Revenue Department Eliminates Pledge of Assets to Secure Tax Appeal

After the Supreme Court’s decision that ruled unconstitutional the pledge of assets to secure administrative tax appeals, the Federal Revenue Department issued Interpretative Declaratory Act (Ato Declaratório Interpretativo, or ADI) No.09/07 eliminating the need for asset pledge. In its Article 2, ADI No. 09/07 determines that all pledges of assets in place be canceled.