23Jul 2007
Brazil’s Federal Revenue Department (FRD) has stated that corporate reorganizations and successions are subject to the 0.38 percent bank transactions tax (CPMF). That official position was published July 19 in the official gazette as Interpretative Declaratory Act (Ato...
23Jul 2007
Brazil’s Council for Economic and Social Development (Conselho de Desenvolvimento Econômico e Social, or CDES)(1) on July 17 submitted a proposal to President Luiz Inácio Lula da Silva recommending that the government legally limit the country’s maximum tax...
19Jul 2007
A controversial law project currently under review by Brazil’s House of Representatives would create an extra tax on “extraordinarily high” profits realized by banks and other financial...
16Jul 2007
Declaratory Interpretative Act (ADI) 12/07, which will affect hundreds of companies that have enjoyed tax breaks from Brazil’s domestic drawback regimes, was published in the official gazette on July 11. ADI 12/07 provides that Brazil’s tax-beneficial domestic...