Following controversies caused by the reduction of excise tax (IPI) rates (for further details please see "Government reduces excise tax rate"), Decree 11021/2022 was published in a special edition...

In accordance with the Brazilian laws, quotaholders of limited liability companies and shareholders of corporations shall hold meeting at least once a year, within four months after the end of the corporate year of the company.

As is well known by shareholders of publicly held companies, the corporate legislation and the bureaucracy to validate foreign documents have created, in practical terms, obstacles to their participation in general meetings, as, in general, the lapse between the call notice and the date the meeting is not enough for the shareholders (mainly those not resident in Brazil) to take the necessary measures to obtain the corporate authorizations and/or appoint attorneys-in-fact to attend these even

On June 25th, 2012 the Central Bank of Brazil (BCB) issued Circular No. 3,602/2012 which created the Annual Census of Foreign Capitals in Brazil ("Annual Census"), by means of an annual declaration...

The new Outsourcing Law (13,429/2017) allowed for the hiring of third parties for all types of services, including those related to a company's core business activity, but application of the law is raising questions.

On 5 January 2022, Supplementary Law 190/2022 was published to regulate the allocation of Brazil's State VAT (ICMS) revenue on interstate transactions to end consumers (DIFAL)...

In 2021, the United Kingdom's Financial Conduct Authority announced several changes to the benchmark settings currently published by the ICE Benchmark Administration, including the cessation...

The ICMS is a state value added tax, whose primary directives are set forth by the Brazilian Federal Constitution, and is governed, at the national level, by Supplementary Law 87/96.

After the Brazilian Federal Supreme Court ruled in favor of the taxpayers, reducing the tax cost on the import of goods, the Federal Government finds yet another way to reverse this effect and increase tax collection.

Law 13129/15, in addition to amending the law that regulates arbitration, also gives new wording to Law 6404/76 to provide for procedures to include an arbitration clause in the by-laws of corporations.

The last couple of years were difficult and challenging for all countries and the situation was no different for Brazil.

As previously discussed, Constitutional Amendment 87 (CA 87/15) brought significant changes to the collection of state VAT (ICMS) on interstate transactions to end consumers.

Drawback is a special customs regime which aims to boost exports by exempting the taxes levied on imports and local acquisitions of inputs to be applied in the manufacturing of products to be exported...

After decades of discussions about Brazil becoming a member of the Organisation for Economic Co-operation and Development (OECD), Brazil was finally invited on 25 January 2022 to start its accession process to the organisation.

On a commendable effort to regulate the allocation of State VAT (ICMS) revenue on interstate transactions to end consumers, the National Congress approved, in late 2021, Bill 32/2021.

Under this regime, Brazilian legal entities calculated the IRPJ, CSLL, PIS and COFINS based on the results ascertained according to the accounting rules in force on December 31st, 2007...

Brazil has signed tax treaties with the following countries which have not been ratified yet and, therefore, are not currently in force: Paraguay, Russia, Trinidad and Tobago and Venezuela.

Brazil has signed tax treaties with the following countries which have not been ratified yet and, therefore, are not currently in force: Paraguay, Russia, Trinidad and Tobago and Venezuela.