Brazilian Supreme Court rules unconstitutional the levy of ITCMD on PGBL and VGBL plans
In summary Unanimously, the Brazilian Supreme Court (STF) decided that the gift and inheritance tax (ITCMD) should not be levied on the transfer of amounts and rights relating to VGBL (Vida Gerador de Benefício Livre) and PGBL (Plano Gerador de Benefício Livre) plans to beneficiaries, in the event of the death of the policy holder. […]