In an opinion, PGFN states that ICMS is included in the calculation of PIS/COFINS credits
In a favorable opinion for taxpayers, the National Treasury Attorney General's Office (PGFN) stated that it is not possible to exclude ICMS from the calculation basis for PIS and COFINS credits. The PGFN's statement, through opinion no. 14483-2021, was made due to the judgment of RE 574,706, the so-called "thesis of the century," in which […]
STF: IRPJ and CSLL are not levied on Selic
The majority of the justices of the Federal Supreme Court (STF) ruled that IRPJ and CSLL should not be levied on amounts related to the Selic rate adjustment received due to the repetition of undue tax payments, reimbursement, restitution, and offsetting of tax credits paid unduly or in excess. In the judgment of RE 1,063,187, with recognized general repercussions […]
Carbon neutrality and the energy transition
09/21/2021 By Leonardo Neri and Fabiana Porta In December 2015, the international commitment to reduce global warming was approved. The agreement was discussed among 195 countries during the United Nations Climate Change Conference (COP21) in Paris, replacing the Kyoto Protocol. Also ratified by Brazil, the pact […]
New GSF Crisis and Energy Crisis
By: Leonardo Neri At the end of 2020 and after five long years of processing by the National Congress, new conditions for the renegotiation of the hydrological risk of electricity generation (GSF – Generation Scaling Factor) were approved. The GSF measures the hydrological risk, which concerns the volume of energy generated by the plants and its guarantee […]
Regulation of the LGPD linked to public consultation by the ANPD
By: Leonardo Neri A draft resolution was promulgated by the National Data Protection Authority (ANPD), which defined the relaxation of the mandatory appointment of the data protection officer for: small micro-enterprises; startups; non-profit legal entities; small data processing agents (excluding agents of the same […]
(Im)seizability of the guarantor’s property in a lease – Topic 1,127 STF
By Vitor Antony Ferrari and Ivan Kubala* The Supreme Federal Court (STF) is currently processing Extraordinary Appeal 1307334, which specifically addresses the constitutionality of the (non)seizability of residential property owned by a guarantor of a commercial lease instrument. The Judgment already has eight votes, all of which were cast on August 12, and was suspended with […]
Basic text of Tax Reform is approved in the Chamber of Deputies
By 398 votes to 77, the Chamber of Deputies approved yesterday (01.09) the basic text of the tax reform, which provides for several changes to the legislation on Corporate and Individual Income Tax (“IRPJ” and “IRPF”). Among the main measures provided for in the text is the reduction of the IRPJ for companies, from the current 15% […]
Multi-ownership (Time Sharing) of Urban and Rural Properties
By: Vitor Antony Ferrari and Ivan Kubala. In short, time sharing or multi-ownership consists of sharing assets, whether real estate or movable, for a period of time, which may belong to one or more partners/investors. It is a type of temporal division of the asset. In Brazil, 02 (two) years before Law No. 13,777/18 was enacted, […]
M&A SERIES | Part 1: What is an M&A?
By: André Jerusalmy 1 – INTRODUCTION: To explain, and even demystify, some concepts often used in mergers and acquisitions (also popularly known as "M&A") to our clients and partners, we will publish a series of articles on how these transactions work. Our goal is to provide […]
The Unconstitutionality of the ICMS/SP Tax Substitution and the Advantage of Energy Derivatives
08/30/2021 In 2009, the state of São Paulo published Decree 54.177/2009, which established a tax substitution regime for the collection of ICMS on electricity within the free energy market, giving new wording to §§ 2º and 3º of art. 425 of the ICMS Regulation, determining that energy distributors collect […]