On October 16, 2007, SUSEP, the Brazilian insurance supervisory body, disclosed new draft regulations regarding reinsurance in Brazil and submitted them to a public hearing.

Historically, only transactions not registered with the Brazilian Central Bank ("BACEN") were subject to transfer pricing control in Brazil.

At the closing ceremony of the 2012 London Games, the Olympic flag was ceremoniously passed to the Mayor of Rio de Janeiro, Eduardo Paes, symbolizing the fact that the ‘Beautiful City’ is now officially the Olympic city.

In order to host the 2016 Olympic Games, Rio promised, amongst other measures, to create at least 45,000 beds for visitors, a figure which means doubling the current number available, according to IBGE figures released in February this year.

On December 30th, 2010, the Brazilian Federal Government enacted Decree n. 7412/2010 ("Decree 7412") which changed certain rules connected with the tax on foreign currency exchange ("IOF/Exchange") and on transactions with securities ("IOF/Securities").

Electricity generation from the solar source is still in its early stages in Brazil especially in the light of related costs that make the final price of energy high when compared with other sources.

Brazilian Government recognizes the importance of foreign investment in the form of rural land ownership

In the last two months, the Department of Trade Remedies (DECOM) of the Ministry of Development, Industry and Foreign Trade has initiated the following anti-dumping investigations, as well as four sunset reviews

The plan was presented by the Planning Minister, Nelson Barbosa.

The Vice-President of the Republic, José de Alencar, exercising the office of President of the Republic, sanctioned, on January 15 2007, Supplementary Law No. 126/2007 (the "Supplementary Law"), belatedly opening the Brazilian reinsurance market (which until then was monopolised by State-controlled IRB-Brasil Resseguros S.A.).

The Brazilian federal tax authorities enacted Regulation No. 1037 ("Instrução Normativa n. 1037/2010") on June 4, 2010 listing jurisdictions classified as tax havens and privileged tax regimes as defined by Brazilian tax legislation.

In February this year, Brazilian aircraft manufacturer Embraer suddenly announced the dismissal of over 4,300 employees - around 20% of its entire workforce. The legal cases arising from the move and the subsequent court decisions suggest a tendency towards the likely reform of the nature in which mass dismissals are approached and handled in Brazil.

With the Brazilian economy in difficult times, customers and suppliers have reason to be concerned about the future performance by one or another business partner in Brazil.

Law number 12,965/2014, also known as the Brazilian Legal Framework for the Internet or 'Marco Civil da Internet' was sanctioned by the Brazilian President on 23 April 2014 and entered into force on 23 June 2014.

The choice of the executives for Pré-Sal Petróleo SA (PPSA), state-owned company that will manage the contracts of oil fields auctioned under the production-sharing model, last week, was "absolutely crucial" for the decision of France’s Total to take part in the Libra field auction on Monday, Total’s top executive in Brazil, Denis Palluat de Besset, said.

Since the talks amongst the "G-4″ members were abruptly interrupted last June in Potsdam, the WTO Doha Round negotiations have been in a deadlock.

On December 1, 2011, after nearly seven years of ongoing deliberations, President Dilma Rouseff finally sanctioned the bill of law amending several sections of the Brazilian Antitrust Law.

A consortium of two Chinese state companies (Cnooc e CNPC), two European oil majors (Royal Dutch Shell e Total) and Petrobras made the sole bid for the Libra field, winning the first auction in the pre-salt area of the Santos basin.

On December 1, 2010, the Federal Senate approved Bill of Law No. 06/09 (initiated in the House of Deputies as Bill of Law No. 3,937/04), which aims to amend Law No. 8,884/94 that regulates the Protection of the Brazilian Antitrust System.

After more than seven years of discussions that have covered the mandates of three presidents and various formats, the federal government has finally published three provisional measures that, if converted into law...