On February 26th 2018, the Government of the State Amazonas has petitioned for the declaration of unconstitutionality of several provisions of Complementary Law No. 160/2017 and of ICMS Covenant No. 190/2017
The 2nd Panel of the Federal Supreme Court (STF) recognized the unconstitutionality of the increase in the Utilization Rate of the Integrated Foreign Trade System (Siscomex) brought about by Ministry of Finance Ordinance No. 257/11. With this understanding, the court upheld the right of the taxpayer to collect the fee based on the amounts in force prior to the issuance of the ordinance. The decision was reached in the judgment of Extraordinary Appeal (RE) No. 1095001.
After almost three years of debate, the 1st Section of the Superior Court of Justice (STJ) recognized the illegality of Normative Instructions 247/02 and 404/04 and adopted an intermediate position, according to which the criteria of essentiality and relevance should be reviewed for the purposes of deduction from the PIS and Cofins calculation basis.
Although it is part of the Base Erosion and Profit Shifting (BEPS) Project to counteract multinationals’ tax planning that uses the loopholes of the international system to reduce their overall tax burden, Brazil has not signed the Multilateral Instrument (MLI) to implement the changes suggested in bilateral treaties to avoid the double taxation (double tax treaties) in the form of a single negotiation.
Last year was special for the Administrative Council of Tax Appeals (Carf). The period began with heated discussions (and many lawsuits) questioning the productivity bonus of tax auditors and ended with the joining of the representatives of the Brazilian Treasury in the strike for regulation of the bonus.
Normative Instruction No. 1,765/17, published on December 4 of last year, conditioned the receipt of offsetting statements for IPI credits, contribution to PIS, Cofins, and negative IRPJ or CSLL balances on prior confirmation of transmission of tax documents in which the right to a credit is demonstrated.
Abuses by the State and especially by the tax authorities to impose taxes without proper legal support are not uncommon. This routine fact, in addition to the excessive tax burden, the enormity of instrumental duties, and the extremely high interest rates on arrears and fines, creates a very difficult environment for Brazil's economic development.
Law No. 13,606/18, published on January 10, brought in changes to Law No. 10,522/02, which provides for the Credit Information Register (Cadin), and authorized the National Treasury to freeze assets of debtors as soon as the tax debt is enrolled by Federal Attorney of the National Treasury and before the filing of a tax foreclosure, without the need for court order.
In Brazil, FIPs are the main vehicle for investments in private equity and venture capital, which involve different phases of equity investments. This type of investment presupposes low liquidity and medium and long term returns. Its main characteristic is the contribution of funds (including in investment rounds) and an exit after increase of market value.
No Brasil, os FIPs são o principal veículo para os investimentos em private equity e venture capital, que envolvem diferentes fases de investimentos em participações em empresas (equity investments). Esse tipo de investimento pressupõe baixa liquidez e retornos de médio e longo prazo. Sua principal característica é o aporte de recursos (inclusive em rodadas de investimento) e a saída após incremento de valor de mercado.
This article discusses the possibility that taxpayers may obtain from the Public Treasury reimbursement of expenses incurred in contracting for a bank guarantee or insurance-guarantee offered in guarantee in tax executions as a requirement for filing a motion to stay the execution.
On October 18, the Federal Regional Court of the 1st Circuit submitted for judgment the Incident to Resolve Repetitive Demands which litigates the possibility that tax auditors participating in decisions by the CARF (Administrative Council of Tax Appeals) receive the productivity bonus established by Provisional Presidential Decree No. 765/16.
Since the Federal Police launched Operation Zelotes in 2015, which unveiled corruption cases in the Administrative Tax Appeals Board (CARF), the body has undergone several institutional changes, such as a change in its directors, changes in internal rules, reduction in number of panels, among other measures that sought to reformulate the body's procedure for deciding cases.
A virtual financial asset very much in vogue, bitcoin is a bet by economists to cheapen transactions, especially those that occur in the international sphere.
Provisional Presidential Decree (MP) No. 794, of August 9, 2017, revoked Provisional Presidential Decrees Nos. 772, 773, and 774, all of March of this year. The latter dealt with, among other issues, the repeal of paragraph 21 of article 8 of Law No. 10,865/2004, which required the collection of an additional 1% on Cofins (Contribution to Social Security Financing) to import certain products, such as articles of clothing, aeronautical goods, medicines, among others.
