality (ADIs) No. 7,066, 7,070 and 7,078, which discuss and question part of Complementary Law No. 190/2022, which amends the Kandir Law (LC 87/1996) to regulate the collection of the ICMS Tax Rate Differential on operations and services […]
What is transnational insolvency and how is it regulated
By Vitor Antony Ferrari and Ivan Kubala* It is very common for large companies to have headquarters and assets in several countries, marketing their products and services all over the world. However, the internationalization of companies became a problem when, hit by financial crises, they filed for bankruptcy or judicial recovery. The big question was what […]
The IRS and the new Transfer Pricing Rules
To regulate the provisions of Law No. 14,596/2023, published in April of this year, the Federal Revenue Service (RFB) published Normative Instruction No. 2,161/2023, which establishes the Transfer Pricing rules applicable to transactions between parties domiciled in Brazil and their related parties abroad. Both regulations arise from initiatives of the Government […]
CVM Circular Letter on Receivables Tokens
By Moema Giovanella The result of extensive debate by the Securitization Superintendence – SSE of the Securities and Exchange Commission – CVM with the market after the first publication on the subject, Circular Letter CVM/SSE 4/2023 (OC 4/23), together with Circular Letter CVM/SSE 6/2023 (OC 6/23), published on 07/05/2023, aims to publicize […]
Changes to the new Code of Best Corporate Governance Practices
By Fernanda Lazzarini* The 6th edition of the Brazilian Institute of Corporate Governance (IBGC) Code of Best Corporate Governance Practices aims to contribute to the sustainable development and transparency of organizations by encouraging the conscious and effective use of corporate governance instruments. The document includes five principles: […]
Limits on compensation for moral damages are parameters, not ceilings
By Rafael Mello and Israel Cruz The Brazilian Supreme Court (STF), in which the majority of ministers determined that labor compensation for moral damages may exceed the limit established in the Consolidation of Labor Laws (CLT). The prevailing interpretation was that the amounts determined by the legislation serve as a guide, and not […]