Arising from Executive Order no. 944/2020, the Law no. 14,043/2020 was approved with amendments by National Congress and sanctioned with vetoes by the President of the Republic. Among the changes to the Program, we highlight: Expansion of scope by increasing the maximum limit of annual gross revenue of companies in 2019 to up to R$ […]
On August 13th, Legislative Bill nº 529/2020 (“Bill 529/20”) was published, proposing changes on the transfer tax (“ITCMD”) legislation in the State of Sao Paulo. The purpose is to equalize the deficit from the negative effects of the COVID-19 pandemic on public revenue and recover part of the State’s investment capacity. The main changes addressed […]
On August 17, the Ministry of Economy published a note on its website announcing the definitive shutdown of the SISCOSERV system. According to the note, the intention is to reduce bureaucracy and facilitate the business environment in Brazil, in line with the recent Economic Freedom Law. Back in June of this year the Government published […]
In the past weeks, different developments occurred in the intellectual property field in Brazil. This e-alert addresses three recent updates that may impact our clients. Federal Government opens public consultation on the National Intellectual Property Strategy (ENPI). On 08/10/2020, the Inter-ministerial Group on Intellectual Property (GIPI), chaired by the Ministry of Economy, launched a public […]
We are pleased to announce the X International Conference for Multinationals. The event will take place on August 24 and 25, 2020, completely online. This year, we will address the development of tax reforms in Brazil and in its main commercial partners, trends and challenges of digital services taxation, alternatives forms of conflict resolutions in […]
On July 30, 2020, the OECD Secretariat and Brazilian IRS (RFB) launched a survey seeking for public collaboration in the development of safe-harbours and other simplification measures on transfer pricing matters. The survey is part of the joint project developed by OECD and RFB in order to evaluate possible strategies for aligning Brazilian transfer pricing rules […]
Brazil made another important step towards the internalization of the Nagoya Protocol. On 6 August 2020, the Brazilian Senate approved the Protocol, an international agreement supplementary to the Convention on Biological Diversity that creates incentives for the conservation and sustainable use of genetic resources. It strengths the contribution of the biodiversity to the environmental development. […]
The Rio de Janeiro State enacted, on 31st July 2020, State Law # 8,960/2020, granting a special ICMS tax regime for steel sector industries located in Rio de Janeiro State. Note that the incentives provided by this new law were originally created by State Decree # 46,793/2019, now revoked. Accordingly, the main purpose of State […]
On yesterday’s judgment (08.04.2020), by majority vote, the Brazilian Supreme Court (STF) ruled on the Extraordinary Appeal 567,967 – leading case – an important tax thesis by recognizing the unconstitutionality of the levy of social security contributions upon payments made as maternity leave wages, as provided in art. 28, §2 and §9, “a”, of Law 8,212/91. According to the vote […]
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