New BCB Resolution No. 339 updates the rules regarding written duplicates
By Moema Giovanella The National Monetary Council – CMN, the Central Bank of Brazil – BCB and the Securities and Exchange Commission – CVM have been building an important regulatory agenda in recent years to increase competitiveness and security in the negotiation of commercial receivables in the country. Just like the changes to the rules for receivables […]
STJ is expected to rule on the exclusion of ICMS-ST from the PIS and COFINS base on 11/22
The Superior Court of Justice has scheduled the trial of Repetitive Theme No. 1,125, which deals with the exclusion of ICMS-ST from the PIS and COFINS calculation basis, for November 22, 2023. Repetitive Theme No. 1,125 refers to the exclusion of ICMS due under the substitution tax system (ICMS-ST) by the substituted […]
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 […]
The role of judicial administrators in the Conversion of RJ into Bankruptcy
By Vitor Antony Ferrari The Judicial Administrator plays a fundamental role in the process of converting a judicial recovery into bankruptcy. The conversion occurs when the company in the process of judicial recovery is unable to comply with the recovery plan or the conditions established by law, which leads to the conversion of the recovery process into a […]
STJ: The use of negative IRPJ and CSLL balances in compensation
The 1st Panel of the Superior Court of Justice (STJ), unanimously decided that the receipt of refund requests and offset statements (PER/DCOMP) related to a negative IRPJ or CSLL balance is subject to the transmission of the Tax Accounting Records (ECF). Initially, this requirement was established by the Normative Instruction of the Federal Revenue of […]
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 […]
Petrópolis Group: judicial recovery diary
By Vitor Antony Ferrari, Ivan Kubala and Nicoly Crepaldi Minchuerri* As was widely reported by both the specialized press and the mass media, Grupo Petrópolis, a beer group responsible for producing labels such as “Itaipava”, “Petra” and “Lokal”, filed a request for judicial recovery with the Business Court of the city of Rio de Janeiro […]
Federal Government submits Bill on Investment Subsidies
Last week, the Federal Government forwarded to the Chamber of Deputies, dealing with the rules regarding state tax incentives and their use by taxpayers, Bill (PL) No. 5,129/2023, designed to replace the text of Provisional Measure No. 1,185/23 and encourage consideration of the matter by the Federal Legislature in 2023. This measure […]