- Category: Infrastructure and energy
Three Machado Meyer partners had their practices recognized by major international awards early this year...
- Category: Public and regulatory law
Gláucia Coelho e Misael do Lago Usually underestimated and dealth with reservation by judges and lawyers, oral depositions have always been treated with caution in judicial proceedings. The customary caution with which testimonial evidence is approached is understandable, since it is a naturally unstable proof, whose success (or failure) is closely dependable on the state of mind of the witness called to the stand - and, also, depends on several objective and subjective factors...
- Category: Tax
Law 13,169/2015: increasing of CSLL rate
It was published in the Oficial Gazette, on Thursday, October 7, 2015, Law 13,169/2015, which is the provisional measure 675/2015 conversion into law.
According to the modifications introduced in section 3, subparagraphs I e II of Law 7,689/1988, the Brazilian Social Contribution on Net Income (“CSLL”) rate for financial institutions was increased from 15% (fifteen percent) to 17% (seventeen percent) or 20% (twenty percent), depending on the nature of the activities developed by the Company.
- Category: Tax
Supreme Court modifies its understanding regarding the tax substitution regime
The Full Court of the Supreme Court ("STF") analyzed the Extraordinary Appeal No. 593,849, under the general repercussion regime (with binding effects), which discussed the reimbursement of overpaid amounts by taxpayers of the Tax on Goods and Services ("ICMS"), subject to the tax substitution regime.
- Category: Tax
Provisory Law raises
Income Tax rate for capital gains earned by individuals and changes.
PRORELIT
Provisory Law No. 692, of September, 2015, amended Law No. 8,981/95 changing the current 15% Income Tax rate for individuals on capital gain to the following rates: 15% for gains until R$1 million, 20% for gains from R$1 million to R$5 million, 25% for gains from R$ 5 million to R$20 million and 30% for gains over R$20 million. This modification also applies to companies under Simples.
- Category: Tax
State of Rio de Janeiro approves friendly notification of charge before beginning a tax procedure
Law No. 6,884, of September 5th, 2014, amended Law No. 2,657/1996, which sets forth ICMS rules, in order to create a specific Section (Section VII-A Procedures without Loss of Spontaneity), related to the possibility that the State Revenue Service issue a friendly notification before beginning any tax procedure to impose penalties, for the taxpayer to regularize the obligation it had failed to comply with.
- Category: Tax
Optional regime concerning tax reduction on payroll and increase of rates of Social Security Contribution on Gross Revenue
On August 31st, 2015, Law No. 13,161 was enacted. Among other provisions, this law brings relevant amendments to the tax reduction on the payroll set forth in Law No. 12,546/2011. This new law makes optional the collection of social security contribution on gross revenue (Contribuição Previdenciária sobre a Receita Bruta - CPRB) for companies already subject to that regime.
- Category: Tax
PAY ATTENTION TO FATCA
On September 30th, 2015, the Brazilian Internal Revenue Service and the United States Internal Revenue Service will begin to exchange information on accounts held by Brazilian individuals and entities in the United States and information on accounts held by American individuals and entities in Brazil.
- Category: Tax
IN n. 1,658/2016: recent changes on Brazilian tax havens’ list
Normative Ruling n. 1,658, dated September 13th, 2016, published yesterday, amended Normative Ruling n. 1,037, dated June 4, 2010, which establishes the lists of low tax jurisdictions and privileged tax regimes.
- Category: Tax
Decree regulates the incidence of IPI on cigarettes
>Published on August 19 of this year and rectified on the 25th of the same month, Decree nº 7.555 regulated articles 14 to 20 of Provisional Measure nº 540, of August 02, 2011, providing for the applicability of the Import Duty levied on cigarettes containing tobacco, with the exception of the hand-made ones.- Category: Tax
Law n. 12.441/11 changes the Civil Code to admit the incorporation of the limited liability individual company
Law nº 12.441/11 included Section 980-A in the Civil Code to admit the incorporation of the limited liability individual company. Until the change introduced by such law, the Civil Code included only the individual entrepreneur, whose personal property was mingled with that of the company. Besides, in the case of companies, the lack of plurality of partners not recovered within 180 days was a cause for its winding up.
- Category: Tax
Draft of Complementary Law No. 48/11
A draft of Complementary Law No. 48/11, submitted by Mr. Aluízio (PV-RJ), establishing the Social Contribution on Wealth (Contribuição Social das Grandes Fortunas - CSGF) is currently being discussed at the House of Representatives. According to the draft, the new contribution will have as tax event the title - on December 31 of each calendar year - to property and rights amounting to more than five million, five hundred and twenty thousand reais (R$ 5,520,000.00). The assessment will be carried out based on the taxpayer´s tax return to be submitted by June 30th.
- Category: Infrastructure and energy
Special Issue
Finally a New Mining Regulatory Framework in Brazil
After a long expectation period of almost five years, the Bill of Law No. 5,087/2013 which was submitted to the analysis of the National Congress with constitutional urgency (urgência constitucional) (“Bill of Law No. 5,087/2013”) was made available to the public on June 20, 2013, providing, among others, new rules applicable to mining activities, and the creation of the Conselho Nacional de Política Mineral – CNPM and of the Agência Nacional de Mineração – ANM.
- Category: Infrastructure and energy
Special Issue
A new mining code: what happens if it happens?
The proposal ideas for a New Regulatory Framework, in replacement to the current Mining Code of 1967, have been discussed in and by the specialists of the mining and environmental sectors over the last years. At the beginning of 2011, indeed, the 2030 National Mining Plan of the Ministry of Mines and Energy - PNM 2030 - was issued aiming to be used as guidance to the policies and rules for the development of the mining sector in Brazil for the next 20 years.
- Category: Infrastructure and energy
Special Issue
Changes to the Control, monitoring and supervision of research and mining activities tax in the State of Minas Gerais
The State of Minas Gerais published on 1st November the Law No. 20,414 of 31 November 2012 (“Law 20,414”), which modifies certain aspects related to the Control, monitoring and supervision of research and mining activities tax (Taxa de Controle, Monitoramento e Fiscalização das Atividades de Pesquisa, Lavra, Exploração e Aproveitamento de Recursos Minerários) (“TFRM”), created by the State of Minas Gerais law nº 19.976 of 27 December 2011.
- Category: Infrastructure and energy
Extraordinary Edition
Federal Government announces new investment program in logistics
In order to promote the resumption of economic growth, last Tuesday, June 9, President Dilma Rousseff launched the new phase of the Investment Program in Logistics ("PIL"). In this new stage of the PIL, the Federal Government has planned to make investments of about R$ 198.4 billion, to be applied in highways (R$ 66.1 billion), railways (R$ 86.4 billion), ports (R$ 37.4 billion), and airports (R$ 32.2 billion). In the first phase of this new stage of the PIL, the intention is to implement an investment, between 2015 and 2018, of R$ 69.2 billion. In the second phase, from 2019, the investment should be equal to R$ 129.2 billion.