Digital Investment Influencers are in the CVM’s sights
By: André Jerusalmy Social media is full of digital influencers, and many of these influencers deal with one of the most sensitive topics of all: investors’ pockets. With tips and recommendations on all types of investments, including very high-risk investments, such as operations in futures markets and with leverage (especially day […]
What is a debt restructuring process?
By: Antonio Mazzucco Debt restructuring is a process that aims to reduce the total amount of a company’s debt, reduce or suspend the interest rate that the company bears and postpone the deadline for debt repayment. What is the objective of a debt restructuring operation? Corporate debt restructuring […]
Tax Planning: STF should conclude anti-avoidance rule trial this week
The Supreme Federal Court (STF) is close to reaching a consensus on the constitutionality of Article 116 of the National Tax Code (CTN), which establishes the anti-tax avoidance rule. The debate is long-standing, having begun in the STF in 2001 with the filing of ADI 2446. The core of the Direct Action of Unconstitutionality is based on […]
Brazil takes important step with Draft International Convention on Cybercrime
By Leonardo Neri First, it's important to understand the benefits national authorities will gain from potentially joining the Cybercrime Convention, which will provide greater autonomy and agility in accessing digital evidence and documents under foreign legislation. Legislative Decree Bill 255/21 was approved on the 6th […]
CARF maintains foremanship in the calculation basis of Import Tax
In a trial held this Wednesday (27/10), the counselors of the 3rd Panel of the Superior Chamber of the Administrative Council of Tax Appeals (CARF) decided, unanimously, that expenses with stevedoring – activity of moving cargo and goods in port facilities – should be included in the calculation basis of the Import Tax (II)[1]. Despite already […]
CVM Fines Autonomous Investment Agent
By: André Jerusalmy On September 21, 2021, the Brazilian Securities and Exchange Commission (“CVM”) judged the Administrative Sanctioning Proceeding CVM SEI 19957.000520/2020-01 (RJ2020/01227), which analyzed an accusation attributed to an independent investment agent (“AAI”) accused of receiving client funds in his personal account, thus violating art. 13, II of CVM Instruction No. […]
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 […]